DEFINITION of 'SEC Form 10SB12B'

SEC Form 10SB12B was a filing with the Securities and Exchange Commission (SEC) for "small business issuers" to register new securities for sale to the public. Also known as the "Initial Registration of Securities for a Small Business Form," the document was discontinued in February 2008 to ease regulatory burden and include a larger number of small firms that desired to offer public securities. Small business issuers preparing SEC Form 10SB12B  had to include information about the company's business, management, number of shares to be issued, par value of issued shares, and the exchange where the shares would trade.

BREAKING DOWN 'SEC Form 10SB12B'

In February 2008, the SEC adopted a new system of disclosure rules for smaller companies for filing registration statements and periodic reports. "Small business issuers," a defined term applicable for SEC Form 10SB12B, was changed to "smaller reporting companies" with a new set of qualification criteria. These smaller reporting companies, beginning with the February 4, 2008 effective date, were required to use standard forms including Form S-1, Form 10-K and Form 10-Q for filings with the SEC.

To be considered a "smaller reporting company" by the SEC, the issuer has to have a common equity public float of less than $75 million or, if unable to calculate its public float at the time of registration, have annual revenue of $50 million or less.

Filings of SEC Form 10SB12B for former "small business issuers" that registered new securities prior to the changeover in the document filing requirement are still kept in SEC's EDGAR database.

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