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Dorothee Fischer-Appelt

Dorothee Fischer-Appelt is a New York and English-qualified shareholder with more than 25 years' experience in international capital markets and M&A transactions. She represents companies, financial institutions and selling shareholders in connection with international equity and debt capital markets transactions, including IPOs, secondary equity offerings, structured equity offerings, convertibles, warrants, block trades, high yield offerings, Rule 144A debt offerings, covered bonds, exchange offers and consent solicitations.

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On March 3, 2025, the SEC’s Division of Corporation Finance issued new guidance expanding the availability of confidential review of draft registration statements (DRS). Originally, DRS was for foreign private issuers and later extended to emerging growth companies (EGCs) under the JOBS Act in 2012. In 2017, the SEC allowed all companies to use DRS for IPOs and initial listings. The 2025 guidance removes the “initial filing” limitation, allowing both private and public companies to submit DRS for confidential review.
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