![]() This one-third rule is called the "baby shelf rule." Public float is the portion of shares that are in the hands of public investors. For companies that have less than $75 million, they are limited to one-third of the market value in any trailing 12-month period. They need to have at least $75 million in public float.The company already has securities registered in accordance with the Securities Exchange Act of 1934.The company is organized within the United States, a territory of the U.S., or the District of Columbia, and has its main business operations in the U.S.In order to use Form S-3 for securities, your company must meet certain requirements: Form S-3 can be used by a company one year after an IPO. Form S-3 is a shorter registration form than Form S-1, which is used in an initial stock launch or IPO. ![]() S-3 registration gives investors the right to demand that a company registers their shares using Form S-3. Form S-3 can be used by a company that qualifies, in order to register securities under the Securities Act of 1933, instead of using the original Form S-1. In order to use Form S-3, certain criteria must be met. Form S-3 is a simplified securities and exchange form that registers securities for companies. ![]()
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