IPO Lock-Ups: File or Confidentially Submit?


Fordham Law alumna Yelena Dunaevsky ’02 wrote a post in Bloomberg BNA about practical tips on IPOs.

IPOs have been jumping off the shelves lately. Last week 10 companies went public in the U.S. and this week, IPOs on the calendar are expected to have the largest one-week raise since the good old days of 2014. Stitch Fix, an online personal shopping service, is gearing up to raise around $200 million and Workspace Property Trust, a real estate investment company, is vying for about $570 million. While the IPO investors are cheering and issuers rubbing their hands in anticipation of wild fame and prosperity, the lawyers are almost certainly burning the midnight oil on all of these deals. And in the middle of the night those same lawyers might find themselves scrambling for the right balance of the disclosure language in their prospectus and the most up-to-date formulations of reps, warranties and covenants in their underwriting agreements.


Here is where some good practical tips from a panel on IPOs and Public Offerings by Seasoned Issuers, held at last week’s 49th Annual PLI Institute on Securities Regulation, could come in handy.

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