Prior to drafting a Form S-1, the following steps should be taken:
- All-hands kickoff meeting (company, company’s counsel, underwriters, underwriter’s counsel, auditors).
- Meeting between company and auditors (determine requirements and commence preparation of necessary financial statements).
- Prepare presentation for business and legal due diligence.
- Prepare and distribute Directors’ and Officers’ Questionnaire to officers, directors, and 10% stockholders (“insiders”).
- Prepare a skeletal outline of the Form S-1 Prospectus/Registration Statement.
- These preparation steps usually take six to eight weeks to complete.