>> I think by definition a secondary offering is insiders selling... <<
Strictly speaking, an offering is a “secondary” when the shares are not coming from the company itself, and it’s a “follow on” offering when the shares are coming from the company.
However, in some cases, a stock offering includes a mixture of shares from the company and shares from third parties, and many people on Wall Street refer to such a mixed offering as a “secondary.” (Some people call any non-IPO offering a secondary, but that’s clearly wrong.).
My point in the previous message was that EYET’s offering in May was 100% from insiders and 0% from the company itself.
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