A prospectus is a legal document that institutions and businesses use to describe what they have to offer for participants and buyers.
The documents go into detail about a business; they give history of the company, lists of officers who operate such a business, any litigation that is taking place, financial data, and a list of operations. These documents, when used by businesses, are usually given out for potential investors as part of the Initial Public Offering. Although usually very detailed, the public prospectus' are usually very condensed compared to the registration statements filed with the Securities and Exchange Commission.
A school prospectus sent to potential (prospective) students to attract them to apply for admissions. A school or University prospectus often contains information about the school and the available courses, including advice on how to apply and the benefits of accepting a place. Many Universities have individual prospectuses for each course or group of courses that they offer.
A prospectus is preceded by a preliminary disclosure known as a Red Herring.
A prospectus supplement is an additional statement filed with the SEC containing information about the issuer not mentioned previously; supplements are normally issued in conjunction with Shelf Registration securities and contain further information on the particular issue being sold.
A prospectus is a document or a publication by, or on behalf of, a corporation containing information on the character, nature, and purpose of an issue of shares, debentures, or other corporate securities that extends an invitation to the public to purchase the securities.
A prospectus commonly provides investors with material information about mutual funds, stocks, bonds and other investments, such as a description of the company's business, financial statements, biographies of officers and directors, detailed information about their compensation, any litigation that is taking place, a list of material properties and any other material information.
There are numerous exceptions to the requirement to publish a prospectus, although an exempt company may still be required to publish listing particulars where it is seeking admission of its shares to the full list or an admission document where it is seeking admission of its shares to AIM.
The prospectus must be approved by the competent authority in the United Kingdom, which is currently the Financial Services Authority in its capacity as the United Kingdom Listing Authority.
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