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How Post-IPO Companies Use At-the-Market Offerings

How Post-IPO Companies Use At-the-Market Offerings

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On this episode of Tech IPO Conversations with Fexingo, Lucas and Luna explore how post-IPO companies use at-the-market (ATM) offerings to raise capital gradually and avoid dilutive shocks. With Tesla trading around $380 and Rivian struggling near $16, the hosts drill into the contrasting strategies of established companies versus cash-hungry upstarts. Lucas breaks down the mechanics of an ATM program — how companies sell shares directly into the market at prevailing prices, often through an investment bank as sales agent. He points to recent data showing that ATM issuances have doubled since 2023, with companies raising over $35 billion in 2025 alone. Luna questions the signaling risk: doesn't it look desperate? Lucas explains that it depends on the context — a well-capitalized company like Tesla might use an ATM to opportunistically raise cheap equity, while a cash-burning firm like Rivian might rely on it to extend its runway. They also touch on the impact of the current regulatory environment under the Trump administration, including recent SEC guidance on ATM disclosures. The episode ends with a look ahead: as more companies stay private longer, ATMs could become the new normal for public-market capital raising. A donation segment mid-episode reminds listeners that the show is funded by listener support at buy me a coffee dot com slash fexingo. #ATMOfferings #PostIPO #EquityCapitalMarkets #Tesla #Rivian #SEC #TrumpAdministration #CapitalRaising #Dilution #PublicCompanies #Business #Finance #TechIPO #FexingoBusiness #BusinessPodcast #InvestmentBanking #StockMarket #CorporateFinance Keep every episode free: buymeacoffee.com/fexingo
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