securities

A seasoned issuer is any issuer that is eligible to use a Form S-3 or Form F-3 to register primary offerings. 

[Last reviewed in February of 2022 by the Wex Definitions Team]

The secondary market is the exchange where secondary offerings occur. 

[Last reviewed in January of 2022 by the Wex Definitions Team]

A secondary offering is a sale of securities by someone who purchased the security in a primary offering to a subsequent purchaser. That is, a private investor sells their shares to another private investor. Unlike a primary offering, the issuer is not privy to the transaction, so does not receive the proceeds of the sale. 

Section 11 refers to Section 11 of the Securities Act, formally 15 U.S.C.

Section 4(1½) or Section 4(a)(1½) is a form of private placement resale of securities whose resale is otherwise restricted.

Section 4(a)(7) of the Securities Act is the codification of Section 4(1 ½).

Section 5 commonly refers to Section 5 of the Securities Act, formally 15 U.S.C. § 77e, which requires issuers to file a registration statement when publicly offering securities. 

A secured party is a person or entity in whose favor a security interest is created or provided for under a security agreement, regardless of whether an obligation to be secured is currently outstanding.

• secured transactions

A secured transaction is an arrangement in which a buyer or borrower (referred to as the debtor) guarantees payment of an obligation by granting a security interest in proper

Secured Transactions Law: An Overview

Secured transaction law governs the creation, perfection, priority, and enforcement of security interests in personal property.

• secured transactions