We already have an emerging growth company IPO! According to the Seattle Times
An early-stage Seattle company that went public Wednesday with a $12 million stock offering appears to be one of the first, if not the first, in the nation to make use of the new JOBS Act.
ClearSign Combustion, which is developing technologies to make boilers, furnaces, turbines and other combustion systems more efficient, said it would take advantage of a provision in the new law that allows it to delay adopting new or revised accounting standards.
In its final prospectus, ClearSign also said it might take advantage of other exemptions the law creates for "emerging growth companies," including disclosing less information about executive pay, not letting shareholders vote on pay arrangements and not having outside auditors attest to the effectiveness of its internal controls.
Interestingly, it appears that ClearSign was set for a traditional IPO in November of this year, looking for $18 million. But it accelerated onto that on-ramp, and went public yesterday, ending up 5%. I can't find the quoted language in the most recent S-1 up on Edgar, but I'm looking into that. Update: It's here.
Right now this is their website. I include a screenshot (my first ever) because I presume it will change:
Perhaps a tad uninformative? Welcome to the brave new world of IPOs!
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