This article highlights an interesting feature of legislation currently before the Senate called the Reopening American Capital Markets to Emerging Growth Companies Act of 2011. This legislation, which aims to resurrect the moribund IPO market, defines an emerging growth company as one with "total annual gross revenues of less than $1,000,000,000 during its most recently completed fiscal year." The article highlights the absurdity of such a definition, and contrasts this bill with other capital markets legislation before Congress.
- Summary by FizzLaw Team
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The Billion Dollar Emerging Company