shelf registration

shelf registration
shelf registration n: a provision of Securities and Exchange Commission regulations governing public offerings that allows corporations to defer sale of some shares after registration until market conditions are more favorable

Merriam-Webster’s Dictionary of Law. . 1996.

shelf registration
A system where potential issuers of securities are able to draft, and obtain regulatory approvals for, much of the necessary documents for an issue as part of their annual housekeeping regime. The purpose is to enable issuers to access the capital markets more quickly by obtaining prospectus approval in advance while retaining flexibility as to the precise terms of the securities to be issued.
USA
An arrangement with the SEC that allows a single registration statement on Form S-3 (for US domestic issuers) or Form F-3(for foreign private issuers) to be filed that permits the issuance of multiple securities. The issuer must meet the eligibility criteria for using the Form S-3 or Form F-3, as applicable. Shelf registration serves as a registration of a new issue and can be prepared up to three years in advance to fulfill all registration-related procedures beforehand, so that the issue can be offered quickly when funds are needed or when market conditions are more favorable.
See Practice Note, Shelf Registrations: Overview (www.practicallaw.com/5-381-0962).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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