A type of public offering where individually owned businesses suddenly combine their ownership into a new public company. In 1992, I met with several other auto recyclers about such an offering, which is very difficult to complete, and I quickly determined that it was not feasible due to a lack of consistent accounting practices. It’s called a poof offering because on one day you have four private businesses and the next day, following the public offering, poof! You have one new public company. (See also: roll up and consolidation.)
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