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preemptive right

noun
1.
a privilege given to an existing shareholder to buy a portion of a new stock issue at the offering price on a pro-rata per-share basis.
Origin
1850-1855
1850-55
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples for preemptive right
  • The effectiveness of a preemptive right depends on the continued ability of the nonprofit or public agency to exercise this right.

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