Rivulet Media Inc (fka RIVU)

[mindonmymoney23]

Process summary
The process starts by filing form S-1 with the SEC. The SEC reviews the filing and sends back very detailed comments. The company then files an amendment reflecting these comments. The SEC likely has comments again. This process repeats for 2-3 and sometimes many more iterations until the SEC says it has no further comments. The company then files/prints a "red herring" or Preliminary Prospectus and begins the roadshow. This usually lasts 2 weeks and the offering is priced on the last night of the roadshow and begins trading the next day.

Sample timeline
First SEC review: 30 days
Company prepares response: 5 days
Second SEC review: 15 days
Company response: 3 days
Third SEC review: 7 days
Company response ("red herring"): 2 days
Roadshow: 15 days
Trading begins: 1 day
Total: ~10-12 weeks

This timeline ignores all the prep time that goes into drafting the initial filing (often several weeks). It also shows a close to ideal case. There are many factors that can slow down the process including:
Substantial SEC comments (need for change in accounting policy, etc.)
Lawsuits (often lawsuits come out of the woodwork as plantiffs use the IPO process as leverage to seek a settlement)
Timing of quarter end and the need to update the financials from previous versions of the filing
Unfavorable market conditions
Public holidays (hard to do an IPO where the roadshow crosses a public holiday)
Compliance mistakes (e.g., the Playboy interview that slowed down Google's IPO)