私募
Private Placement
指向小规模数量的投资者（通常35个以下）出售股票，此方式可以免除如在美国证券交易委员会（SEC）的注册程序。投资者要签署一份投资书声明，购买目的是投资而不是为了再次出售。
The sale of securities to a small group of investors （generally 35 or fewer） which is exempt from SEC registration requirements. The investors execute an investment letter stating that the securities are being purchased for investment without a view towards distribution.
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