Cel Sci Corporation (CVM)

[fung_derf]

In a secondary offering, there's generally no mandatory holding period for the stock. Investors can usually sell their shares freely after the offering, unless there are specific lock-up agreements in place.
Here's a more detailed explanation:
What is a Secondary Offering?
A secondary offering (also known as a follow-on offering) occurs when existing shareholders, rather than the company itself, sell a portion of their shares to the public.
No Mandatory Holding Period:
Unlike an IPO (Initial Public Offering) where there might be lock-up periods for insiders, secondary offerings typically do not impose any restrictions on when investors can sell their shares.
Lock-up Periods:
However, it's important to note that some secondary offerings may have lock-up periods, similar to those seen in IPOs, during which certain investors (like company insiders) are restricted from selling their shares for a specified period.
Timing of Secondary Offerings:
Secondary offerings can be announced and marketed within a few days, which is faster than the process for IPOs.
Dilutive vs. Non-Dilutive:
Secondary offerings can be either dilutive (where the company issues new shares, increasing the total number outstanding) or non-dilutive (where existing shareholders sell their shares, but the total number of outstanding shares remains the same).