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A company that is thinking about going public should start acting like a public company as much as 2 years prior to the IPO preparing detailed financial results on a regular basis and developing a business plan. Once a company decides to go public, it needs to pick an IPO team, consisting of its lead investment banker, accountant and a law firm. The process typically begins with an "all hands" meeting 8 weeks before the company officially registers with the SEC to set a timetable for the IPO and assign duties. The most important and time consuming task facing the IPO team is their development of the prospectus, a business document that basically serves as a brochure for the company. The SEC |
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imposes a quiet period until 30 days after a stock starts trading so their prospectus has to do most of the talking and selling for the management team.
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