Notice2022-11206
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Modify Certain Pricing Limitations for Companies Listing in Connection With a Direct Listing With a Capital Raise
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
May 25, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 101 (Wednesday, May 25, 2022)</title>
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[Federal Register Volume 87, Number 101 (Wednesday, May 25, 2022)]
[Notices]
[Pages 31915-31916]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-11206]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-94947; File No. SR-NASDAQ-2022-027]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Designation of a Longer Period for Commission Action on a
Proposed Rule Change To Modify Certain Pricing Limitations for
Companies Listing in Connection With a Direct Listing With a Capital
Raise
May 19, 2022.
On March 21, 2022, The Nasdaq Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to allow companies to modify certain pricing
limitations for companies listing in connection with a Direct Listing
with a Capital Raise in which the company will sell shares itself in
the opening auction on the first day of trading on Nasdaq. The proposed
rule change was published for comment in the Federal Register on April
8, 2022.\3\ The Commission has received no comments on the proposed
rule change.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 94592 (April 4,
2022), 87 FR 20905 (April 8, 2022).
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Section 19(b)(2) of the Act \4\ provides that within 45 days of the
publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding, or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day after publication of the notice for this proposed rule change
is May 23, 2022. The Commission is extending this 45-day time period.
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\4\ 15 U.S.C. 78s(b)(2).
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The Commission finds it appropriate to designate a longer period
within which to take action on the proposed rule change so that it has
sufficient time to consider the proposed rule change. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates July
7, 2022 as the date by which the Commission shall either approve or
disapprove, or institute
[[Page 31916]]
proceedings to determine whether to disapprove, the proposed rule
change (File No. SR- NASDAQ-2022-027).
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\5\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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\6\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-11206 Filed 5-24-22; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on May 25, 2022.
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