Last week, the SEC's Division of Corporation Finance issued updated guidance on processing procedures for draft registration statements. Below are seven frequently asked questions related to the new guidance:
- Do we have the ability to confidentially submit a draft registration statement(s) in connection with our IPO or within 12 months of the effective date of the IPO registration statement?
- What standard should we use when determining whether financial information can be excluded?
- What is the deadline for publicly filing my registration statement?
- What annual and interim financial information may be excluded from the registration statement?
- What is an example of the financial statement policy?
- Can we omit financial statements of other entities from our filing or submission?
- Does the FAST Act and updated Corp Fin policy regarding the omission of certain financials also apply to pro forma financials under Article 11 of Regulation S-X?
To continue reading this article on the firm's Securities Law Exchange blog, please click here to read the FAQ summary table on the new SEC guidance for draft registration statements.
Bass, Berry & Sims' Securities Law Exchange blog features commentary and practical insight on SEC updates for publicly traded companies.