Regarding primary and secondary offerings, which of the following are TRUE Quizlet

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Regarding a shelf registration filed with the Securities and Exchange Commission (SEC), which of the following statements are true?
I: A supplemental prospectus must be filed before each sale.

II: This registration is for issuers who want to issue securities for the first time.

III: Portions of a shelf offering can be sold over a 10-year period without having to reregister the security.

IV: Portions of a shelf offering can be sold over a three-year period without having to reregister the security.

A) II and III
B) I and III
C) II and IV
D) I and IV

Shelf offerings are for issuers who already have publicly traded securities in the marketplace. This type of offering registration allows the issuers to register additional shares to be offered and then issue the securities when the need for raising capital arises—taking the securities off the shelf and selling them when needed. While portions of the issue can be sold over a three-year period, a supplemental prospectus must be filed with the SEC before each sale.

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