Overview
At-the-market offerings (ATM offerings or ATM programs) enable companies to access the capital markets in a quick and efficient manner. This article discusses the market trends for ATM offerings in 2017 as well as deal structure and process, disclosure trends, and outlook for 2018. ATM offerings had a record year in 2017, with the combined value of announced ATM offerings equaling approximately $27.82 billion. By comparison, in 2016 the combined value of all ATM offerings equaled $23.01 billion. Overall, there were approximately 205 ATM offerings announced by exchange-listed companies in 2017. This was up from the 189 ATM offerings announced the year before, but just short of the record 209 ATM offerings announced in 2015.
