What is a Spot Secondary?
How Does a Spot Secondary Work?
A spot secondary is generally a transaction with just one type of holder -- usually institutional investors -- and so it is not subject to the typical underwriting protocol associated with issuing stock.
Why Does a Spot Secondary Matter?
Since spot secondary issues avoid the time and costs associated with the normal SEC filing procedure, they are often more quickly distributed and discounted relative to shares sold to the public at large.
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