Test Your Knowledge on Antidilution Protection with Our Convertible Securities a...
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Questions and Answers

What is the difference between partial ratchet and full ratchet antidilution protection?

  • Partial ratchet lowers the conversion/exercise price to equal the issuance/conversion price of a subsequent issuance, while full ratchet does not adjust the conversion/exercise price
  • Partial ratchet and full ratchet are the same thing
  • Partial ratchet lowers the conversion/exercise price to equal the issuance/conversion price of a subsequent issuance, while full ratchet reduces it partially
  • Partial ratchet reduces the conversion/exercise price partially, while full ratchet lowers it to equal the issuance/conversion price of a subsequent issuance (correct)

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