Encouraging Public Offerings Act of 2026

The Encouraging Public Offerings Act of 2026 expands the ability of companies to discuss potential stock sales with investors before officially registering the offering. It allows all issuers, not just emerging growth companies, to use confidential "testing the waters" communications and submit draft registration statements for private review by the Securities and Exchange Commission. These draft submissions must be made at least 15 days before a public road show or the requested filing date, after which the documents become public. The bill also requires the Commission to report to Congress before implementing any additional rules for non-emerging growth companies regarding these new submission processes.