Circle

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Related to circle the wagons: circle the waggons

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 ?
Circle the wagons, stockpile your weapons, and prepare yourself for what could be a long and unconventional war.
Around what victimized industry was he determined to circle the wagons? Farming?
The Brazilians started to circle the wagons. Cabotage provided a safety net.
Employees Circle the Wagons," one recent Washington Times headline announced.
For many the Republican takeover of Congress reinforces a tendency to circle the wagons around Clinton in the vain hope that he'll do something other than capitulate.
While we agree with JD that there will be no "starter gun" for the collapse, we think a time may come to circle the wagons. It would be nice to have more than one wagon.
It's not a makey-uppy, 'Let's get them going here, let's circle the wagons and let's do it for Diarmuid' type of thing.
"All large organisations when they are confronted, when they are in trouble, when they are being tested, they tend to go into protective mode and they tend to circle the wagons and all organisations eventually come to exist for their own existence only.
They can tend to go gung-ho and they don't exactly circle the wagons. If you put Arsenal's defence under the cosh for any great period of time, they always give the impression they could buckle.
''You circle the wagons, you keep working hard, you keep investing everything you've got, you keep believing in each other, and eventually good things are going to happen.
But they won't because the councillors will want to circle the wagons and protect themselves, probably thinking up bigger and better titles like 'councillor for super council sports and regeneration'!
"I circle the wagons with my other survivor friends and we go over the battle plans a FIVE-HUNDREDTH time, figure out where our dead friend that we love and mourn deviated, and we prepare to greet the coming day in a manner that will give something other than our addictions a fair shot at killing us," Delaney said.