Transcription of FREQUENTLY ASKED QUESTIONS ABOUT RIGHTS …
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FREQUENTLY ASKED QUESTIONS ABOUT RIGHTS …
FREQUENTLY ASKED QUESTIONS ABOUT RIGHTS OFFERINGS Background What is a RIGHTS offering? A RIGHTS offering typically provides an issuer s existing shareholders the opportunity to purchase a pro rata portion of additional shares (also referred to as subscription warrants ) of the issuer s stock at a specific price per share (the subscription price ), which is typically set at a discount to the recent trading price of the issuer s stock. How are RIGHTS distributed? All shareholders are given the right to purchase shares based on the number of shares they own on a specified record date, so there is no dilutive effect to shareholders who exercise the RIGHTS issued to them.
What is a “step‐up privilege”? A “step‐up privilege” may be offered to shareholders when the rights are not easily divisible by the
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