SEC Reporting: Registration Statements for Initial Public Offerings

Level: Intermediate
Credits (50 min.hr.): 1
Prerequisites: Ability to prepare standard financial statements and evaluate financial statement disclosures.

The decision to take a company public is one of the most difficult decisions facing an owner. Once a decision to go public has been made, an elaborate preparation process begins.

Professional teams that include underwriters, accountants, attorneys, financial printers, and others must be established. The time lapse between the date of the first "all hands meeting" to the day the securities can be sold to the public can be from three to six months, sometimes even longer. During this time, fact finding must be undertaken, due diligence must be performed, documents must be drafted and filed with the SEC staff, a "road show" must be prepared and presented, and any number of other complicated tasks must be accomplished.

Course Highlights

• Advantages and disadvantages of going public
• Selecting the attorneys, accountants, underwriter
• The offering process
• Registration forms
• Analysis of key items on registration statement forms

Course Objectives

• Understand the registration process.
• Understand the roles of the various participants in the registration process.

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