What Is a Placement?
A placement is the sale of securities to a small number of private investors that is exempt from registration with the Securities and Exchange Commission under Regulation D, as are fixed annuities. This exemption makes a placement a less expensive way for a company to raise capital compared with a public offering. A formal prospectus is not necessary for a private placement, and the participants in a private placement are usually large, sophisticated investors such as investment banks, investment funds, and insurance companies.
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source: https://www.investopedia.com/terms/p/placement.asp
