How to Go Public

Form S-1 Registration Statement
Form SB-1, and Form SB-2 Registration Statements
Disclosure Obligations
Exemptions
Intrastate Offering Exemption
Private Offering Exemption
Regulation A
Regulation D
Rule 504
Rule 505
Rule 506
Accredited Investor Exemption
Going Public Consultation
Do I Qualify to Go Public?

Section 5 of the Securities Act prohibits the sale of securities until a registration statement has been filed with the SEC and has become "effective." (Although registration statements become public immediately upon filing with the Commission, it is illegal to sell the securities until the effective date.) It also prohibits the sale of any security without the delivery of a Prospectus that meets certain requirements. The basic registration statement consists of two principal parts:

• Part I
  Is the prospectus (the legal offering or "selling" document), which must be furnished to all purchasers of the securities. Your company - the "issuer" of the securities - is required to put in the printed prospectus a complete and accurate description of its business operations, financial condition, and management. The prospectus must be made available to everyone who buys the new issue, and also to anyone who is made an offer to purchase the securities.
  
  
• Part II
  Contains additional information available at the SEC for inspection by the public. (Copies of all disclosure documents filed with the SEC may be obtained by mail, for a nominal copying charge.)