I purchased EXEL in the IPO and received the prospectus from one of the participating underwriters. It seemed as though the glossy cover was the only difference between that document and the one I had already examined at the SEC's EDGAR site.
I can see hotstock13's reason for posting. If you look at other Yahoo posts by hotstock13 and also compare his moniker to the name used by the eBay seller, it seems pretty clear that he is the seller of such things on eBay!
Anyway, why would someone waste money by bidding for a prospectus that is available for free? If I had excess money to buy things like that, I hope I would be smart enough to buy more EXEL insead!
of the few who could buy it on the IPO. Since it was offered only by investment bankers who deal with primarily instutitional accounts or high net worth individuals, the typical individual investor does not have access to these documents.
Some consider them collector's items. You obviously don't, so it does not matter to you. When Martha Stewart went public last year, its first IPO on eBay sold for $76. Try to find one for Microsoft.
If you check the auction, you'll see the prospectus has graphics that the text-only version at the SEC does not provide. Sometimes a picture is worth a thousand words to help individuals determine the value of a company.
Rule 144A prospectuses also become available on eBay. Those are excluded from filing with the SEC and are distributed to institutional accounts that manage more than $100 million.