Learn the IPO process

Deep guides covering each phase of an IPO. Linked to real recent examples in our database — no abstract theory.

ipo fundamentals

What is an IPO? A complete plain-English guide

An initial public offering is the moment a private company sells shares to public investors and lists on an exchange. Here is what actually happens, from filing to first trade.

9 min read

The IPO process, step by step

Filing, SEC review, roadshow, pricing, listing — and what each phase actually involves for the company and its bankers.

11 min read

What is an IPO roadshow?

The roadshow is the IPO's marketing phase. Here is what happens, who is in the room, and how it shapes the price.

7 min read

Bookbuilding: how IPO prices are actually set

Most US IPOs are priced through bookbuilding — a structured collection of investor demand that the syndicate uses to recommend a final price and allocation.

8 min read

filings

S-1 explained: how to read an IPO prospectus

The S-1 is the single document every IPO investor reads. Here is what each section means and what to look for.

12 min read

post ipo

Lockup expiration: what happens 180 days after an IPO

After most IPOs, insiders are restricted from selling for 180 days. The expiration is one of the most-watched events in a newly public stock's first year.

7 min read

alternatives

Direct listing vs IPO: how the two paths to public markets differ

Direct listings and traditional IPOs both result in a stock listing on a public exchange — but they raise capital, set prices, and treat insiders very differently.

9 min read