Avita Medical Ltd (RCEL)

[melody432]

It's a new shelf offering to replace the identical shelf offering put in place in 2nd Q 2020 which expires shortly. Shelf offerings have to be replaced every 3 years by SEC rule. They are there to provide shares in the event they do decide to do an equity offering which requires a proxy filing at that time. They can also be used to issue shares for employee and officer share based compensation plans. Virtually every public company has shelf shares. They don't add any capital to company coffers in and of themselves. Once again, the last equity raise was in early 2020, none since. Shelf shares merely give them the ability to do an equity raise when and if they choose.
Not sure why people find this to be such a difficult concept but many do, it's not just you.
Suggest googling " shelf offering ".