Doc of the Day: Preparing for an IPO

Jackson Walker’s comprehensive overview of the preparations and process of an initial public offering:

“IPO steps include the following:The company must select an underwriting team to manage the public offering of securities; the underwriters will undertake due diligence and negotiate an underwriting agreement that is reviewed by FINRAThe company must complete an audit of its financial statements for the last two to three yearsThe company, working with its underwriters, auditors and counsel, must prepare a registration statement and file it with the SEC along with amendments thereto necessitated by comments received from the SECThe company, working with its underwriters, must market its securities to potential investors (the ‘road show’)The company must file a listing application and take other necessary steps for listing its common stock on a national securities exchange, such as the NYSE or the Nasdaq Stock MarketThe company must select a transfer agent and registrar for its common stock…”

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