We examine the issuance choice across rights issues of equity, unit offerings and standalone warrants and investigate the market reactions to these issue types. We find that agency costs, growth opportunities and current funding needs relative to assets in place are prime drivers of the type of...

We examine the issuance choice across rights issues of equity, unit offerings, and standalone warrants and investigate the market reactions to these issue types. We find that agency costs, growth opportunities, and current funding needs relative to assets in place are prime drivers of the type...

Studies of restricted securities private placements have explained the difference between the price of stock sold to private investors and the issuer's contemporaneous stock price in the market with factors such as the information asymmetry between issuer management and buyers, the possible...