Definition 1.
Fee charged by a syndicate, equal to the difference between the gross sales to investors and the net proceeds received by the issuer.
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Definition 2.
The income that is generated by the underwriting syndicate and the selling group, which is essentially the difference between the amount paid to the issuer of securities in a primary distribution and the public offering price.
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Definition 3.
The difference between what an underwriter pays for a securities issue, and the price at which he offers it to the public. (See underwriter)
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Definition 4.
The spread between the amount received by underwriters from the public offering price and the amount underwriters pay to the issuing company for the securities.
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