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�鶹ֱ�� & Lardner LLP partner Louis Lehot shared guidance for companies navigating an initial public offering amid federal government uncertainty in The National Law Journal article, “.”

“For a company choosing to go public, timing is key,” Lehot writes. “There is a significant amount of planning and waiting for the right moment when there are favorable market conditions, investor sentiment, and industry-specific cycles. Any kind of a government shutdown could result in delays at the SEC, which could cause companies to miss a critical market window.”

The article details key takeaways for affected companies, including:

• IPOs could be frozen if the SEC shuts down: A government shutdown could halt the SEC’s review of registration statements, effectively freezing IPO activity. Companies close to launching may be forced to delay pricing and closing, even if they’ve completed most of the process.

• Delays can lead to higher costs and riskier market conditions: Extended timelines mean increased costs, from legal fees to updated financials. More critically, companies risk missing favorable market windows, which could impact valuation and investor interest.

• Proactive planning is essential: Companies should accelerate filings while the government is still operational and prepare contingency plans. Staying flexible, maintaining transparent communication, and working closely with legal and financial advisors can help mitigate disruption.

“Proactive preparation can mean the difference between an IPO that is delayed versus derailed,” Lehot concludes. “This is the time to look at contingency plans and work closely with legal counsel and financial advisers to ensure everything is ready to go once the SEC is back in business.”

Lehot’s article was also cited in .

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