A registration statement is a legal document that companies must file with the Securities and Exchange Commission (SEC) before they can offer securities, such as stocks or bonds, to the public. This document provides essential information about the company, including its business operations, financial condition, and the risks associated with investing in its securities. The registration statement typically includes a prospectus, which is a summary of the investment opportunity for potential investors. It helps ensure transparency and allows investors to make informed decisions. By requiring these statements, the SEC aims to protect investors and maintain fair and efficient markets.