---
title: "Check whether a further share acquisition increases the holding"
url: "https://ailawframework.com/practice/competition-and-consumer-law/check-a-share-acquisition-against-the-additional-voting-power-notificati/united-states"
type: "task_jurisdiction_version"
site: "AI Law Framework"
id: "A29-CO20261022-3-US"
practice_area: "Competition & Consumer Law (ACCC / ACL)"
tier: "yellow"
lawyer_review: "required"
jurisdictions: ["US"]
last_reviewed: "2026-10-22"
---

# Check whether a further share acquisition increases the holding

> From the cap table and the acquisition papers, record the acquiring person's present percentage of outstanding voting securities, the percentage the file says would be held after the acquisition, whether the…

Canonical page: https://ailawframework.com/practice/competition-and-consumer-law/check-a-share-acquisition-against-the-additional-voting-power-notificati/united-states  
Last reviewed: 2026-10-22

Site index for agents: https://ailawframework.com/llms.txt

## Key facts

| Fact | Value |
| --- | --- |
| Practice area | [Competition & Consumer Law (ACCC / ACL)](https://ailawframework.com/practice/competition-and-consumer-law.md) |
| Human involvement | Yellow: Lawyer and AI draft together |
| How AI is used | From the cap table and the acquisition papers, record the acquiring person's present percentage of outstanding voting securities, the percentage the file says would be held after the acquisition, whether the acquisition is described as solely for investment, and the holdings of each affiliate the file identifies. Do not decide that a filing is required or excused. |
| What the lawyer must review | The lawyer applies 15 USC 18a. Subsection (c)(10) exempts acquisitions of voting securities if, as a result, the voting securities acquired do not increase, directly or indirectly, the acquiring person's percentage share of the outstanding voting securities of the issuer. Subsection (c)(9) exempts acquisitions solely for investment if, as a result, the securities acquired or held do not exceed 10 percent of the outstanding voting securities of the issuer. Subsection (c)(3) exempts an acquisition of voting securities of an issuer at least 50 percent of whose voting securities the acquiring person already owns. Subsection (b)(3)(B) says the amount or percentage held or acquired is determined by aggregating the holdings of the person and each affiliate. An acquisition that increases the percentage is outside subsection (c)(10). Whether a filing is then required depends on the rest of the section, including the size tests and the other exemptions. The FTC thresholds page states the 2026 adjusted size thresholds that take effect on 17 February 2026. The lawyer uses those figures if the size tests are reached. This section does not create a separate notice that is triggered only because voting power increased. |
| Written for | United States |
| Applies to | [Check a share acquisition against the additional voting-power notification requirements](https://ailawframework.com/practice/competition-and-consumer-law/check-a-share-acquisition-against-the-additional-voting-power-notificati.md) |

## Checking plan

- What the AI does: From the cap table and the acquisition papers, record the acquiring person's present percentage of outstanding voting securities, the percentage the file says would be held after the acquisition, whether the acquisition is described as solely for investment, and the holdings of each affiliate the file identifies. Do not decide that a filing is required or excused.
- Basis: Checked against the linked sources on 22 October 2026. Confirm the current instrument before reliance.

## Notes

- Subsection (c)(10) is an exemption for an acquisition that does not increase the percentage. It is not an extra filing for one that does.
- Affiliate holdings are aggregated under subsection (b)(3)(B). The 10 percent investment exemption is subsection (c)(9), and it requires that the purpose be solely investment.

## Sources

- [15 USC 18a, premerger notification and waiting period](https://www.law.cornell.edu/uscode/text/15/18a) (checked 2026-10-22)
- [FTC, current HSR jurisdictional thresholds](https://www.ftc.gov/enforcement/premerger-notification-program/current-thresholds) (checked 2026-10-22)

*Practice guidance for planning and review. Confirm current primary sources and the requirements of the actual matter. This is general information, not legal advice.*