Re: new shelf registration
Shelf registration is a method for publicly traded companies to register new stock offerings without having to issue them immediately. Instead, the securities can be issued at any time within a two-year period, allowing a company to adjust the timing of the sales to take advantage of more favorable market conditions should they arise.
Since they are not seen as outstanding, they are not included in calculations used to determine statistics like earnings per share. Even though they are not issued, investor awareness of the existence of the pending shares can affect current market sentiment and activity.
Why would a cash cow need to sell additional shares?