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I'm a little confused. As far as I can tell, the time between publicizing the S-1 to IPO seems to be 28 or 29 days for 99% of companies. This was true for Uber,
by akavi 7y ago
I'm a little confused. As far as I can tell, the time between publicizing the S-1 to IPO seems to be 28 or 29 days for 99% of companies. This was true for Uber, Lyft, Pinterest, and PagerDuty, plus the 3 companies I spot checked on Nasdaq's IPO page just now.
So, given that, isn't it an all but forgone conclusion that Slack's IPO will be on May 24th? Why's this a big deal then?
- codingdave 7y agoIt isn't about the date, not directly. It is about creating publicity before the IPO. They are allowed to talk about the company. But they are not allowed to say anything new. They can re-phrase the registration statement, and not much else. If they said more, the SEC may re-start the quiet period and delay the date.
- blihp 7y agoThe issue isn't about giving away any big secret, it's about violating the 'quiet period' rules. It's a 'if you give them an inch, they'll take a mile' situation regarding what some insiders will try to sneak in to interviews/statements if they can get away with it. So the potential punishment of having their IPO date pushed back (or worse), even for something seemingly as trivial as saying 'soon', generally keeps people in line.