private equity line of credit

private equity line of credit
USA
private equity line, Also known as private equity line of credit.
A transaction in which investors commit to buy equity securities from a company in a private placement, and the company has the right to draw down on this commitment on a periodic basis. In order to draw down on this commitment, the company must have either filed a registration statement that registers the resale of the equity securities to be issued or a resale registration statement that has been declared effective. This transaction is the equivalent of a PIPE transaction with deferred takedowns.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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