Shelf registration is usually available to companies deemed reliable by the securities regulation authority in the relevant country.
Form S-3 issuers may use shelf registration to register securities that will be offered on an immediate, continuous or delayed basis.
A WKSI is a company that has filed all annual, quarterly and current reports in a timely manner, and either has a greater than $700 million market capitalization or has issued $1 billion in registered debt offerings over the past three years.
By using shelf registration, the firm can fulfill all registration-related procedures beforehand and go to market quickly when conditions become more favorable.
Finally, firms often use universal shelf filings and choose between debt and equity offerings based on the prevailing relative market conditions.