Deloitte
Accounting Research Tool
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Chapter 4 — Initial Public Offerings

4.6 Dilution Disclosure

4.6 Dilution Disclosure

Examples of SEC Comments
  • We note you [disclose] that the net tangible book value per share before the offering is $[X]. Please refer to Item 506 of Regulation S-K and revise to disclose the net tangible book value per share before the distribution. Please also revise to update your dilution disclosure as of [period-end].
  • Please revise to clarify, if true, that your as adjusted net tangible book value . . . gives effect to other transactions in connection with the Offering, not just the sale of common stock.