twenty-day period


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Twenty-day period

The period during which the SEC inspects registration statement and preliminary prospectus prior to a new issue or secondary distribution.

Cooling-Off Period

An SEC rule mandating that several days transpire between the filing of a new issue's prospectus and the actual offering of the issue. This allows potential buyers and the seller to have a final chance to investigate the new issue and attempt to determine if there will be any previously unforeseen problems. The cooling off period is usually 20 days, but the SEC may change that for individual offerings at its discretion. It is also called the waiting period.

twenty-day period

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81569 shares of Avnet common stock (based upon the closing price for Avnet common stock on June 25, 1999) subject to adjustment based upon the average price of Avnet's common stock during a twenty-day period prior to the closing and also subject to proration if more than 50% cash or stock in the aggregate is elected.
The ratio will be determined based upon the trading range of Longhorn's common stock on Nasdaq during a twenty-day period prior to the closing of the transaction.