The SEC recently finalized a rule, effective September 10, 2018, that expands the definition of “smaller reporting company” (“SRC”) to include registrants with (i) a public float of less than $250 million, or (ii) annual revenues of less than $100 million for the previous year and either no public float or a public float of less than $700 million. If your company qualifies as an SRC as defined in the rule, you may take advantage of the reduced disclosure requirements of Regulation S-K in filing periodic reports and registration statements with the SEC.
A summary of the final rule is attached.