A glossary to help understand what happens in an initial public offering

Anyone following Anthropic's plans to sell shares to the public is likely to hear terms thrown around that describe steps and components of an initial public offering. Here's a quick guide.Initial public offering, or IPOA company's first offering of stock to the public. It is the first time a company's value will be determined by a public market.ProspectusA formal offer to sell shares in the company. It also includes a business plan with details about the company's finances and operations. Also known as an S-1, after the Securities and Exchange Commission form.ListingThis describes the ticker symbol for the stock and the public exchange where it is being traded. For example, Apple is traded as “AAPL” on the Nasdaq and Macy's is traded as “M” on the New York Stock Exchange. Anthropic plans to list on the Nasdaq under the symbol “ANT.”UnderwriterAn underwriter is a bank or other financial institution that acts as the intermediary between the company and investors. They purchase the stock