Full Ratchet

Full Ratchet

The option for existing shareholders in some publicly-traded companies to exchange their shares for more shares in a new issue of stock where the newly issued stock is made at a lower price. For example, if one purchases shares for $60 per share and the company later makes a new issue at $20 per share, the shareholder may exchange the shares purchased at $60 for an equivalent amount in $20 shares. This will triple his/her number of shares. This is an anti-dilution provision.
References in classic literature ?
I promise you that in that case, if the truth is forced from him, there the matter will rest; there must be circumstances in Oliver's little history which it would be painful to drag before the public eye, and if the truth is once elicited, they shall go scot free.
FULL RATCHET provides a fine Silas Cade thriller and the sequel to Clawback, and is recommended both for newcomers and prior fans.
The notes have an 18-month term and full ratchet anti dilution protection, repayment to be made in 12 equal monthly payments beginning in March 2012.
The current October 2009 Investors will have full ratchet anti-dilution protection and, if the event of a subsequent financing, the October 2009 Investors may elect, in their own discretion, to exchange all or some of the October 2009 Debentures (but not the Warrants) for any securities or units issued on a dollar-for-dollar basis or to have any particular provisions of the subsequent financing legal documents apply to the documents utilized for the October 2009 Financing.
Anti-Dilution Financial Models in Excel that provide plug and play models that have step-by-step instructions how to use and are a way to show your clients the value of what you are proposing (models include weighted average anti-dilution, broad-based weighted average anti-dilution, narrow-based weighted average anti-dilution, full ratchet anti-dilution, and stock split adjustment)
The series A preferred stock and the market and premium warrants are subject to full ratchet anti-dilution provisions for the first 18 months after issuance and thereafter weighted average protection for issuances of capital stock below their respective conversion or exercise prices, except in specified cases.
The note and the warrants are subject to full ratchet antidilution provisions.
Both the convertible and exchangeable features of the debenture provide investors with full ratchet dilution protection.
The conversion price of the Debentures and the exercise price of the Warrants will be subject to full ratchet, anti-dilution adjustments in the event the Company completes a subsequent financing at a purchase price that is lower than the conversion price of the Debentures or exercise price of the Warrants.
Each of the Series G Incentive Warrants and the Series I Incentive Warrants shall have a term of four and one-half-years, contain piggyback registration rights, contain full ratchet anti-dilution protection and have an exercise price equal to $0.
Each of the Series G Incentive Warrants and the Series I Incentive Warrants shall have a term of four and one-half years, contain piggyback registration rights, contain full ratchet anti-dilution protection and have an exercise price equal to $0.