A large issuer (smaller than a well-known seasoned issuer, WKSI) that must have met a number of requirements in terms of the size of issue and exchange-listing. A seasoned issuer is, by definition, a company that has previously issued securities with a specific exchange (a national exchange) where its public float (issued securities) stands at a minimum amount (e.g., USD 75 million as required by the Securities and Exchange Commission, USA) and that a specific percentage (e.g., more than third) of its public float has not been sold over the course of a year back.

With a “seasoned issuer” status, an issuer is eligible to use Form S-3 or Form F-3 to register a primary offering of securities.