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Share offerings, reverse splits and halts

What 424B5, S-3 and 'at-the-market' filings mean for the share count

Shelf registration (S-3, F-3)

A shelf registration lets a company offer securities later, in pieces, without a new full registration each time. Filing one says the option exists; it doesn't mean any shares have been issued.

Prospectus supplement (424B5)

A 424B5 describes a specific offering under a shelf: for example 15,000,000 new shares, or an at-the-market program of up to $500 million in new shares issued over time through a broker at market prices.

Dilution

New shares split the same company into more pieces. If a company with 100 million shares issues 20 million more, each existing share is a smaller slice (1/120 million instead of 1/100 million), though the cash raised also goes to the company.

Reverse splits and halts

A 1-for-10 reverse split turns every 10 shares into 1 at ten times the price; the total value is unchanged at that moment. A trading halt pauses trading in a stock, for example while news is pending or after a sharp move.

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Independent research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

Beta 0.9 · Oct 21, 2026