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HandbookDeal structure

What are appraisal rights?

What it means and how to read it on a deal.

Tracking Alpha

What it is

A holder's right to skip the deal price and ask a court to set the fair value of their shares instead; some states call them dissenters' rights.

On the site asAvailableNot availableDissenters' rights

How to read it

The checklist reads Available or Not available, as the filings say, and the list's tags Appraisal rights or No appraisal rights. A court's fair value can come out above or below the deal price, and holders who demand it wait for the case instead of being paid at the closing.

The demand has a deadline: see appraisal demand deadline.

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