'Tombstones' Mark Passages In High Finance; Solemn Ads Announce Birth Of New Stock, Bond Issues

The Washington Post | August 28, 1999| | Copyright

Perusing the pages of the financial section of this paper, have you ever noticed the tombstones?

That's right, tombstones. In spite of their name, they are actually advertisements for any sale of new securities--an initial public offering of stock (IPO), a bond sale or a merger between two companies. U.S. securities laws apply to these notices, and are fairly strict as to what is allowed. Typically, tombstones announce the name of the company or companies, the type of offering and size (that is, the number of shares), the offering price and date, a bit of legalese, and the name of the ...

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