SEC Staff Provides Additional Relief to Facilitate IPO Filings
On August 17, the SEC’s Division of Corporation Finance announced updated guidance that should reduce the time and expense for companies who are preparing to go public. Under the new guidance, a company that submits a draft registration statement to the SEC can now exclude interim financial statements if that interim financial information would not need to be included in the registration statement when it is publicly filed, or at the time of the offering, for emerging growth companies (“EGCs”).
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