Final answer:
The disclosure document used during the cooling-off period for securities offerings is the red herring, which is a preliminary prospectus that gathers investor interest before the final prospectus is issued.
Step-by-step explanation:
The disclosure document used to gather indications of interest during the cooling-off period in securities offerings is the red herring. This term refers to a preliminary prospectus or offering circular that is shared with prospective investors before the final prospectus is issued.
It must have a red legend on its cover, explaining that it is not an offer to sell nor a solicitation of an offer to buy and that the securities may not be sold nor the offers to buy be accepted before the registration statement becomes effective. This document includes information about the company's operations, financial statements, and details about the securities being offered, such as the planned price range, although the information may still be subject to change.