A public offering is an offering of a company’s securities to public markets. A company’s first offering of securities to the public is known as an initial public offering (IPO). Subsequent offerings are known as follow-on offerings. In both cases, Congress and the Securities and Exchange Commission (SEC) regulate the process through which companies conduct a public offering. Compare with private placement, which are securities not offered to the public.
[Last updated in February of 2022 by the Wex Definitions Team]