Registration is the process by which a company files required documents with the Securities and Exchange Commission (SEC), detailing the particulars of a proposed public offering. The registration typically has two parts: the prospectus and private filings. The prospectus is a document given to every investor that purchases the security while the private filing is information given to the SEC for inspection.1
The process of an initial public offering (IPO) is a long and complex one, requiring many months of work and tremendous amounts of documentation. When registering for an IPO, a company issuing shares must reveal essential facts and detailed information about its business during the registration process.
This type of information includes a description of its business and assets, a description of the security being offered, further details of the offering, a description and names of the company’s management, and the company’s financial statements, which have been certified by an accountant, working independently of the company.