An offering (secondary offering) of common stock that a company had issued in the past (by means of an initial public offering or IPO). The common stock is sold in the secondary market– that is, it is a stock already issued and is re-offered in a formal public offering.
This type of offering is usually carried out by resellers such as venture capitalists, entrepreneurs, early-stage investors, and so on. The proceeds of sale do not go to the issuing company, but rather to resellers who are the owners/ holders of the stock being sold.
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