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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The amount of ViryaNet Ordinary Shares issued, as part of the stock consideration, will be determined using the average closing price per share for the twenty-day period prior to the date of the closing of the acquisition, provided that ViryaNet shall not be required to issue as part of the acquisition a number of Ordinary Shares exceeding 19.
The total value at closing may rise or fall based on the average per share price of Interchange stock for a twenty-day period prior to closing.
Based on that twenty-day period, the average closing sale price per share of CP&L common stock for purposes of calculating the exchange ratio is $40.