Event#165tier 1live in productionNew
secondary offering dilution
cadence: Dailydata: mediumshort only
paper
1986
Source
Asquith, P., Mullins, D. W. (1986). "Equity Issues and Offering Dilution." Journal of Financial Economics, 15(1-2), 61-89. Also Mikkelson-Partch 1986 JFE.
Read the paper →
What it checks
Shelf takedown surprise → stock drops 2-4% in a month.
Mechanism
Shelf takedowns (424B5) → -2 to -4% on announcement; continuation 30d.
No production champion data for this family yet. Stats appear once the discovery pipeline promotes at least one strategy with this family tag.
Signal rule
short between days 5-30 post-takedown; hold 5/15/30d
Data dependencies
sec_shelf_takedownsWorker data table — see services/worker schema.
daily_pricesAdjusted-close OHLCV for every US-listed ticker; primary price feed.
Expected edge
- Paper alpha
- -2 to -4%
- Paper window
- T+5d to T+30d
-2 to -4% CAR with 30d continuation.
Example tickers where this is likely to fire
Illustrative only — the signal fires based on the live data, not a fixed list.
Related families
Explore secondary offering dilution on alphactor.ai
See which tickers this family is currently firing on, with live signals and rankings.