S. 3216 — Greenlighting Growth Act

This section revises financial statement requirements for emerging growth companies (EGCs)—public companies with annual gross revenues below $1.235 billion receiving scaled disclosures under the JOBS Act—in registration statements under the Securities Act of 1933 and listing applications under the Securities Exchange Act of 1934 by exempting them from presenting acquired company financial statements or information otherwise required under Regulation S-X §§210.3-05 or 210.8-04 (i.e., pro forma financials for significant acquisitions) for any period prior to the EGC's earliest audited period presented in connection with its initial public offering or listing application. (Thus, this exemption applies permanently, even after the issuer ceases to qualify as an EGC.)