Glossary
Unit Investment Trust (UIT)
A Unit Investment Trust, or UIT, is an investment company that offers a fixed portfolio of stocks, bonds, or other securities. UITs are designed to provide a specific investment strategy over a set term, after which the trust is typically dissolved.
Conditional Offer to Buy (COB)
A "COB" is an offer to purchase offering shares under certain conditions, one of which incudes a final prie that could be greater than or less than the stated price range.
Initial Public Offering (IPO)
When a company issues shares to the public for the first time. Known as "going public".
Individual Investor
A user of the Click Capital Markets app, usually with the intention of following and/or investing in public offerings. Also referred to as "Retail Investor".
Allocation
The number of shares distributed to an investor.
Brokerage
Refers to either an online brokerage or traditional brokerage whose clients make either directed or self-directed investments.
Exchange
An exchange platform where investors can buy and sell stock. NASDAQ and NYSE are exchanges.
Issuer
The company that is going public and is issuing shares to the public.
Lead Underwriter
This is the Underwriter that leads an offering, located in the upper left hand side of the prospectus.
Offering
An Offering refers to any new issue product in which the offering will be made available in the public markets.
Price Range
An estimated range, usually in $2.00 increments ($18-$20 as an example) within which an Offering is expected to be priced.
Prospectus
A legal document that provides details about an offering that is required by and filed with the Securities and Exchange Commission.
Quiet Period
In terms of an IPO, the period where an issuer is subject to a SEC ban on promotional publicity. The quiet period usually lasts either 40 or 90 days from the IPO. – Source: Investopedia.com
Registration Period
The process by which a company files required documents with the Securities and Exchange Commission detailing the particulars of a proposed Public Offering. A company issuing shares must reveal essential facts and detailed information about its ...
Retail Investor
This is typically an individual who invests his or her own money in stocks, bonds, real estate, and other investment types.
Underwriter
An investment bank that works with the Issuer to take it public.