How does a private company go public? What is the process and requirements? Is there a set amount of profit that a company has to make before going public?
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The company has to file documents with the SEC that lay out their financials (revenues, profits/losses, assets, etc.) and risk factors the business might face. They typically do a “road show” discussing the business with decision makers at various investment banks to get them to commit to placing shares with their clients. There are no profit requirements, and such — many tech companies go public before profits, often viewing the capital influx from an IPO as the way to grow to profitability.
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