What is an 'Indication of Interest - IOI'
An indication of interest (IOI) is an underwriting expression showing a conditional, non-binding interest in buying a security that is currently in registration (awaiting effectiveness by the SEC). The investor's broker is required to provide the investor with a preliminary prospectus.
BREAKING DOWN 'Indication of Interest - IOI'
The IOI is non-binding because it is illegal to sell a security while still in the registration process.