SEC Exemptive Order Reduces Minimum Offering Period for Certain Tender Offers

On April 16, 2026, the Division of Corporation Finance (Corp Fin) of the Securities and Exchange Commission issued an Exemptive Order for Tender Offers for Equity Securities, which shortens the offering period for certain types of tender offers from 20 business days to 10 business days. In reducing the offering period for a limited scope of tender offers, Corp Fin seeks to ensure greater investor protection “[t]o address market inefficiencies, better reflect technological advancements, and... By: Cozen O'Connor