The U.S. Securities and Exchange Commission (SEC) has issued temporary guidance for companies planning initial public offerings (IPOs) during the ongoing government shutdown. Issuers can now submit registration documents without specifying an offering price, with these documents automatically taking effect after 20 days. This measure allows companies to proceed despite the furlough of approximately 90% of SEC staff, which has stalled IPO reviews. Companies such as Navan, Andersen Group, and cryptocurrency custodian Bitgo, which have already filed for IPOs, can leverage this guidance to continue their marketing efforts. The SEC's temporary process does not preclude the possibility of subsequent questions or revisions to the filings.