Page 148 - Initial Public Offering - An Introduction to IPO on Wall Street

8. Actors
The formal IPO process starts six months to a year before the filing of an IPO with the
organizational session (often referred to as an All-Hands Meeting). From the time of the
organizational meeting to when the filing is deemed successful, the IPO process typically takes
five to nine months.

All members of the registration team will attend the organizational meeting to discuss the scope
of the IPO, set a timetable, and organize responsibilities. This meeting should be conducted
only when the external audit is almost complete. The organization will prepare the initial S-1
form and file it with the SEC a month or two after this meeting.
After the S-1 filing, the SEC will reply with comments demanding modifications to the S-1
filing. The business must then reply to the comments of the SEC and file an amended version
of the S-1. This process will continue until all SEC concerns are addressed.

Throughout the IPO process, multiple professional experts are involved. These consultants can
assist with several issues, including the IPO's fiscal, legal, accounting, due diligence,
subscription, and promotional activities.

Of course, the business itself plays a vital part in the IPO process. The business must plan and
generate all the relevant information and data that is needed and for which it is ultimately
accountable as the issuer of the stock/shares.

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