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What is the meaning of the green shoe option?

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What is the meaning of the green shoe option?

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The green shoe option gives the underwriter the right to sell at the original offering price additional company shares often up to 15 percent of the offering for up to 30 days after the IPO takes place. The over-allotment option provides the underwriter with the ability to enlarge the offering without committing to do so in advance.

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