Series 24: Underwriting Agreement (UA)

Taken from our Series 24 Online Guide

Underwriting Agreement (UA)

The underwriting agreement (UA) sets the terms and conditions of the agreement between an issuer and the lead underwriter. Note that the Agreement Among Underwriters grants authority to the lead underwriter to enter into the UA with the issuer on their behalf.

The UA includes the following information:

• It specifies the public offering price or a formula with which to derive it.
• It specifies the per-share underwriting spread.
• It states the over-allotment (green shoe) option, if granted, allowing underwriters to issue up to 15% more shares than originally planned (see pag

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