IPO filings

A company going public files an S-1 (or an F-1 from abroad) with the SEC. Underline lists the newest registrations on EDGAR and reads each one from its own tables and footnotes.

The reading sets side by side what a prospectus prints apart: how much of a headline loss is a change in the fair value of the company's own notes rather than cash, what the price range values the company at, and which figures changed between one amendment and the next. Every figure is the filer's; no model writes any of it.

A brief describes what a company reported and grades the quarter. It is not investment advice, and the grade is a read on the quarter rather than a price target.

Underline · Earnings calendar · IPO filings · How a brief is built · Plans