Search Results for citation:"90 FR 9771"

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Search Results: citation:"90 FR 9771"

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2025-02679 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Modify Certain Initial Listing Liquidity Requirements
February 18, 2025
Type:Notice
Citation:90 FR 9771
Reading Time:about 2 minutes
The Nasdaq Stock Market LLC submitted a proposal to the Securities and Exchange Commission (SEC) to change some of its rules for companies that want to list on its markets, particularly those that are doing an initial public offering or moving from another market. These rule changes would require that the necessary market value of publicly held shares come only from the proceeds of these offerings. The SEC has extended the time it will take to make a decision on whether to approve or disapprove these changes. The new deadline for the SEC's decision is March 30, 2025.
Simple Explanation
Nasdaq wants to change some rules about how companies can join their markets, and the team that checks these rules needs more time to decide if the changes are okay. They have until March 30, 2025, to make their decision.
2025-02683 — Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Section 713 of the NYSE American LLC Company Guide To Amend the Price Requirements for the Exception From the Shareholder Approval Rules Set Forth in Section 713(a) To Provide That Only Cash Sales of Securities at or Above the Minimum Price Qualify for That Exception
February 18, 2025
Type:Notice
Citation:90 FR 9771
Reading Time:about 3 minutes
NYSE American LLC proposed a rule change to amend Section 713 of its Company Guide, which impacts shareholder approval for cash sales of securities. The proposed change eliminates book value from the pricing test and introduces a "Minimum Price" definition to clarify that only cash sales can be exempt from shareholder approval. The Securities and Exchange Commission is seeking public comments on the proposal. Comments can be submitted electronically or via mail, and all feedback will be posted on the SEC's website.
Simple Explanation
NYSE American wants to change its rules so that companies can sell stocks for cash without checking with all the shareholders, as long as they sell at a certain price or higher. The people in charge want to know what everyone thinks about this idea.

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