With an approved I140, can COS from L1B to H1B be CAP exempt?


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Am on L1B maxing out on May 2020. I have PERM approved and my I-140 is in Initial Review status. Am expecting the approval to come before my L1B max out. I understand that I will be needing a H1B to extend my stay by using I-140, my question here is, do I have to be within the CAP of 65,000 H1B to change over my status from L1B to H1B. There is no employer change in all of this history of five years and I have never held a H1B visa before. Please advise.

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