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Recently, the company Fastly Inc (NYSE: FSLY) reported preliminary results for their 3rd quarter.

On their official website, they made the following statement

SAN FRANCISCO--(BUSINESS WIRE)-- Fastly, Inc. (NYSE: FSLY), in fulfillment of its obligations to promptly file a resale registration statement on Form S-3 in connection with its successful acquisition of Signal Sciences on October 1, today announced preliminary revenue results for the third quarter ended September 30, 2020.

I was a bit surprised because I was not aware of any regulation that required them to do this. Is it typical for companies to announce their financials after a merger/acquisition? Or did their financial team just decide to do this for the hell of it?

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Is it typical for companies to announce their financials after a merger/acquisition?

Yes, unless the other company is insignificant. Shareholders - the owners - must be informed and if I merge or acquire another company my financials change SIGNIFICANTLY. This may not be the case if MS buys a smaller game studio i.e., but if you buy something that does a large change to your balance sheet, your fiduciary duties definitely include updating the information asap.

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  • Can you include a citation to the SEC regulation that specifies this? – AlanSTACK Oct 16 '20 at 7:29
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    Nope. Not a lawyer. Not my job to use google for you. – TomTom Oct 16 '20 at 7:31
  • Although I appreciate your answer, you literally provided no evidence other than your word. I believe everyone who views this post in the future would also benefit greatly if you at least included some semblance of a justification - do you personally have a lot of experience in the corporate financial world that has lead you to this conclusion? Or is this something you just "think" is a "fiduciary duty" (as opposed to know for sure)? – AlanSTACK Oct 16 '20 at 7:37
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    Nope, sorry, just working as a broker 30 years ago and active in the markets ever since. Keep your owners informed is a basic principle. – TomTom Oct 16 '20 at 7:43

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