On July 2, 2020, the Securities and Exchange Commission (the “SEC”) approved, with immediate effectiveness, the New York Stock Exchange’s (“NYSE”) proposal to extend its waiver of the shareholder approval requirements set forth in Section 312.03 of the NYSE Listed Company Manual through September 30, 2020. As we previously blogged, the SEC initially approved the
NYSE Rules
NYSE Amends Proposal to Allow Issuers to Raise Capital in Direct Listings
By Brian Hirshberg on
On June 22, 2020, the New York Stock Exchange (“NYSE”) submitted an amended proposal to the Securities and Exchange Commission (“SEC”) that would modify existing NYSE rules relating to direct listings in order to permit companies to conduct concurrent primary offerings. As we previously blogged, on December 6, 2019, the SEC rejected a broader NYSE…
SEC Approves NYSE’s Temporary Relief from Shareholder Approval Rule
By Brian Hirshberg on
On May 14, 2020, the Securities and Exchange Commission (“SEC”) approved, with immediate effectiveness, a rule filing from the New York Stock Exchange (“NYSE”) granting temporary relief from the shareholder approval requirements under Section 312.03 and 303A.08 through June 30, 2020. The relief is made available to any NYSE-listed company that would incur a material…
NYSE Temporary COVID-19 Related Relief from Shareholder Approval Rule
By Anna T. Pinedo & Brian Hirshberg on
The New York Stock Exchange has filed with the SEC a proposed rule filing to provide for temporary relief through June 30, 2020 from the application of certain shareholder approval requirements under Section 312.03 and 303A.08. The proposed rules would provide NYSE-listed companies that have been negatively impacted by COVID-19 and that would like to…
SEC Approves NYSE’s Tolling of Compliance Period
By Brian Hirshberg on
On April 21, 2020, the Securities and Exchange Commission (“SEC”) approved, with immediate effectiveness, the proposal filed by the New York Stock Exchange (the “NYSE”) to permit a longer period of time for NYSE-listed companies to regain compliance with the exchange’s continued listing standards by tolling the applicable compliance periods through June 30, 2020. The…
SEC Approves NYSE’s Temporary Relief for Listed Companies
By Brian Hirshberg on
On April 6, 2020, the Securities and Exchange Commission (“SEC”) approved, with immediate effectiveness, the proposal filed by the New York Stock Exchange (“NYSE”) with the Commission on April 3, 2020 to waive certain shareholder approval requirements set forth in Section 312.03 of the NYSE Listed Company Manual through June 30, 2020.
As we previously…
NYSE Proposes Temporary Relief for Listed Companies
By Brian Hirshberg on
On April 3, 2020, the New York Stock Exchange (“NYSE”) filed with the Securities and Exchange Commission (“SEC”) for approval two proposals designed to assist NYSE-listed companies with temporary relief in response to the market-wide declines as a result of COVID-19.
The first proposes to waive certain shareholder approval requirements set forth in Section 312.03…
SEC Rejects NYSE Proposal to Allow Fundraising in Direct Listings
By Brian Hirshberg on
On December 6, 2019, the Securities and Exchange Commission (“SEC”) rejected the proposal submitted by the New York Stock Exchange (“NYSE”) to allow companies to simultaneously go public through a direct listing and raise cash from public market investors. As we previously blogged, the NYSE’s proposed rule would have incorporated an option to raise…
NYSE Proposes Allowing Companies to Raise Capital in Direct Listings
By Brian Hirshberg on
On November 26, 2019, the New York Stock Exchange (“NYSE”) filed with the Securities and Exchange Commission (“SEC”) a proposed rule change that would allow companies to simultaneously go public through a direct listing and raise cash from public market investors as an alternative to a traditional initial public offering. The proposed change would allow…