On April 14, 2010, the SEC issued an order approving amendments to NASDAQ’s Global Select Market listing standards. NASDAQ amended Rule 5315(f)(3) to adopt a fourth initial listing standard that allows a company to list if it has at least $80 million in total assets, $55 million in stockholders’ equity and $160 million of market capitalization. Companies that qualify under these standards must also meet the other requirements of Rule 5315, which include ownership and market value requirements.

NASDAQ also amended Rule 5315(f)(2)(C) to reduce the market value of the publicly held shares requirement from $70 million to $45 million for companies listing in connection with an initial public offering or that are affiliated with, or a spin-off from, another company listed on the Global Select Market. In addition, NASDAQ added Rule 5310(i) which provides that a company whose business plan is to complete an initial public offering and then engage in a merger or acquisition with unidentified companies within a certain period of time (i.e., a special purpose acquisition company) is not eligible to list on the Global Select Market.

The amendments were effective upon filing with the SEC.

http://www.sec.gov/rules/sro/nasdaq/2010/34-61904.pdf