Seasoned issuers may make automatic shelf registration offerings which are effective immediately on filing a registration statement with the SEC.

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Seasoned issuers, defined as issuers who have issued securities for at least three years and meet certain other requirements, are allowed to file automatic shelf registration statements with the SEC. These registration statements become effective immediately upon filing, allowing the issuer to offer and sell securities off the shelf without waiting for SEC review and approval.

Seasoned Issuers May Make Automatic Shelf Registration Offerings Which Are