To prepare for going public, companies should:
- Identify any changes necessary to comply with applicable exchange listing and SEC requirements. For example, NASDAQ now requires companies listed there to meet certain minimum diversity targets and disclose diversity statistics regarding board composition.
- Understand the requirements for independent directors and the transition rules that will apply after your IPO.
- Create committees (as needed), and create or refine committee charters to conform to structure:
- Audit Committee.
- Compensation Committee.
- Corporate Governance Committee.