What is an "at-the-market" offering? -

An "at-the-market" offering is an offering of securities into an existing trading market for outstanding shares of the same class at other than a fixed price on, or though the facilities of, a national securities exchange, or to or though a market marker otherwise than on an exchange. Therefore, the price at which securities are sold in an at-the-market offering will vary because it is based on the price on the securities in the trading market.