Private Placement Memorandum
Disclosure document for private investors.
Detailed Explanation
A Private Placement Memorandum (PPM) is a legal document provided to prospective investors when selling stock or another security in a business. It describes the company selling the securities, the terms of the offering, and the risks of the investment. A PPM is used in private transactions to comply with securities regulations (like Regulation D in the US) without registering with the SEC.