Equity underwriters are usually investment banks with a team of IPO specialists. They help to market, distribute and administer the public issuance of securities.

A prospectus is a legal document filed with the Securities Exchange Commission (SEC) to accompany securities or investment offerings for sale.Containing key facts and information about the offering, a prospectus makes investors more aware of the risks of an investment.  A prospectus also protects the company from claims that it didn’t disclose enough information about itself or the securities in question.