JOBS Act EGC Revenue Cap Raised to $1.07 Billion to Adjust for Inflation
The SEC has raised the annual gross revenue cap for a company to qualify as an emerging growth company, or EGC, from $1 billion to $1.07 billion, to adjust for inflation. The Jumpstart Our Business Startups (JOBS) Act, which became law five years ago this week, requires the SEC to index to inflation the annual gross revenue cap every five years. The increase will become effective when published in the Federal Register, which we expect to occur within the next few days.
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