Saturday, September 20, 2008
Registration of Securities
| Registration Statements Offering registrations are used to register securities for an initial public offering. Part 1 of such a registration is the publication of a preliminary prospectus (commonly referred to as a red herring, a reference to the red writing on the left side of the cover warning that the prospectus is only preliminary). Part 2 of the registration contains information not required in the prospectus, including expenses of issuance and distribution and indemnification of directors and officers. Trading registrations are filed to permit trading among investors on a securities exchange or in the over-the-counter market. These registrations do not include a prospectus. Prospectus After reviewing the offering registration, the SEC chooses whether or not to approve the sale of the security. If the SEC approves the sale, any changes required by the SEC are incorporated into the prospectus. This document must be made available to investors before offering the stock for sale, and it includes the offering price of the stock, which might have changed since the publication of the red herring. Form 8 This form is used to amend or supplement any 1934 Act report already submitted. Listing Application Like the annual report to shareholders, a listing application is not required by the SEC but rather is submitted to the stock exchange (e.g. NYSE or AMEX) to document proposed new listings. It is usually filed at the same time the Form 8 is filed with the SEC. |
posted by hearthy at 7:55 PM
