Preparing for the closing of a US IPO

Copyright © 2025 LexisNexis
Published by a LexisNexis Corporate expert
Practice notes

Preparing for the closing of a US IPO

Copyright © 2025 LexisNexis

Published by a LexisNexis Corporate expert

Practice notes
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This Practice Note provides an overview of the procedures involved in the closing of a US initial public offering (IPO) with additional practical guidance on the steps required to action and complete a closing. Produced in partnership with Thomas France, a partner in the Corporate Transactional practice group of Venable LLP in Tysons Corner, Virginia office.

Closing an IPO

Under Rule 15c6–1 of the Securities Exchange Act 1934, as amended (Securities Exchange Act 1934), the closing of the initial public offering (IPO) must occur no later than the third business day after the pricing of the offering, or the fourth business day if the pricing occurs after the market closes. At closing, the company will authorise the Delivery of the Shares in the names and denominations provided by the underwriters and the underwriters will wire the offering proceeds, net of the Underwriting discounts and commissions, to the company and any selling shareholders. In addition, the parties will deliver all relevant documents specified in the closing memorandum or agenda.

Closing

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Jurisdiction(s):
United Kingdom
Key definition:
Securities definition
What does Securities mean?

This is one of the groups of regulated investments defined in the regulated activities order (the other groups being identified as contractually based investments and others).

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