The U.S. Securities and Exchange Commission (SEC) has provided temporary guidance to companies seeking to launch initial public offerings (IPOs) during the ongoing government shutdown. The guidance permits issuers to submit registration documents without specifying exact offering prices, with these documents automatically becoming effective after a 20-day period. However, companies may still be required to address inquiries or make revisions at later stages. The shutdown has led to approximately 90% of SEC staff being furloughed, resulting in a halt on IPO reviews. Companies such as Navan, Andersen Group, and cryptocurrency custody firm Bitgo, which have already filed for IPOs, can continue with their marketing efforts under this new guidance.