The Tindy Co. has set a record date of Friday, July 22 for its rights offering. What is the ex-rights date?

Name: The Tindy Co. has set a record date of Friday, July 22 for its rights offering. What is the ex-rights date?
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The ex-rights date is typically two business days before the record date to account for the standard settlement period in securities transactions. Therefore, with a record date of Friday, July 22, the ex-rights date would be Wednesday, July 20.