Series 24: 4.1.6.1. Preliminary Prospectus (Red Herring)

4.1.6.1. Preliminary Prospectus (Red Herring)

The preliminary prospectus is the prospectus that is filed with the SEC for review, and the issuer must file five copies of it prior to first use. It contains almost all the same information as the final prospectus; however, it does not contain the public offering price, which is typically set the night before the offering. It includes only an estimated price range. The detailed information that is included on the final prospectus is identical to that included in Part I of the registration statement, which is described in the previous section.

The preliminary prospectus is also used during the cooling-off period (registration period) to attract potential investors. The issuer and underwriters w