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Term-sheet control & investor rights · Specialist

Piggyback registration

Also called: piggyback right

ELI5

Investors may add shares to someone else's public registration.

Used in conversation

“Piggyback registration remains subject to underwriter cutback.”

Definition

A right allowing holders to include shares in a registration initiated by the company or another holder.

Here “Piggyback registration” means: A right allowing holders to include shares in a registration initiated by the company or another holder.

Pitch context

You will see “Piggyback registration” in fundraising decks, data rooms, term sheets and investor conversations when the discussion reaches term-sheet control & investor rights.

Why it matters: In term-sheet control & investor rights, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

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Sources & evidence · 5

Direct term-level sources and supporting source families.