1. A prospectus is a legal document required by the security exchange commission which provides the details of an investment offered to the public for sale. It is the first document offered by the issuer of securities and it gives details about the business and the organization at large and other security information like the amount of shares supposed to offered publicly for purchase, certificate issues, and the offering price.
3. a. 27,000,000 class A common shares will be immediately available for sale in public markets and proceeds are expected to be received immediately the sale is made beginning the date of the prospectus. The remaining shares from the total will be eligible for sale to public markets after 181 days since the offer was made in the prospectus date. This is based on some instances such as volume and restrictions of rule 144, insider trading policy and market standoff agreements.
b. At the IPO, there were 27,000,000 shares of class A to be sold. This involves a combination of 25,650,000 shares by Square and another 1,350,000 shares issued by the selling stockholder. Class B common stock to be offered was 300,944,711. This makes the total shares to be offered at the IPO to be 327,944,711.
c. The lead underwriters were J.P Morgan Securities LLC. They own approximately 10% convertible preference stocks, which will act as class B common stock as per this offer. Morgan Stanl…
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