The process of making a shelf-registered public offering (of securities) active and running. In other words, such an offering is said to have become actual by taking it down off the shelf, i.e., from a shelf registration statement that has already been declared effective. An effective shelf registration statement allows an issuer a quick access to the capital markets: when needed or when market conditions are favorable. Once an issuer’s shelf registration statement has been declared effective, no exchange review would be required for any subsequent takedowns.

This is also referred to as a takedown of securities.