Blood Letter
(IPO)


Summary

This template may be used to draft a blood letter, which is the common name for a letter that identifies the information in the registration statement and prospectus that was provided by the underwriters. The managing underwriter, on behalf of the several underwriters, typically delivers the blood letter to the company in an initial public offering (IPO). This template includes practical guidance, alternate clauses, and drafting notes. It is customary in the underwriting agreement for the underwriters to indemnify the company from liability for material misstatements and omissions made in reliance upon information provided on behalf of any underwriter. This information typically is identified and confirmed in a blood letter, although it sometimes may be identified in the underwriting agreement rather than through delivery of a blood letter. This template of blood letter may be used in connection with an IPO or other offering of securities. For a template of underwriting agreement that ...