EGC Corporate Governance Practices (May 2018)

A Survey and Related Resources PAGE B-5  During this “test-the-waters” process, the underwriter cannot solicit/confirm an order without a preliminary prospectus.  The content of these conversations should be discussed and perhaps scripted.  To the extent that written materials are used, counsel will want to ensure that the materials are consistent with the disclosures that will ultimately be included in the EGC’s registration statement.