What is an S-1? IPO filings explained
An S-1 registration statement is how a company registers shares with the SEC, usually before an IPO. S-1 vs F-1, amendments, and what to read first.
What an S-1 is
An S-1 is the registration statement a U.S. company files to register shares for sale, most often for an initial public offering. Foreign companies use the F-1.
What's inside
The prospectus inside covers the business, risk factors, financial statements, how the money will be used, who owns the company, and executive pay. Risk factors and the financials are where many readers start.
Amendments and pricing
Companies often file S-1/A amendments as the offering takes shape, adding the price range and share count. The final prospectus is filed after the offering prices. Many companies first submit a draft confidentially and make it public before marketing the deal.
Quick answers
What is the difference between S-1 and F-1?
S-1 is for U.S. companies; F-1 is for foreign private issuers.
Does an S-1 mean an IPO is happening?
Usually it's a step toward one, but offerings can be delayed or withdrawn.
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