S-3 filing (shelf registration)

An S-3 filing is a streamlined way for companies to register securities (stocks or bonds) with the SEC that they can sell over time, rather than all at once. Think of it like getting pre-approval to sell shares whenever they need cash, instead of filing paperwork each time. You'll see this mentioned in news when a company announces a new "shelf offering"—it signals management plans to raise money soon. The SEC allows S-3 filings for established, larger companies because they're considered lower-risk. For example, TechCorp Inc. might file an S-3 to register $500 million in stock, then sell $100 million now and $400 million later as needed. It's worth noting because it can dilute existing shareholders' ownership over time.