Circle


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Circle

Underwriters, actual or potential, often seek out and "circle" investor interest in a new issue before final pricing. The customer circled has basically made a commitment to purchase the issue if it is available at an agreed-upon price. If the actual price is other than that stipulated, the customer supposedly has first offer at the actual price.

Circle

Informal; to attempt to find investors for underwriting purposes. Before a new issue, underwriters circle potential investors, who may or may not book an order to buy a portion. Potential investors are provided with a preliminary prospectus if they are circled and indicate interest. It is important to note that circling is non-binding because it is illegal to sell a security that has not been issued. See also: Overbooked, Underbooked, Fully Subscribed, Indication of Interest.

circle

A process used in finding interested buyers of a new security issue before determining the final price. A potential customer will be given a preliminary price (for example, the interest rate for a bond or the selling price for a stock) and will commit to a purchase if the issue is actually priced at the preliminary estimate. A different price permits the customer to back out or to get the first chance to buy the issue at the new price. Compare indication of interest.
References in periodicals archive ?
Under the terms of the agreement, Circle Peak and senior management will recapitalize the Company from the founding Coin family.
We are very excited to announce this partnership, and believe it signals the next phase of Circle Graphics' growth," said Hank Ridless, Founder and President of Circle Graphics.
Wayne Christiansen, left, jams with members of the Peacemaker Drum Circle, including the Rev.
As we discussed our findings, we felt it was important to learn more about why some students seemed to be less excited about picking up a book to read at the conclusion of the literature circle unit, as well as why some seemed a bit more interested in reading.
11 With the paper circle at the top, roll the taped pencils back and forth between your palms five times.
Because each of the 12 pentagonal faces is glued to the opposite face, each circle should match an identical circle on the opposite pentagon.
Make no mistake, this Raccoon Circle activity is a bit higher level than most, but it is excellent for setting the stage to talk about conflict, negotiation, and win/win, win/lose, and lose/lose scenarios.
Each defensive player has to line up correctly, execute his basic technique on air, and sprint all out to the designated circle.
The Circle begins in a maternity ward, where an old woman greets the news of her granddaughter's birth with trepidation--her in-laws will be furious that the child isn't a boy, and her daughter risks repudiation by a husband who can divorce her at will.
The so-called SOM plan has been criticized, however, for not turning over more of the Circle to the people.
9% minority equity interest in Circle T Explorer and has become its strategic sales and marketing partner.
Sacrilegious though it may sound, I kept hoping one of the crop circle makers - prankster or E.