So how do secondary offerings work, practically speaking? They've named the amount they want to raise, not a number of shares. So do they wait until trading c

So how do secondary offerings work, practically speaking? They've named the amount they want to raise, not a number of shares. So do they wait until trading closes one day, issue how many shares they need to to make that work out to $500M and then sell it to people who've "registered" to purchase $X of it? And then when the market starts the next day there's just an extra $500M in market cap but all the shares trade similarly?