Layered Cutback
Whereby an Underwriter’s Cutback is layered so that certain parties in the Syndicate have higher Priority than others. In a Layered Cutback, an underwriter pares down an offering until the “correct” size is reached.
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Whereby an Underwriter’s Cutback is layered so that certain parties in the Syndicate have higher Priority than others. In a Layered Cutback, an underwriter pares down an offering until the “correct” size is reached.