Private stock offerings examples

Posted: LouD On: 20.06.2017

Watered stock is an asset with an artificially- inflated value. It entailed tricking cattle to bloat itself with water before it was weighed during a sale transaction. Its introduction to the New York financial district is popularly credited to Daniel Drewa cattle driver turned financier. American stock promoters in the late s could inflate their claims about a company's assets and profitability, and sell stocks and bonds in excess of the company's actual value.

To do so, they would contribute property to a new corporation in return for stock at an inflated par value. On the balance sheetthe property would be the corporation's only capitaland because legal capital was fixed to aggregate par value, the value of the property would go up.

Private Placement

Holders of watered stock could be personally liable if creditors foreclosed on the corporation's assets. Because par value was such an unreliable indicator of the actual value of stock, and because high par values could create liability for investors if the corporation went into bankruptcy, corporate lawyers began advising their clients to issue stocks with low par values.

The legal capital or "stated capital" of the corporation would still be determined based on par value, but the balance sheet would include the investment over par value as a capital surplusand everything would still balance. InNew York authorized corporations to issue "no par stock" with no par value at all, in which case the board of directors would allocate the incoming capital between stated capital and capital surplus.

All other states followed suit.

Initial public offering - Wikipedia

The last major American court case dealing with watered stock was in The practice of watered stock was sharply criticized by members of the Social Gospel movement such as George D.

Herron [7] and Walter Rauschenbusch. From Wikipedia, the free encyclopedia. The Judicial Valuation of Property for Stock-Issue Purposes". The Yale Law Journal.

The Judicial Valuation of Property for Stock-Issue Purposes. Columbia University Press The Book of Daniel Drew: A Private stock offerings examples of the Fisk-Gould-Tweed Regime from the Inside. The Money Game in Old New York: Daniel Drew and His Times.

University of Kentucky, The Scarlet Woman of Wall Street: Jay Gould, Jim Fisk, Cornelius Vanderbilt, the Erie Railway Wars, and the Birth of Wall Street. The Sacramento Daily UnionVolume 45, Number9 April Between Caesar and Jesus. Retrieved 16 June Primary market Secondary market Third market Fourth market. Common stock Golden share Preferred stock Restricted stock Tracking stock.

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private stock offerings examples

Corporate finance and investment banking. Convertible debt Exchangeable debt Mezzanine debt Pari passu Preferred equity Second lien debt Senior debt Senior secured debt Shareholder loan Stock Subordinated debt Warrant. At-the-market offering Book building Bookrunner Corporate spin-off Equity carve-out Follow-on offering Greenshoe Reverse Initial public offering Private placement Public offering Rights issue Seasoned equity offering Secondary market offering Underwriting.

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Private Placement of Securities - Encyclopedia - Business Terms | icamaveyi.web.fc2.com

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