What to make of the SEC’s rule change on confidential IPOs

July 11, 2017
Technical.ly Philly

Types : Bylined Articles

Effective yesterday, July 10, 2017, the U.S. Securities and Exchange Commission expanded its confidential initial public offering filing option to all companies seeking to go public.

For those who are unaware, in order to become publicly traded on U.S. equity markets, companies must first file a Form S-1 registration statement with the SEC. This filing, which has historically been made available to the public via the SEC’s EDGAR system as soon as it is filed, must be submitted months before an IPO and requires the disclosure of detailed information that is of interest to potential investors and competitors (i.e. future plans, risk factors and financial statements).


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