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janice shell

08/05/18 11:14 PM

#15027 RE: Kabuli #15025

The S-3 doesn't obligate them to offer any stock for sale immediately. When they want to use the shelf registration, they have to make another filing, specifying the size of the offering, its duration, and so on.

But the S-3--the shelf--has streamlined the process for them, so they can proceed quickly when and if they want to.