A preliminary prospectus is a document that provides potential investors with key information about a company's upcoming securities offering. It serves as an initial outline of the terms and conditions of the offering, including the type and number of securities being offered, the expected price range, and the potential risks involved. This document is typically filed with the Securities and Exchange Commission and is subject to change before the final prospectus is released. As a professor of finance, I encourage you to carefully review this document before making any investment decisions.