PlainBillCongress, translated.Legislation. Context. Public interest.Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Congressional Research Service
Version 00 · Introduced in House · Nov 22, 2013
Improving Access to Capital for Emerging Growth Companies Act - Amends the Securities Act of 1933 (Act) to reduce from 21 to 15 the number of days before a "road show" that an emerging growth company (EGC), before its initial public offering (IPO) date, may publicly file a draft registration statement for confidential nonpublic review by Securities and Exchange Commission (SEC) staff.
(A financial "road show" is an offer [other than a statutory prospectus or a portion of one] that contains a presentation regarding an offering by one or more members of the issuer's management and includes discussion of one or more of the issuer, such management, and the securities being offered. Typically, a road show is a series of meetings across different cities, often before an IPO, in which top executives from a company have the opportunity to talk with current or potential investors.)
Prescribes a grace period during which an issuer that was an EGC at the time it filed a confidential registration statement for confidential SEC review, but is no longer one, shall continue to be treated as one.
Showing the opening paragraphs of the official summary.
Authorizes an EGC, within one year of its IPO, to submit confidentially to the SEC a draft registration statement for any securities to be issued subsequent to its IPO (follow-on offerings) for confidential nonpublic review by SEC staff before publicly filing a registration statement, if the initial confidential submission, including amendments, is publicly filed with the SEC within two days before it issues those follow-on offerings.
Amends the Jumpstart Our Business Startups Act to direct the SEC to revise its general instructions on Form S-1 to prescribe conditions under which a registration statement that is filed by an issuer (or submitted for confidential review) before its IPO may omit financial disclosure information for historical periods otherwise required.
People & committees
Rep. Fincher, Stephen Lee [R-TN-8] · R–TN
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
Sponsor introductory remarks on measure. (CR E1756)
Introduced in House
Introduced in House
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.
Primary sources
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Source last updated: Aug 12, 2025. Consult Congress.gov for the current record.
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