803:
793:
46:
A secondary offering is not dilutive to existing shareholders since no new shares are created. The proceeds from the sale of the securities do not benefit the issuing company in any way. The offered shares are privately held by shareholders of the issuing company, who may be directors or other
42:
of a large block of a security that has been previously issued to the public. The blocks being offered may have been held by large investors or institutions, and proceeds of the sale go to those holders, not the issuing company. It is also called a secondary distribution.
58:, otherwise known as a subsequent offering, or a dilutive secondary offering. In a follow-on offering, the company itself places new shares onto the market, thus diluting the existing shares. "Secondary market offering" can be understood as an offering on the
51:) who may be looking to diversify their holdings. Usually, however, the increase in available shares allows more institutions to take non-trivial positions in the issuing company which may benefit the trading liquidity of the issuing company's shares.
74:, which is where the confusion between a dilutive (follow-on) and a non-dilutive secondary market offering possibly comes from. If a company were to make a third, primary-market offering, this would be a follow-on offering which is not a
207:
66:— in other words, an offering following an initial, primary-market offering. A follow-on offering which is the second offering from a company can be understood as a secondary
78:
offering. "Secondary offering" as described in this article is an offering on the secondary market which is non-dilutive, and is thus not a follow-on offering.
200:
193:
17:
140:
35:
674:
587:
733:
527:
251:
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778:
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112:
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87:
39:
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63:
821:
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271:
27:
Registered offering of a security that was previously issued to the public
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728:
532:
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A secondary market offering should not be confused with a
62:, and is thus different from a secondary offering on the
137:"FINRA glossary definition of secondary offering"
819:
201:
802:
792:
208:
194:
141:Financial Industry Regulatory Authority
36:Financial Industry Regulatory Authority
14:
820:
189:
163:"Follow-On Offering (FPO) Definition"
24:
25:
839:
177:"Learn About Secondary Offerings"
801:
791:
588:Debtor-in-possession financing
169:
155:
129:
13:
1:
528:Staggered board of directors
7:
645:Accretion/dilution analysis
81:
10:
844:
608:Leveraged recapitalization
787:
779:Valuation using multiples
764:Sum-of-the-parts analysis
734:Modigliani–Miller theorem
635:
593:Dividend recapitalization
573:
421:
408:Secondary market offering
311:
300:
227:
38:(FINRA), is a registered
32:secondary market offering
18:Secondary equity offering
797:List of investment banks
712:Free cash flow to equity
538:Super-majority amendment
463:Management due diligence
403:Seasoned equity offering
123:
113:Seasoned equity offering
34:, according to the U.S.
508:Shareholder rights plan
498:Post-merger integration
468:Managerial entrenchment
438:Contingent value rights
378:Initial public offering
650:Adjusted present value
513:Special-purpose entity
351:Direct public offering
321:At-the-market offering
118:At-the-market offering
665:Conglomerate discount
687:Economic value added
682:Discounted cash flow
272:Senior secured debt
49:venture capitalists
807:Outline of finance
719:Market value added
702:Financial modeling
660:Business valuation
583:Debt restructuring
361:Follow-on offering
346:Corporate spin-off
304:(terms/conditions)
221:investment banking
98:Follow-on offering
56:follow-on offering
47:insiders (such as
815:
814:
739:Net present value
724:Minority interest
655:Associate company
631:
630:
598:Financial sponsor
518:Special situation
488:Pre-emption right
478:Minority discount
388:Private placement
287:Subordinated debt
242:Exchangeable debt
229:Capital structure
217:Corporate finance
93:Corporate finance
16:(Redirected from
835:
805:
804:
795:
794:
697:Fairness opinion
692:Enterprise value
675:Weighted average
603:Leveraged buyout
458:Drag-along right
356:Equity carve-out
313:Equity offerings
309:
308:
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277:Shareholder loan
262:Second lien debt
257:Preferred equity
237:Convertible debt
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108:Secondary market
76:secondary market
60:secondary market
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759:Stock valuation
754:Residual income
670:Cost of capital
627:
623:Project finance
613:High-yield debt
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548:Tag-along right
473:Mandatory offer
443:Control premium
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393:Public offering
341:Bought out deal
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88:Public offering
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774:Terminal value
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707:Free cash flow
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618:Private equity
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247:Mezzanine debt
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103:Primary market
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64:primary market
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326:Book building
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147:September 24,
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70:on a primary
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37:
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19:
828:Stock market
749:Real options
565:Tender offer
425:acquisitions
413:Underwriting
407:
398:Rights issue
301:Transactions
171:
157:
145:. Retrieved
131:
75:
71:
67:
53:
45:
31:
29:
523:Squeeze-out
493:Proxy fight
423:Mergers and
336:Bought deal
267:Senior debt
769:Tax shield
729:Mismarking
533:Stock swap
483:Pitch book
453:Divestment
331:Bookrunner
252:Pari passu
744:Pure play
637:Valuation
503:Sell side
366:Greenshoe
822:Category
575:Leverage
553:Takeover
448:Demerger
433:Buy side
82:See also
68:offering
40:offering
558:Reverse
543:Synergy
383:Pre-IPO
371:Reverse
292:Warrant
143:. 2010
72:market
282:Stock
124:Notes
219:and
149:2010
824::
139:.
30:A
209:e
202:t
195:v
179:.
165:.
151:.
20:)
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