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private offering n
: the sale of an issue of securities directly by the issuer to one or a few large investors without any public offering called also private placement compare public offering NOTE: A private offering is exempt from the requirements of filing a registration statement with the Securities and Exchange Commission and distributing prospectuses to potential buyers before the sale.
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.