Issuers Face Restatements From 'Down Round' Provisions
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Issuers Face Restatements From 'Down Round' Provisions

By: Dan Lonkevich | January 18, 2010

PIPE funds have been saddling issuers with millions of dollars in derivatives liabilities because of so-called "down round"provisions in structured deals, accountants say. The provisions require an issuer to reset the price of warrants and convertible securities if a secondary offering is priced lower.

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