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Man, those test proctors really come down hard on talking. I got kicked out for bellowing quietly in the corner and chewing on a test booklet.

Phase 1: Registration

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Phase 1: Registration

IPO/Shmipieau: An IPO In Three Slices

An IPO, legally, is divided into three component parts: Registration, Cooling, and Sales.

IPO Registration

The securities you are selling (those in BUBB) must be registered. Ooh. Scary, Big Brother-y word. What does "registered" mean? Well, the '33 Act just outlines the picayune elements that must be disclosed and provides criminal penalties for the courts to toss you in jail if you commit fraud. The registration statement is the document that is filed...

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Next: Phase 2: Cooling  
  Prev: The IPO Process

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