So I understand that the term "float" refers to th

So I understand that the term "float" refers to the regular shares a company has issued to the public that are available for investors to trade, and that if the float is low (due to many shares held closely by long-term investors) it can lead to a much higher PPS, due to supply and demand when we reach the NASDOC.

Is that what is important about the float, or am I missing something???