The transition a company makes from a privately held entity to a publicly traded one is intensely fierce. With only one chance to do it right, there is a lot riding on a company’s trajectory when going public.
Well before and throughout the IPO process, the public relations team plays an integral role in building the market buzz that is essential to IPO success. With strategic planning and execution, a company will find itself prepared for the rigors encountered when operating in a regulated environment.
Publicly traded companies must adhere to strict SEC guidelines in several areas. Understanding what – and what not – to communicate can sometimes seem daunting. It’s vitally important to understand that all company spokespeople are subject to SEC regulations. Before any executives speak with media, it’s important for them to understand a few mission-critical do’s and don’ts.
Two high profile companies – Slack and Uber – are well-known examples of how not to handle PR during an IPO. Both companies had to amend their SEC filings due to unsanctioned board member interviews on CNBC that included commentary that was either not company authorized or inconsistent with its filings.
Careful advanced planning and experienced execution can help companies achieve maximum brand exposure without stepping out of line. Below are some guidelines for how SEC regulations apply to media interviews and posting to social media.
DO:
DON’T:
When in doubt, consult your legal team for guidance on how to proceed or what information to share. Like most things, SEC regulations may be subject to change so it’s also important to keep a close eye on developments and adjust your communications strategies accordingly. By making sure your communications team and executives are well versed on SEC communications requirements, you can ensure your spokespeople will remain on message.
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