Reference
Private Market Secondary Liquidity Engine glossary
Terms used in Private Market Secondary Liquidity Engine and its documentation.
Applies to Private Market Secondary Liquidity Engine as it works today. Moraph updates the platform continuously, and this page is reviewed when it changes.
Terms used in Private Market Secondary Liquidity Engine and its documentation.
| Term | Meaning |
|---|---|
| Secondary sale | A sale of existing private company shares by a holder to another buyer, not an issue of new shares by the company. |
| ROFR | Right of first refusal: the right of the company or certain investors to buy shares on the same terms before a third party. |
| Co-sale right | The right of certain holders to sell some of their own shares alongside the seller. |
| Election period | The time a rights holder has to exercise or waive a right, counted from the configured terms. |
| Lock-up | A period during which certain shares may not be transferred. |
| Blackout period | A period set by the company during which transfers are not processed. |
| Holder of record | A holder counted for the company's Section 12(g) position. |
| Cap table | The record of holdings by share class and holder. |
| Settlement agent | The bank, escrow agent or broker-dealer you appoint to move funds and shares; Moraph holds neither. |
| Tender window | A company-sponsored period in which eligible holders can sell under one program. |
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