S-1
SEC Form S-1 is the initial registration form for new securities required by the SEC for public companies that are based in the U.S. Any security that meets the criteria must have an S-1 filing before shares can be listed on a national exchange, such as the New York Stock Exchange.
Definition: An S-1 is a registration statement submitted by a company during its initial public offering (IPO), containing detailed information about the company's business, financial status, management, and more. It is filed with the U.S. Securities and Exchange Commission (SEC) to provide potential investors with comprehensive information about the company.
Origin: The use of the S-1 form dates back to the Securities Act of 1933, which requires companies to file a registration statement with the SEC before publicly issuing securities. The S-1 form is one of the most commonly used registration statements under this act.
Categories and Characteristics: The S-1 form is divided into several key sections:
- Business Overview: Describes the company's business model, products, and services.
- Financial Information: Provides the company's financial statements and financial condition analysis.
- Management Information: Introduces the company's executives and board members.
- Risk Factors: Lists the major risks the company faces.
Specific Cases:
- Facebook's S-1: In 2012, Facebook filed an S-1 form detailing its user growth, revenue sources, and future development plans. This document helped investors understand Facebook's business model and market potential.
- Uber's S-1: In 2019, Uber filed an S-1 form disclosing its global business expansion plans, financial status, and legal and regulatory risks. This document provided investors with comprehensive information about the company.
Common Questions:
- Why is the S-1 form so important? The S-1 form provides comprehensive information about the company, helping investors make informed investment decisions.
- What happens after the S-1 form is submitted? The SEC reviews the S-1 form and may require the company to provide additional information or make revisions until the document meets the required standards.
