Regulatory Alerts2025-05-14
Decision No. 2025-PDG-0034: Coordinated General Decision 45-935 Regarding Exemption from Certain Conditions for Listed Issuer Financing Exemption
The Autorité des marchés financiers (AMF) issued Coordinated General Decision 45-935 to exempt listed issuers from specific disclosure and dilution conditions under the prospectus exemption for issuer financing. This exemption applies provided that the total placement amount does not exceed $25 million or 20% of market capitalization (capped at $50 million) and does not result in more than a 50% dilution of outstanding listed equity shares. The decision also prohibits changes in control or acquisition of a majority of directors and requires specific bolded disclosures on the financing document title page.
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