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Summary
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Method
for companies to raise additional capital
- In US, typically only used by mutual funds
and by distressed companies
- Often used in foreign countries such as
England
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Notable Transactions
Popular Foreign Regional Bank
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Rights
offering by Puerto Rican bank
- Issued non- transferable rights to purchase common stock
- Backstopped by a potential underwritten offering,
if undersubscribed
- UBS / Popular Securities
- Sullivan & Cromwell / Sidley Austin
SEC
Filings
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Revlon Cosmetics SEC_CODE_REF_0090001192884
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Rights
offering by cosmetics company
- Issued fully transferable rights to purchase common stock
- Part of plan to recapitalize the company
- Principal stockholder (MacAndrews & Forbes)
had agreed to back-stop the rights offering
- Offering was fully subscribed, vitiating need for
back stop
Announced
2.05.03
Completed
6.20.03
Prospectus
5.12.03
Form
S-2 filings
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Related Topics
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