By Dave Michaels
The U.S. Securities and Exchange Commission unanimously proposed boosting by 10 times the amount of money companies can raise under a simplified public offering, the agency’s latest step to ease fundraising by smaller firms.
The SEC measure released for public comment in Washington today also would preempt such stock deals from state oversight, a change sought by small businesses and Republican lawmakers. Firms could elect to raise as much as $50 million, up from $5 million, while providing investors with fewer disclosures than required of public companies.
