Series 24: Shelf Offering (Shelf Registration)

Taken from our Series 24 Online Guide

Shelf Offering (Shelf Registration)

In most public offerings, an issuer will register and issue a specified number of securities, and will attempt to sell all the securities in one day. If an issuer has issued securities previously, and is large enough to be able to register its securities on an S-3 form, the company may file what is called a shelf registration (shelf offering). A shelf registration is when an issuer files one registration statement for a large number of securities and does not sell them immediately. Instead, the issuer puts the securities “on a shelf” and brings them down to sell when the market is favorable.

A shelf registration is good for up to three years, meaning that the securities can be pulled off the shelf for up to three years before having to file a new registration statement.

If a shelf registration filer is a well-known season

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