All Sectors use ATMs
ATMs are a capital management tool used extensively in the United States since the 1990s by listed companies to unlock capital, mitigate risk, pay down debt, fine tune the balance sheet and optimise their cost of capital.
1,182 US companies utilised ATMs to raise $173 billion between 2008 and 2016 (with many more establishing an ATM without actually utilising it. E.g. in 2016 $30 billion was raised using ATMs, though over $100+ billion was available under ATM programs).
ATMs are used across all sectors by companies of all sizes, from the largest industrials to the smallest of growth companies.
LARge CAPs use atms
Complement capital management strategies, including cash flow optimisation and to the strengthen the balance sheet. E.g. in conjunction with a DRP
Mid & Small Caps use atms
Opportunistically raise capital around news or liquidity events when price and volume may be attractive. E.g. following positive assay results or drug trial results