SEC Permits Draft Registration Statements for All Initial Public Offerings and Direct Listings -
On June 29, 2017, the Securities and Exchange Commission (SEC) announced that the Division of Corporation Finance will permit all companies to submit draft registration statements relating to initial public offerings (IPOs) for review on a nonpublic basis. Previously, this process was only available for use by emerging growth companies (EGCs) and, in certain circumstances, foreign private issuers. Now, with this change, all issuers may submit a registration statement in draft form for an initial registration, as well as for offerings made within the first year after a company has become an SEC-reporting company.
This new policy took effect on July 10, 2017.
Please see full publication below for more information.