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Contingent Value Right

   Also found in: Acronyms, Wikipedia 0.01 sec.
Contingent Value Right
A right attached to a stock entitling the holder to the difference between the share price and some stated amount of money should the share price not exceed that amount in a given period of time. CVRs are most often attached to stocks after a merger or acquisition to encourage shareholders not to sell, and to give the new situation a chance to become profitable.

contingent value right (CVR)
The right to a cash payment if the average price of an underlying security fails to reach a specified level by a certain date. The size of the payment to the owner of the right depends on the difference between the specified and actual prices. The CVR expires without value if the actual price of the underlying security exceeds the specified price.


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Pharmacopeia stockholders will also receive contingent value rights under which they could receive an aggregate $15 million cash payment if Ligand enters into a license, sale, development, marketing or option agreement with respect to its DARA program by December 31, 2011.
ACLARA stockholders will own around 48% of the company and have contingent value rights for potential cash payments.
 
 
 
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