Form S-1
The SEC registration statement a company files to go public via IPO.
Definition
Form S-1 is the initial registration statement filed with the SEC when a company plans to go public. It contains comprehensive information including financial statements, risk factors, management discussion, executive compensation, cap table details, and business description. The S-1 is publicly available and provides the most detailed look at a company's financials ever disclosed. It goes through SEC review and multiple amendments before the IPO.
Why it matters
When your company files an S-1, you will see detailed financials for the first time (if you have not had access to financial info). The S-1 reveals the full cap table, all investor preferences, and executive compensation. Read it carefully to understand your equity's position.
Example
Your company files an S-1 revealing $200M ARR, $50M in net losses, and a cap table showing investors hold $120M in liquidation preferences. You can now see exactly how your common stock fits into the payout waterfall.