Rights offering

RECENT NEWS
MarketWatch  May 19  Comment 
Shares of Vince Holding Corp. shot up 36% in premarket trade Friday, to 45 cents, after the luxury apparel maker said it received a $30 million rights offering commitment letter from Sun Capital Partners V L.P. The letter indicates that Sun...
Flightglobal  Mar 8  Comment 
Korean Air s W457 billion ($399 million) rights issue closed with only 96.4% of the 22 million shares offered taken up.
SeekingAlpha  Feb 12  Comment 
MarketWatch  Feb 6  Comment 
Icahn Enteprises LP , the investing arm of billionaire Carl Icahn, on Monday set the pricing for its previously announced rights offering. The company said each whole right will be priced at $53.71 and entitle the holder to one newly issued...




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Rights offering

An issue of shares offered at a special price by a company to its existing shareholders in proportion to their holding of old shares. [1] Also rights issue.

Investors in common stock occasionally receive stock rights to purchase additional common stock below the existing market price. The stock rights were probably issued to satisfy the investor’s preemptive right to maintain an existing level of ownership in the company. Rights are issued below the existing market price to encourage the exercise of the rights. The rights are separate having their own markets. [2]

From "morally correct," "just, good, fair, proper, fitting, straight," to put right" "just, righteous, wise "honest, morally upright "just claim" "in a proper manner" [1]

References

  1. ‪Wall Street words: an A to Z guide to investment terms for today's investor‬ By David Logan Scott pg318
  2. Wiley CPA Exam Review 2010: Financial Accounting and Reporting by Patrick R. Delaney and O. Ray Whittington ISBN-10: 0470453516 pg585
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