Red Herring

Definition of "Red herring"

Sue Pittullo
  Coldwell Banker Rox Realty

Slang reference for a preliminary prospectus that outlines the important aspects of a
new issue securities for a real estate company, partnership, or investment trust. This prospectus
contains no selling price information or offering date. It is so named because of the red-ink
statement on the first page instructing the reader that the document is not an official offer to
sell the securities.

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