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38t, not really, you stated the u/w would buy them. That implies they pay the holder something for them, which is definitely not the case. Nor is there any certainty the the u/w will have to do anything anyway. If enough holders take up the surplus from those not exercising the rights, the u/w don't get involved at all.

If not taken up - the options lapse. If you do nothing with your options, the underwriters WILL NOT buy them.