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Prospectus

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When planning an issuance project, good preparation is essential. An idea alone is not enough to guarantee that the venture is successful. To ensure that the issuance goes smoothly, it is necessary to prepare documents such as the prospectus, which is then submitted to the Financial Supervision Authority. The prospectus is a required document for IPO (Initial Public Offering) or STO (Security Token Offering) projects. In the case of ICO (Initial Coin Offering) projects, the so-called Whitepaper is the equivalent of the prospectus. A well drafted prospectus can determine the success of the entire project and how it does on the stock exchange, which is why it is important to entrust its creation to specialists. The specialists at Thompson&Stein will assist you in the preparation of the prospectus for your project and, applying their knowledge and international experience in conducting such projects, will provide you with comprehensive services related to the issuance.

What is a prospectus?

A prospectus is a document that every issuer of securities must prepare before entering the stock exchange and submit it to the Financial Supervision Authority or, if the issuance is conducted abroad, to its counterpart (in Estonia, for example, this will be the FIU). The prospectus must include information such as the company’s history, management, financial results, risk factors and expected growth potential. The prospectus is valid for 12 months after its approval by the FSA, and its approved version enables issuers to seek funds in all EU markets (under the so-called European Passport).

Why is the prospectus prepared?

The prospectus is prepared:

To inform potential investors about the products offered by the company

To gauge interest in the offered products

To sell securities

Regulations applicable
to the prospectus

The prospectus is subject to specific legal regulations. Information on what particulars the prospectus should contain is specified in the Commission Regulation (EC) No 809/2004 of 29 April 2004 implementing Directive 2003/71/EC of the European Parliament and of the Council. The form of the prospectus may be of two types – preliminary and final. The prospectus may be a single document or a set of documents, such as: the registration document, the offering document and the summary document. The more common form of prospectus chosen by companies is the preliminary prospectus, which is supplemented by information such as the number and price of securities issued after it has been made public.

Why is it worth to use the Thompson&Stein services
for the drafting of a prospectus?

The specialists at Thompson&Stein have experience gained from supporting over 40 international issuance projects. We provide services to cryptocurrency companies conducting crowdfunding based on ICO, STO, IEO projects.

Thompson&Stein provides “one step shop” services for companies seeking to raise capital through tokenisation of assets. We provide comprehensive support at every stage of the project:

choice of jurisdiction

registration of the entity in accordance with local requirements

preparation of legal aspects for the prospectus

financial flow plan of the project, in terms of tax and accounting

issuance settlement

accounting for companies

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