Step 2: The “All Hands” Meeting

Once all the members of the IPO team are recruited, you will hold a “kick-off” meeting where the whole team gets together to plan the timeline, discuss significant issues, and divide up the work. This meeting is normally organized and led by the investment banker with the assistance of their legal experts.

Everyone leaves this meeting with tasks to complete. The underwriter and their legal experts will immediately begin to acquaint themselves with the company. They will ask to see a seemingly endless list of items, including all corporate records, all financial statements and reports, and all the company’s major contracts and legal agreements. In order to understand the company better, they will interview senior management and visit key facilities.

Basically, every member of the IPO team will begin digging into the company’s financial and legal history, as well as its current financial and legal status. As they do this research, they will be gathering information to begin writing the company’s registration statement and prospectus required by the SEC.