Monday, Novatel Wireless Inc. (NVTL) announced the company's filing of a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission or SEC, subject to review by the SEC. When declared effective by the SEC, the company said it may, from time to time, offer and sell up to $125 million of equity, debt or other types of securities described in the registration statement.
The terms of any future offering would be established at the time of the offering and would be subject to market conditions and approval by the company's board. While Novatel Wireless does not have any immediate plans to use the shelf registration statement, this filing may allow it to offer and sell securities on an expedited basis if market opportunities present themselves.
Any offering of securities covered by the shelf registration statement will be made only by means of a prospectus authorized by the company. A registration statement relating to these securities has been filed with the SEC, but has not yet become effective.
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