Wrap

Definition:

A disclosure document that is wrapped around (or stapled to the front of) an Offering Memorandum or Prospectus in order to comply with specific statutory disclosure requirements in certain jurisdictions in which an offering is being made (e.g., in a cross-border Private Placement in Canada, a Canadian Wrap which surrounds or is stapled to the front of the Offering Memorandum is customarily required. The Wrap contains a description of the statutory rights of action, tax disclosure where the securities in the hands of Canadian holders differs materially from the tax treatment in the hands of US holders, and other information of interest to prospective Canadian purchasers).

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