Due to the government shutdown and the furlough of 90% of SEC staff, companies can now proceed with IPOs using an automatic approval process. This allows firms to skip pricing information entirely.
Normally, companies prefer SEC reviewers to examine their disclosures before going public, but the SEC will not penalize companies for omitting pricing or price-dependent information during the shutdown.
This means that vetting will occur after retail investors have already bought shares. Companies remain legally liable for their disclosures, and the SEC can demand amendments later.