A more thorough explanation:

A registration statement is a document that companies must file with the Securities and Exchange Commission (SEC) before they can sell securities to the public. The purpose of the registration statement is to provide investors with detailed information about the company and the securities being offered.

For example, if a company wants to go public and sell shares of stock to the public, they must file a registration statement with the SEC. The registration statement will include a prospectus, which is a document that provides information about the company's financials and operations to potential investors.

If a company misleads investors by omitting or misrepresenting material facts in their registration statement, they can be liable for securities fraud. This means that they can be sued by investors who were harmed by the misleading information.

There are different types of registration statements, depending on the type of securities being offered. The most common type is the Form S-1, which is filed as part of an initial public offering (IPO). Other types include the Form S-3, which is filed for shelf registrations; the Form S-4, which is filed in connection with business combinations; and the Form S-8, which is filed in relation to employee stock compensation.