Written by Edgar Agents on June 16, 2017

Submitting IPO confidentially to the SEC has become a popular strategy for emerging companies because many prefer to preserve their in-house data for obvious reasons. Nevertheless, an emerging company submitting DRS under the JOBS Act must still consider a few rules pertaining to their EDGAR filings.

The SEC lists answers to your most frequently asked questions related to confidential IPOs, and this is what the SEC had to say about your EDGAR filings.

  • The Securities Act registration filing fee for an emerging growth company using the confidential submission process is due when the registration statement is first filed publicly on EDGAR. DRS or DRS/A form types do not require registration fees.
  • If the emerging growth company does not conduct a traditional road show and does not engage in activities that would come within the definition of road show, other than test-the-waters communications that comply with Section 5(d), then its registration statement and confidential submissions should be filed publicly on EDGAR no later than 15 days before the anticipated date of effectiveness of the registration statement.
  • All confidential submissions must be filed on EDGAR at least 15 days before the road show. If an emerging growth company initially files its IPO registration statement on EDGAR, and then switches to the confidential submission process for subsequent amendments. The initial public filing, which preceded the confidential submissions, will not satisfy the requirement of publicly filing the registration statement within 15 days before the road show.

The SEC goes into further detail about the mandates concerning confidential IPOs, and we encourage companies to speak with the SEC directly for specific answers. But if you are looking for an efficient and compliant filing agency to work on your EDGAR filings, we encourage you to talk to one of our agents. You can reach us at www.edgaragents.com or call us at (732) 580-5036. We would also love to hear from you on any of our social networks: LinkedIn, Twitter and Google+.