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Back Stop |
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Back Stop The act of providing last-resort support or security in a securities offering for the unsubscribed portion of shares. A company will try and raise capital through an issuance and to guarantee the amount received through the issue, the company will get a back stop from an underwriter or major shareholder to buy any of the unsubscribed shares. Notes: For example, in a rights offering you might hear "ABC Company will provide a 100% back stop of up to $100 million for any un-subscribed portion of the XYZ Company rights offering." If XYZ is trying to raise $200 million but only raises $100 million through investors then ABC Company will purchase the remainder.How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| But the long-term goal, the one that has been bringing him back again and again to the nation's capital, is the mission that has consumed much of his time this past year: winning another ally in the fight to create a federal backstop to natural catastrophic risks. Such insurance became prohibitively expensive after 9/11 until the Terrorism Risk Insurance Act was passed in 2002, which provided insurers with a $100 billion government backstop that would buffer them from financial ruin in the event of a large payout. Parks officials will employ youths in the area to remove play equipment and fencing in the play area, to help demolish the restroom building and to remove the backstop and dugout fencing and bleachers on the ball field. |
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backstop