Defined in Section 2(a)(10) of the Securities Act as any prospectus, notice, circular, advertisement, letter or communication, written or by radio or television, which offers any security for sale or confirms the sale of any security, subject to certain exceptions set out in Section 2(a)(10).

The prospectus also generally refers to the offering document used by the issuer and the underwriters to market a public offering registered with the SEC.

The preliminary prospectus is essentially Part I of the registration statement and may omit certain information relating to the offering (such as the final offering price). The preliminary prospectus is also known as the "red herring" because of the red ink used on the front page, which indicates that some information, including the price and size of the offering, is subject to change.

The final prospectus is an updated version of the preliminary prospectus, contains all final offering information (such as pricing and underwriting details) and reflects amendments to the registration statement subsequent to the date of the preliminary prospectus.

A "statutory prospectus" typically refers to a prospectus that meets the requirements of Section 10 of the Securities Act (such as the preliminary prospectus and the final prospectus).

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