Written by:
Image
Paul Tracy

Paul has been a respected figure in the financial markets for more than two decades.

Prior to starting InvestingAnswers, Paul founded and managed one of the most influential investment research firms in America, with more than 2 million monthly readers. While there, Paul authored and edited thousands of financial research briefs, was published on Nasdaq. com, Yahoo Finance, and dozens of other prominent media outlets, and appeared as a guest expert at prominent radio shows and i...

View all posts
Updated November 11, 2020

What is a Quiet Filing?

A quiet filing is an IPO filing that intentionally excludes certain information.

How Does a Quiet Filing Work?

When a company is getting ready to go public, it files an SEC Form S-1, which is also called a prospectus. The Securities Act of 1933 requires the prospectus to fully disclose all material information about the issuer, including a description of the issuer’s business, the name and addresses of key company officers, the salaries and business histories of each officer, the ownership positions of each officer, the company’s capitalization, an explanation of how it will use the proceeds from the offering, and descriptions of any legal proceedings the company is involved in.

In a quiet filing, the company sends the form to the SEC but leaves much of it blank and then provides the details separately via amendments.

Why Does a Quiet Filing Matter?

Quiet filings buy time. They allow an issuer to file the proper paperwork with the SEC but also give it time to delay revealing key information. In many cases, the filer just doesn't know the information; in other cases, the underwriters and the issuer want to get the ball rolling but haven't resolved certain issues.

Ask an Expert about Quiet Filing
At InvestingAnswers, all of our content is verified for accuracy by Paul Tracy and our team of certified financial experts. We pride ourselves on quality, research, and transparency, and we value your feedback. Below you'll find answers to some of the most common reader questions about Quiet Filing.
Be the first to ask a question

If you have a question about Quiet Filing, then please ask Paul.

Ask a question

Paul has been a respected figure in the financial markets for more than two decades. Prior to starting InvestingAnswers, Paul founded and managed one of the most influential investment research firms in America, with more than 2 million monthly readers.

If you have a question about Quiet Filing, then please ask Paul.

Ask a question Read more from Paul

Read this next

Don't Know a Financial Term?
Search our library of 4,000+ terms
Paul Tracy - profile
Ask an Expert about Quiet Filing

By submitting this form you agree with our Privacy Policy

Share
close