| name | prospectus-draft |
| title | SEC Prospectus Draft |
| description | Drafts SEC-compliant prospectuses for securities offerings, structuring company data, financials, risk factors, and offering terms into a regulatory disclosure document. Use when preparing prospectuses, S-1 registration statements, offering memoranda, or primary disclosure documents for public or private issuances. |
| author | CaseMark |
| author_url | https://github.com/CaseMark/skills/tree/main/skills/legal/prospectus-draft |
| license | Apache-2.0 |
| version | 0.1.0 |
| execution_mode | open |
| jurisdiction | us |
| practice | capital-markets |
| language | en |
SEC Prospectus Draft
Produces a securities offering prospectus satisfying SEC disclosure requirements. Balances factual disclosure with investor protection — never promotional tone.
Quick Start
Gather before drafting:
- Corporate docs — articles, bylaws, cap table
- Financials — audited GAAP statements, interim results, projections
- Offering terms — term sheet or preliminary parameters
- Management bios — officers/directors, compensation, ownership %
- Risk inventory — litigation, regulatory matters, operational vulnerabilities
- Business plan — revenue model, competitive landscape, IP portfolio
Prospectus Sections
Draft each section in order. Flag gaps with [INFORMATION NEEDED: description] and privilege-sensitive items with [LEGAL REVIEW].
1. Cover Page
Include: full legal issuer name, securities type/amount/price, prospectus date, SEC disclaimer legend ("Neither the SEC nor any state securities commission has approved..."), and risk warning. Add red herring language per Rule 430 if preliminary [VERIFY].
2. Executive Summary
Company value proposition, offering type, high-level use of proceeds. Substantiate every claim with later disclosures. No promotional language — Section 10(b) applies.
3. Risk Factors
Order: (1) offering-specific → (2) company-specific → (3) industry → (4) market/economic.
- Every risk must be company-tailored, not generic boilerplate
- Describe potential impact with specificity
- Cross-reference SEC comment letter trends for the industry
- Follow Regulation S-K Item 105 [VERIFY]
4. Use of Proceeds
Tabulate categories (working capital, capex, debt repayment, R&D, acquisitions, general corporate) with amounts, percentages, and timelines. Disclose material assumptions and whether management retains reallocation discretion.
5. Business Description
Cover: company history, revenue model/unit economics, products and target markets, customer concentration, distribution channels, competitive positioning, IP portfolio, regulatory compliance, supply chain dependencies, seasonal factors. Reference Regulation S-K Items 101-103 [VERIFY].
6. Management & Governance
For each officer/director: name, title, age, 5-year professional background, education, board committee roles, independence status. Also disclose: compensation arrangements, major shareholders (>5%), related-party transactions, family relationships.
7. Financial Information
