Top 10 Practice Tips: Shelf Registration Statements and Takedowns


Summary

A shelf registration statement allows an issuer to conduct one or more public offerings on a delayed or continuous basis. Once an issuer has an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (SEC), it can offer securities included in the registration statement by filing a prospectus supplement with the SEC containing the specific terms of the offering. This is referred to as taking the securities down “off the shelf” or a “takedown.”