EGC Corporate Governance Practices (May 2018)

A Survey and Related Resources PAGE B-2 EGC IPO Process S-1 EFFECTIVE The SEC must review the draft registration statement on a confidential basis An EGC may remain in the confidential review process until required to file Form S-1, with the SEC issuing comments and the EGC responding with draft submissions An EGC or any other person authorized by the EGC can “test-the-waters” in communications with QIBs and institutional accredited investors before or during the IPO The Form S-1 must be filed publicly 15 days before the road show; at this time, all prior confidential submissions become available publicly on EDGAR Broker-dealers, including those participating in the IPO, can publish research before, during, or after the IPO without the research being deemed an “offer” under the Securities Act After filing the Form S-1, the process is the same as a pre-JOBS Act IPO ROAD SHOW FILE S-1 SUBMIT DRAFT S-1