{
  "title": "How to Do an IPO: Readiness, the S-1, Roadshow, Costs and Timeline",
  "url": "https://acquisitions.com/blog/how-to-do-an-ipo/",
  "author": "Moran Pober",
  "publisher": "Acquisitions.com",
  "published": "2026-10-25",
  "updated": "2026-10-25",
  "section": "IPOs and SPACs",
  "keyword": "how to do an IPO",
  "short_answer": "An IPO is a registered sale of shares to the public plus a listing on an exchange. You need audited financials, a board that meets exchange rules, and a business big enough for Nasdaq or NYSE standards. You then file a Form S-1 that the SEC reviews, market the shares on a roadshow, and price. Plan on 12 to 18 months and an underwriting fee of 4% to 7%.",
  "facts": {
    "Nasdaq Capital Market, Equity Standard": "$5 million stockholders' equity, $15 million market value of unrestricted publicly held shares, two-year operating history, $4 bid price, 300 round-lot holders",
    "Nasdaq Capital Market, Net Income Standard": "$750,000 net income from continuing operations in the latest year or two of the last three, $4 million equity, $15 million public float",
    "Nasdaq Global Select, Earnings Standard": "Pre-tax earnings of $11 million in total over three years, positive in each, and at least $2.2 million in each of the last two",
    "NYSE, Earnings Test": "Adjusted pre-tax income of $10 million in total over three years, with $2 million in each of the last two; plus 400 round-lot holders, 1.1 million publicly held shares and a $40 million public float for an IPO"
  },
  "sources": [
    "https://listingcenter.nasdaq.com/assets/initialguide.pdf",
    "https://www.nyse.com/regulation/initial-listings",
    "https://www.sec.gov/smallbusiness/goingpublic/registrationstatement",
    "https://www.sec.gov/divisions/corpfin/cffilingreview.htm",
    "https://www.sec.gov/resources-small-businesses/going-public/emerging-growth-companies",
    "https://www.sec.gov/resources-small-businesses/going-public/exchange-act-reporting-registration",
    "https://www.investor.gov/introduction-investing/investing-basics/glossary/initial-public-offerings-lockup-agreements",
    "https://www.pwc.com/us/en/services/consulting/deals/library/cost-of-an-ipo.html",
    "https://www.sec.gov/rules-regulations/fee-rate-advisories/2027-1",
    "https://www.sec.gov/resources-small-businesses/small-business-compliance-guides/regulation-guidance-issuers",
    "https://www.sec.gov/Archives/edgar/data/0001035983/000089056699000251/0000890566-99-000251.txt",
    "https://www.dfinsolutions.com/knowledge-hub/blog/ipo-timeline-process"
  ],
  "license": "Facts may be quoted with attribution to Acquisitions.com and a link to the url above."
}