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mrdrifter

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mrdrifter

Re: ChuckBits post# 32879

Wednesday, 02/21/2018 8:03:00 PM

Wednesday, February 21, 2018 8:03:00 PM

Post# of 43557
No problem. If and when that Reed’s offering becomes signed I think we’re golden.

DEFINITION of 'Backstop Purchaser'
An entity that agrees to purchase all the remaining, unsubscribed securities from a rights offering. The backstop purchaser provides security to the issuing firm by guaranteeing that all of the newly issued shares will be purchased, allowing the company to fulfill its fundraising requirements.

Side note. Didn’t Parsi say to expect the offering price on Friday as well? Only two more days :)
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