Public Offering

Definition:

In contrast with direct listings, a Public Offering is an offering of debt or equity securities by an issuer to the public for the purpose of raising funds or conducting business expansion. Public Offerings are usually conducted by an underwriter and, if conducted in the United States, require registration under the Securities Act and a declaration by the SEC that the Registration Statement is effective.

A Prospectus relating to a Public Offering to residents of EU Member States must be filed with and approved by the relevant Member State securities regulatory authority, absent an exemption from such requirements under the EU Prospectus Regulation.

A Prospectus relating to a Public Offering to residents of the United Kingdom must be filed with and approved by the Financial Conduct Authority (FCA), absent an exemption from such requirements under the UK Prospectus Regulation.

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