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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.


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


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 ?
Well, blamed if the king didn't bill the house and the niggers and all the property for auction straight off -- sale two days after the funeral; but anybody could buy private beforehand if they wanted to.
But the partic'larest thing of all is, as nobody took any notice on it but me, and they answered straight off "yes", like as if it had been me saying "Amen" i' the right place, without listening to what went before.
I resolved on a desperate measure: to borrow fifteen roubles straight off from Anton Antonitch.
besides, if they do, we can easily make an excuse; we came straight off a journey and are insurgents, too.
It's the same with the notions in religion as it is with math'matics--a man may be able to work problems straight off in's head as he sits by the fire and smokes his pipe, but if he has to make a machine or a building, he must have a will and a resolution and love something else better than his own ease.
The old fellow went straight off to Nastasia Philipovna, touched the floor with his forehead, and began blubbering and beseeching her on his knees to give him back the diamonds.
Was it round the point, or is she lying straight off the land?
It was as if he had walked straight off a cliff and still marched steadily in mid-air.
And D'Artagnan, drawing by a gesture peculiar to himself his shoulder-belt over his shoulder, went straight off to M.
Catching sight of Tom's face in the state I have described, all fear of consequences vanishing out of his mind; he rushed straight off to the matron's room, beseeching her to get the fight stopped, or he should die.
or straight off, without dear anything, as seemed the most natural when people were embarrassed?
Didn't come back next day; didn't come back next week; missis had bills printed, sayin' that, if he'd come back, he should be forgiven everythin' (which was very liberal, seein' that he hadn't done nothin' at all); the canals was dragged, and for two months arterwards, wenever a body turned up, it was carried, as a reg'lar thing, straight off to the sassage shop.