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your scrutiny comment is just not right. companies still have to go through the long sec review process, but have the benefit to submit draft s-1s confidentially. confidential submissions and all amendments just have to be publicly filed at least 21 days prior to the road show. say what you will about the groupon ipo (and probably others), but in today's media age with the speed and proliferation of opinions, i see no benefit to allow the talking heads to attack a company that's in its quiet period, and can't defend itself. any serious investor, whether retail or institutional, has more than enough time under these rules to make an educated decision to purchase an ipo. it's my opinion that people don't do their proper due diligence regardless of time available.
the bigger issue is with an open ipo window, and likely staffing issues at the sec, is a detailed enough review taking place?
4 weeks, 1 day ago on Will the Box IPO be John the Baptist to Dropbox’s Jesus?