Transfer Agent

Definition:

An agent typically used by Public Companies to keep track of the individuals and entities that own their stocks and bonds. Transfer Agents usually perform three main functions: (i) issue and cancel certificates to reflect changes in ownership; (ii) act as an intermediary for the company, as Paying Agent (distributing dividend or other payments), Proxy Agent (sending out Proxy materials), exchange agent (exchanging a company’s stock or bonds in a merger), tender agent (tendering shares in a Tender Offer), and Mailing Agent (mailing the company’s Quarterly Reports, Annual Reports, and other reports); and (iii) handle the replacement of lost, destroyed, or stolen certificates.

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