SEC Offers Temporary Guidance for IPOs Amid Government Shutdown

According to PANews, the U.S. Securities and Exchange Commission (SEC) has issued temporary guidance for companies seeking to launch initial public offerings (IPOs) during the ongoing government shutdown. The guidance allows issuers to submit registration documents without specifying the exact offering price, with the documents automatically becoming effective after 20 days. However, companies may still be required to address inquiries or make revisions subsequently. The shutdown has resulted in approximately 90% of SEC staff being furloughed, causing a halt in IPO reviews. Companies such as Navan, Andersen Group, and cryptocurrency custody firm Bitgo, which have already filed for IPOs, can proceed with their marketing efforts under this new guidance.