IFO4
Loading...A sale of equity that follows the initial public offering, either by the issuer raising primary capital, by selling shareholders distributing existing shares, or both. Secondary offerings affect the float, the pricing dynamics, and in primary form the share count. The federation requires both follow-on primary issuances and material insider distributions to be disclosed with their effect on the fully diluted share table and on the float metric used in the IFO4 Score under MEV-Annex:4.1. Block trades by insiders above the disclosure threshold are reportable.
A standard term of post-war American securities practice; the term distinguishes follow-on issuance from the initial primary offering.
Federation members report secondary offerings within five business days of pricing. The report includes proceeds, shares offered, lock-up terms, and effect on float. Insider participation above ten percent of pre-offering holdings is footnoted under TGS-002:2.3.
@misc{ifo4_glossary_secondary_offering,
title = {{Secondary Offering}},
author = {{IFO4 Federation Editorial Board}},
howpublished = {{IFO4 Federation Glossary, slug \texttt{secondary-offering}}},
year = {2026},
url = {https://ifo4.org/glossary/secondary-offering},
note = {Category: Capital; key: SecondaryOffering}
}Federation members and accredited practitioners may challenge any entry under TGS-002:1.7. Filed challenges are routed to the editorial board, triaged into the revision register, and resolved in writing on the public docket. The slug remains stable through any revision.