Coronavirus: Additional Relief from NYSE Shareholder Approval Requirements Facilitates Raising Urgently Needed Capital (May 2020)
Client Briefings
Introduction
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Companies listed on the New York Stock Exchange seeking to rapidly raise urgently needed capital due to circumstances related to the COVID-19 pandemic may benefit from new temporary conditional relief from the NYSE's shareholder approval requirements. A release issued by the U.S. Securities and Exchange Commission approving the immediate effectiveness of Section 312.03T of the NYSE's Listed Company Manual is available here. This relief is comparable to a recently approved temporary exception to Nasdaq's shareholder approval requirements. The SEC's release approving Nasdaq's Listing Rule 5636T is available here.
