Ipo readiness program
Ipo Readiness Program
tasks: 26 constraints: 9 team: 17 timesteps: 30
Workflow Goal
Objective
Objective: Execute a structured IPO readiness program to prepare a mid-size growth company for listing on a U.S. exchange, ensuring financial, governance, disclosure, and operational requirements are met and evidenced for SEC review, underwriter diligence, and investor confidence.
Primary deliverables
- S-1 registration statement with complete narrative (Business, Risk Factors, MD&A, Executive Compensation, Legal Proceedings) and financials compliant with Regulation S-X (audited, age-appropriate periods).
- PCAOB-audited financial statements with reconciliations, non-GAAP disclosure controls, and comfort letter readiness for underwriters.
- Corporate governance package: independent directors, audit/comp committees, charters, board minutes, and Rule 10A-3 compliance mapped to NYSE/Nasdaq standards.
- Internal controls documentation: disclosure controls & procedures (SOX 302) and ICFR roadmap; 404(b) readiness if applicable; management certification process rehearsed.
- Risk management and disclosure register: comprehensive inventory of operational, financial, legal, and cyber risks with consistent mapping to S-1 risk factors.
- Legal and compliance artifacts: Staff Legal Bulletin No. 19-compliant legal/tax opinions, comfort letter request lists, and EDGAR submission workflows tested.
- Marketing and communications plan: counsel-approved quiet-period strategy, test-the-waters (if EGC), IR playbook with Reg FD safeguards, and post-pricing disclosure controls.
- Listing requirements checklist with market value/shareholder distribution tests, exchange approval correspondence, and evidence of auditor PCAOB registration.
Acceptance criteria (high-level)
- S-1 accepted for review by SEC with ≤2 major comment letter cycles; all Reg S-K and Reg S-X disclosures evidenced and traceable to supporting workpapers.
- Independent board committees in place and certified as meeting NYSE/Nasdaq standards; committee minutes and charters filed.
- Audit sign-offs completed; comfort letters available; management SOX 302 certifications rehearsed.
- Legal and tax opinions filed; EDGAR test submissions validated without error codes.
- Comms plan operational with documented legal pre-clearance; no material "gun-jumping" incidents.
- Constraints (soft):
- Target horizon: complete readiness within ≤ 8 weeks of simulated effort; no >5-day stalls on critical path (financial statements, governance formation, S-1 drafting).
- Budget guardrail: stay within ±20% of planned legal/audit/consulting costs absent justified scope changes.
- Transparency: prefer candid disclosure of known material weaknesses or risks, paired with remediation plans, over concealment to maximize SEC and investor confidence.
Team Structure
| Agent ID | Type | Name / Role | Capabilities |
|---|---|---|---|
| financial_controller | ai | Coordinates PCAOB audit requests Owns financial statements and tie‑outs Manages non‑GAAP reconciliation Tracks disclosure consistency |
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| securities_lawyer | ai | Drafts/edits S‑1 and exhibits Guides disclosure and quiet period Coordinates SEC comments/responses Maintains rule compliance mapping |
|
| governance_specialist | ai | Designs board/committee structures Implements independence standards Aligns with NYSE/Nasdaq rules Prepares governance disclosures |
|
| sox_compliance_manager | ai | Implements SOX controls and testing Builds disclosure controls & procedures Tracks deficiencies and remediation Prepares certification packages |
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| audit_coordinator | ai | Manages audit PBCs and schedules Coordinates comfort letter process Ensures opinion quality and readiness Resolves auditor information gaps |
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| edgar_specialist | ai | Prepares/validates EDGAR submissions Coordinates filing timing and checks Maintains submission audit trail Resolves XBRL/formatting issues |
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| disclosure_analyst | ai | Drafts MD&A and risk factors Runs materiality assessments Aligns KPIs across disclosures Maintains issue/decision logs |
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| investor_relations_lead | ai | Designs IR strategy and quiet‑period ops Preps roadshow and messaging controls Tracks Reg FD compliance Coordinates comms sign‑offs |
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| external_auditor_lead | human_mock | External Auditor Lead (PCAOB Audit Partner) | Plans and executes PCAOB audits Issues comfort letters and opinions Reviews controls and adjustments Coordinates with audit committee |
| sec_legal_counsel | human_mock | SEC Legal Counsel (Securities Law Expert) | Advises on SEC rules and process Coordinates comment letter responses Reviews disclosures and exhibits Manages regulator communications |
| lead_independent_director | human_mock | Lead Independent Director (Board Governance) | Oversees governance structure build‑out Chairs independence/committee checks Coordinates board policy approvals Interfaces with audit committee |
| audit_committee_chair | human_mock | Audit Committee Chair (Financial Expert) | Oversees SOX readiness Reviews auditor independence Approves remediation plans Grants audit sign‑off |
| underwriter_legal_counsel | human_mock | Underwriter Counsel (Underwriter Legal) | Leads due‑diligence and Q&A Coordinates with auditors on comforts Reviews offering documents Advises on marketing restrictions |
| exchange_listing_specialist | human_mock | Exchange Listing Specialist (Exchange Relations) | Runs listing standards checklist Coordinates with exchange reviewers Tracks documentation and timelines Flags gaps for remediation |
| internal_audit_director | human_mock | Internal Audit Director (Internal Audit) | Performs control testing and QA Reviews documentation sufficiency Issues findings and follow‑ups Advises on process improvements |
| chief_financial_officer | human_mock | Chief Financial Officer (Executive Leadership) | Owns certification readiness Aligns finance, audit, and governance Approves offering economics Chairs financial sign‑off gates |
| company_ceo | stakeholder | Company CEO (Executive Stakeholder) | Sets timing and readiness standards Arbitrates scope vs schedule vs risk Approves external messaging posture Holds teams accountable to gates |
Join/Leave Schedule
| Timestep | Agents / Notes |
|---|---|
| 0 | financial_controller — Financial audit foundation securities_lawyer — S-1 registration preparation governance_specialist — Board structure establishment audit_coordinator — PCAOB audit coordination |
| 8 | sox_compliance_manager — SOX compliance implementation disclosure_analyst — Risk factor and MD&A preparation |
| 15 | edgar_specialist — EDGAR filing preparation external_auditor_lead — External audit execution |
| 20 | sec_legal_counsel — SEC legal review lead_independent_director — Board governance oversight |
| 25 | audit_committee_chair — Audit committee approval investor_relations_lead — Communications strategy |
| 28 | underwriter_legal_counsel — Due diligence coordination exchange_listing_specialist — Listing standards verification |
| 30 | internal_audit_director — Internal controls validation chief_financial_officer — Executive certification |
Workflow Diagram
Preferences & Rubrics
Defined: Yes.
Sources
- Workflow:
/Users/charliemasters/Desktop/deepflow/manager_agent_gym/examples/end_to_end_examples/ipo_readiness_program/workflow.py - Team:
/Users/charliemasters/Desktop/deepflow/manager_agent_gym/examples/end_to_end_examples/ipo_readiness_program/team.py - Preferences:
/Users/charliemasters/Desktop/deepflow/manager_agent_gym/examples/end_to_end_examples/ipo_readiness_program/preferences.py