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Quiet Filing
Sometimes a company has unresolved issues - choice of underwriter, number of shares to be offered, timing, or thinks it may have a lengthy SEC review. Such a company would make a quiet filing of its registration statement. The registration statement might lack an offering range, number of shares to be offered, or the total number of shares. The purpose of the quiet filing is to get the SEC review underway.

Quiet Period
After the IPO is priced, the underwriters face further restrictions on issuing research. This is called the quiet period. It lasts up to 40 days. However, under some circumstances the underwriters can issue a research recommendation more quickly. If the distribution is complete, meaning they have disbanded the syndicate and are not exercising the overallotment, the SEC allows a safe harbor for research.

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