Friday, May 1, 2009 | 4:43 p.m.
MGM Mirage today filed a shelf registration to issue stock, which gives the company permission to sell an undetermined number of shares at any point over the next two years.
The Securities and Exchange Commission filing is a common practice among large public companies and does not indicate that a stock issue is imminent, though it would enable the company to issue stock immediately without waiting to register the securities. The company's previous shelf offering expired May 1.
MGM Mirage is attempting to reduce its debt load – a restructuring effort that could take many forms – and fend off a potential Chapter 11 filing.
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