Once a company files its registration statement (or S-1) with the SEC, it becomes part of the pipeline of IPOs expected to be priced over the next few months. In addition to the public IPO pipeline, the confidential filing process has created a shadow pipeline. Confidential filers privately get feedback from the SEC before entering the public IPO pipeline with an S-1. Then, as soon as 15 days later, they set a proposed price range and share count in a red herring and begin the roadshow. Roughly 1-2 weeks later, after the deal has priced, it is removed from the pipeline. IPOs can also leave the pipeline by filing a withdrawal (form RW) or by being acquired.