Ropes & Gray’s IPO Resource Center

Resources and practical guidance for taking your company public. For additional information about accessing the public markets and how we can help you, please contact us.

IPO Guides

Initial Public Offerings: Desktop Guide

An initial public offering is a transformative milestone for any company. This guide reviews the IPO process, including key participants and timeline, as well as all the factors your company should take into consideration when going public, including evaluating IPO readiness, structural considerations, the registration statement, and additional key documentation.

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Communications During an IPO

Under the securities laws, strict rules apply to a company’s public statements made during the IPO process. This guide summarizes best practices for communications during three key time periods: (1) pre-filing, (2) the so-called “waiting period” after the initial filing, and (3) the post-effective period after the offering commences.

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Financial Statements & Non-GAAP Measures

This guide reviews the general financial statement requirements and best practices for disclosure of Non-GAAP financial measures.

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Obligations as a Public Company

This guide reviews the periodic reports a public company must file with the Securities and Exchange Commission, consisting, for domestic issuers, of annual reports on Form 10-K and quarterly reports on Form 10-Q, as well as current reports on Form 8-K. Foreign private issuers file annual reports on Form 20-F and current reports on Form 6-K.

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Ropes & Gray 2024 New York IPO Accelerator Summit

Ropes & Gray welcomed legal and finance professionals on Thursday, May 2, to New York’s Whitby Hotel for its IPO Accelerator Summit. The event gathered leaders of and advisers to successful public companies to share their strategies on navigating the legal, financial, logistical and regulatory hurdles to achieve a successful IPO and setting a foundation for public company success. PwC and Workiva were event co-sponsors. To read more about the event, please see here.

Additional Resources

Sample Directors’ and Officers’ (D&O) Questionnaire

This is an illustrative example of a questionnaire that current and prospective directors, executive officers and key employees will be asked to complete in order to obtain the information needed to prepare required disclosures in the Registration Statement and ensure compliance with applicable SEC and stock exchange rules and regulations.

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Sample Due Diligence Request (General)

The due diligence exercise is a critically important liability exercise, and in the lead-up to an IPO process a company should begin gathering responsive diligence materials. This is an illustrative example of a due diligence request list that a company will be asked to respond to via the population of applicable documents in a virtual dataroom.

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Sample Due Diligence Request (Life Sciences-Focused)

This an illustrative example of a due diligence request that a life sciences-focused company will be asked to respond to during the due diligence exercise.

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Sample IPO Checklist

This is an illustrative example of key workstreams to be completed between the initiation of an IPO process and the closing of the transaction.

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Timeline and Key Milestones

This resource sets out the timeline and key milestones in an IPO process, which collectively take anywhere from approximately four to sixth months from organizational meeting to the closing of the IPO.

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Foreign Private Issuer (FPI) Status

Certain entities incorporated under the laws of a jurisdiction outside the US will qualify as a foreign private issuer (FPI) if certain shareholder and business contact tests are met. This resources outlines the applicable tests to determine FPI status.

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