3 ms·
Just to preempt most of the usual snarky comments -- What's confidential is the contents of the filing, not the fact. All the initial S-1 filings I'm aware of
by dbt00 6y ago
Just to preempt most of the usual snarky comments --
What's confidential is the contents of the filing, not the fact.
All the initial S-1 filings I'm aware of are confidential. After amendments (S-1A filings), the resulting document can be made public. At this time, any details of offering are still volatile, and there's no reason to force companies to publish that information until the final offering details are solid.
- regulation_d 6y agoConfidential S-1's are reasonably new (2012) and limited to "emerging growth" companies. But yeah, I imagine most S-1s discussed on HN take advantage of that provision. EDIT: ohh, that changed in 2017. Now all companies can file confidentially.
- vmception 6y agoIn all of my sales I have modified the offering midstream after feedback from investors that jumped through hoops to see how to invest and balked at the numbers. All advisors I've ever had all completely missed the mark about what the market is interested in and what a good deal looks like. And then after modifying its published publicly and that's the only record of what the terms ever were. In the public's mind we never mispriced or raised or lowered based on demand. Confidential S-1's are perfect for that same result.
- ponker 6y agoAll of your sales? Have you founded multiple public companies or are you an investment banker or something?
- xpe 6y ago> All advisors I've ever had all completely missed the mark about what the market is interested in and what a good deal looks like. May I ask: 1. How many data points are you talking about? (how many pieces of advice? how many advisors?) 2. (In cases where quantitative analysis makes sense) what kind of statistics have you seen around percentage error?