SAN FRANCISCO: After years on the drawing board, Business Wire (BW)
has released what it describes as a tool to allow publicly traded
companies to convert and format paperwork for SEC filings. The company
claims to be the first commercial news service to offer such a product,
which it calls EDGARit.
To use EDGARit for an 8-K SEC disclosure filing, companies submit their
BW-formatted news release, and pay a flat fee of $175 plus the
circuit price. For an EDGAR filing in ASCII format, the company will pay
a $150 fee, plus $11 per page of text and/or $20
per page of tables. Both options have a turnaround of six hours, and
companies can elect to receive a proof before BW files the
BW operations manager Chris Marchioli has trained a core group of NYC
editors to convert 10-Ks, 10-Qs, and 8-Ks.
Michael Becker, BW global financial and business development specialist,
said more editors will be trained if the new service catches on.