Series 79: Well-Known Seasoned Issuer

Well-Known Seasoned Issuer

Securities Act Rule 405 defines a well-known seasoned issuer (WKSI, pronounced “wick-see”) as an issuer that is eligible to use Form S-3—or Form F-3, the equivalent for foreign issuers—and that either:

• • Has a worldwide public float of at least $700 million in voting and non-voting common equity

or

• • Has issued at least $1 billion in nonconvertible securities, other than common equity, in primary offerings for cash during the prior three years

A majority-owned subsidiary of a WKSI may qualify as a WKSI on its own account, p