offering


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Offering

1. An issue of stock by a publicly-traded company. A company makes an offering through underwriters, who have the responsibility to place the offering with individual and institutional investors. Companies make offerings in order to raise financing for expanded operations, though occasionally they make offerings because they have become cash poor and need assistance to maintain current operations. The offerings themselves give investors a portion of ownership in the company issuing them. The first public offering a company issues is called an initial public offering, and marks the point when a company ceases to be privately held and becomes publicly traded.

2. An issue of bonds. A company or government makes an offering through underwriters, who have the responsibility to place the offering with individual and institutional investors. Companies and governments make offerings in order to raise financing for expanded operations, though occasionally they make offerings because they have become cash poor and need assistance to maintain current operations. The bonds themselves represent debt that the company or government owes the investor.

offering

References in periodicals archive ?
A mutual company, which by definition cannot issue stock, can issue debt securities or surplus notes in a Rule 144A offering.
For all these and other nonpublic insurers, Rule 144A effectively provides a vehicle to issue debt securities in a private offering to a broad range of institutional investors simultaneously without undertaking a public offering and without the attendant SEC review and post-offering ongoing disclosure requirements, but at the same time achieving better execution and liquidity than are generally available in private placements to a limited number of investors.
Investors are not directly involved in the process; terms of the offering are negotiated between the company and the initial purchasers.
A Rule 144A offering by a mutual or other nonpublic company (for example, the wholly owned subsidiary of a public company or a mutual holding company) will create the need for due diligence and disclosure that may be more extensive than what the company has previously undergone in prior capital-raising via private placements or institutional lending.
Like securities offerings generally; a Rule 144A offering is subject to the anti-fraud requirements of the securities laws, and, accordingly, all disclosure materials used to market the transaction must be materially accurate and complete.
These include statements regarding the proposed timing of the offering.
The offering is made only by the prospectus and the prospectus supplement.
When available, prospectus supplements relating to the proposed offerings may be obtained from: Citigroup Corporate and Investment Banking, Attn: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, (718) 765-6732.
A prospectus related to the exchange offer and the new money offering, and a letter of transmittal and other materials related to the exchange offer, are available free of charge from the information agent, Georgeson Shareholder Communications Inc.
A tender offer statement, registration statements (and the prospectus included therein), a related letter of transmittal and other offering documents relating to these securities have been filed with the Securities and Exchange Commission but the registration statements have not yet become effective.