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Subscription

An agreement to buy a new issue of a security before it is actually issued. Before a new issue, underwriters canvass potential investors, who may or may not make an order to buy a portion of the new issue. The extent to which the issue is subscribed may affect the price when the security is actually issued. It is important to note that a subscription is not binding, as it is illegal to sell a security that has not actually been issued. To subscribe is also called to book. See also: Overbooked, Underbooked.

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To use rights for ordering securities sold as a new issue.
References in periodicals archive ?
The 18,288 shares not subscribed for using subscription rights - equivalent to 0.
Including the shares that have been subscribed for without preferential rights, the rights issue has been oversubscribed by approximately 56 per cent
Revlon has indicated that, while it knows the total number of shares of Revlon Class A common stock subscribed for in the rights offering pursuant to the basic and over-subscription privileges, it is in the process of calculating the over-subscriptions.
Consequently, at most 11,610,484 series A shares will be subscribed for within the new share issue.