1. Preparation: The company works with legal and financial advisors to prepare the S-1 document. 2. Filing: The S-1 is submitted to the SEC for review. 3. Review: The SEC reviews the filing and may request additional information or clarifications. 4. Amendments: The company may need to amend the S-1 based on SEC feedback. 5. Approval: Once the SEC is satisfied, the S-1 is declared effective, and the company can proceed with its IPO.