We examine the disclosure of size revisions of seasoned stock offerings to see what information revisions impart to investors. Revisions could deliver firm-originated information, which discloses something managers know about the firm. Alternatively, they could disseminate market-originated...

We examine the behavior of stock prices and trading activity around the issue day of seasoned common stock offerings. We find a distinct V-shaped pattern in prices, which decline before the issue and then rise following it. These price changes are nontrivial, especially for over-the-counter...