Right

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Right

Privilege granted shareholders of a corporation to subscribe to shares of a new issue of common stock before it is offered to the public. Such a right, which normally has a life of two to four weeks, is freely transferable and entitles the holder to buy the new common stock below the public offering price. See: Warrant.

Rights Offering

In stock, the ability of a shareholder to maintain the same percentage of ownership in a company should the company issue more stock by buying a proportional number of shares at or below the market price. This protects the investor from devaluation of his/her shares if the company decides to hold a round of financing. The purchase of this proportional number of shares usually takes place before the new issue is offered to the secondary market, and must be exercised before a certain date (known as the expiration date) if the shareholder is to maintain the same percentage of ownership. Rights offerings or issues are also called subscription rights or simply rights. See also: Anti-dilution provision.

right

A certificate that permits the owner to purchase a certain number of shares, or, frequently, a fractional share of new stock from the issuer at a specific price. Rights are issued to existing stockholders in proportion to the number of shares the stockholders already own. Rights then may be combined with cash to purchase the new shares or they may be sold to other investors. Rights usually have value because they permit the owner to purchase shares of stock at less than the market price. A right is indicated in stock transaction tables by the symbol rt, appearing after the stock's name. Also called stock right, subscription right. See also ex-rights, preemptive right.
Should rights be sold or used?

Rights offerings refer to the right of an investor to maintain his or her percentage ownership in a company when the company decides to issue new stock. Generally the company will do so at a discount to its market price to attract buyers, thus the existing stockholders' rights have value. The decision a rights holder must make is whether to put more money into the stock of this company or to sell the rights in the open market as compensation for the dilution of his or her percentage ownership in the company. TIP: Such a purchase depends completely on the individual's circumstances, goals, prejudices, and objectives—just as in any other stock purchase—and should be approached accordingly.

Thomas J. McAllister, CFP, McAllister Financial Planning, Carmel, IN

Right

The opportunity a corporation gives a shareholder to buy additional shares at a special price for a limited time. Shareholders who don't use their rights can sell them to other investors.
References in classic literature ?
Yet, if God wills that it continue until all the wealth piled by the bondsman's two hundred and fifty years of unrequited toil shall be sunk, and until every drop of blood drawn by the lash shall be paid by another drawn with the sword, as was said three thousand years ago, so still it must be said, "The judgments of the Lord are true and righteous altogether.
At this point they came in sight of thirty forty windmills that there are on plain, and as soon as Don Quixote saw them he said to his squire, "Fortune is arranging matters for us better than we could have shaped our desires ourselves, for look there, friend Sancho Panza, where thirty or more monstrous giants present themselves, all of whom I mean to engage in battle and slay, and with whose spoils we shall begin to make our fortunes; for this is righteous warfare, and it is God's good service to sweep so evil a breed from off the face of the earth.
If indeed when the pilgrim arrives in the world below, he is delivered from the professors of justice in this world, and finds the true judges who are said to give judgment there, Minos and Rhadamanthus and Aeacus and Triptolemus, and other sons of God who were righteous in their own life, that pilgrimage will be worth making.
Men live but for a little season; if they are hard, and deal hardly, people wish them ill so long as they are alive, and speak contemptuously of them when they are dead, but he that is righteous and deals righteously, the people tell of his praise among all lands, and many shall call him blessed.
Besides this, one cannot by fair dealing, and without injury to others, satisfy the nobles, but you can satisfy the people, for their object is more righteous than that of the nobles, the latter wishing to oppress, while the former only desire not to be oppressed.
He had proceeded with wisdom and from the most righteous motives under heaven's blue only to be frustrated by hateful circumstances.
There were the sober garb, the general severity of mien, the gloomy but undismayed expression, the scriptural forms of speech, and the confidence in Heaven's blessing on a righteous cause, which would have marked a band of the original Puritans, when threatened by some peril of the wilderness.
Such appellants, unsupported by money, interest, or power, seldom make out a very strong case for reparation of any sort, in this righteous world of ours, and had it not been for the goodness of the dauphine it is probable that the vicomtesse and her grand-daughter would have been reduced to downright beggary.
Another time he said, 'I came to seek and to save that which was lost'; and another time, 'I came not to call the righteous but sinners to repentance.
But, happily for us, my brethren, the fountain of divine love flows from a source too pure to admit of pollution in its course; it extends, to those who drink of its vivifying waters, the peace of the righteous, and life everlasting; it endures through all time, and it pervades creation.
For instance, 'the effectual fervent prayer of a righteous man availeth much' is altogether for good.
We were all perfectly willing to keep the Sabbath day, but there are times when to keep the letter of a sacred law whose spirit is righteous, becomes a sin, and this was a case in point.