Josh Gottheimer: “Mr. Speaker, as a special accommodation for their smaller size and to reduce their regulatory burden, emerging growth…”

“Mr. Speaker, as a special accommodation for their smaller size and to reduce their regulatory burden, emerging growth companies, known as EGCs, are typically only required to provide 2 years of audited financials when they first go public. Other public companies, on the other hand, are required to provide 3 years of audited financials when they go public. In some situations, an EGC must provide 3 years of financials, such as an EGC acquiring another company or conducting a follow-on offering after its IPO. This bill will eliminate this regulatory hurdle by ensuring EGCs only need to provide 2 years, not 3, of audited financials across the board, whether for an IPO, an acquisition, or a follow-on offering. This bipartisan legislation will further reduce the burden on EGCs trying to raise capital, cutting red tape and burdensome regulations to help unleash economic growth. Mr. Speaker, I urge my colleagues to vote ``yes'' on this bipartisan bill, and I reserve the balance of my time.”