Secondary distribution that may not require an SEC registration statement and may be attempted without delay. An underwriting discount is normally included in these offerings.
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A secondary offering that is not registered with the SEC. A spot secondary must meet certain requirements in order to avoid registration. Specifically, they are usually offered to institutional investors rather than the general public. Generally speaking, a spot secondary is faster than other secondary offerings; issuers usually offer a discount for underwriting services on a spot secondary.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved