- offering
- An issue of securities offered for sale to the public or private group. Securities offerings are generally of two types: primary (proceeds going to the company for some lawful purpose) and secondary (where the funds go to a person other than the company; i.e., selling stockholders).@ primary offeringsPrimary offerings are also termed "new issues" as they involve the issuance of securities not previously offered and sold.@See also- issue- interstate offerings- intrastate offerings- private offerings- public offerings- secondary distribution- secondary offering- underwrite.- offering circular- offering price@ interstate offeringsA public securities offering made or which may be made to residents of more than one state. Such offerings are regulated by federal securities laws and regulations.See also offering@ intrastate offeringsA restricted public securities offering which is made by an issuer organized under the laws of a state, doing its principal business in such state, and offered solely to bona fide residents of such state with substantially all of the proceeds of the offering remaining in the state.See also offering@ private offeringsAn offering made to a limited number of persons, who are so well-informed concerning the affairs of a company, through the possession of information which would be found in a registration statement, that they do not require the protection afforded by the disclosure provisions of the Securities Act of 1933. Sale of unregistered stock which is exempt from securities laws. U. S. v. Custer Channel Wing Corp., D.C.Md., 247 F.Supp. 481, 487.See also private offering.- offering@ public offeringsThe offering of securities at random and in general to anyone who will buy, and whether solicited or unsolicited. Sale of stock to the public in contrast to a "private offering" or private placement. Public offerings are generally regulated by federal and state laws and regulations.See also underwrite- offering@ undigested offeringNewly issued shares and bonds that remain undistributed because there is insufficient public demand at the offer price.See also underwrite- offering@ offering circularAn offering circular is required to be filed with the S.E.C. and distributed with any securities offerings. The content of such is similar to the prospectus (q.v.) and is governed by S.E.C. rules and regulations.See also prospectus- offering@ offering pricePer share price at which new or secondary offering of stock is soldSee also offering@
Black's law dictionary. HENRY CAMPBELL BLACK, M. A.. 1990.