Which one of the following statements is NOT true?
A) Shelf registration gives firms less flexibility in bringing securities to market.
B) During a two-year window, the firm can take the securities ?off the shelf? and sell them as needed.
C) Shelf registration allows firms to periodically sell small amounts of securities.
D) A shelf registration statement can cover multiple securities, and there is no penalty if authorized securities are not issued.
Answer: A
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