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Definition of 'Tombstone'

A tombstone is a printed advertisement that announces the closing of a public offering of securities. It typically includes the name of the issuing company, the amount of securities sold, the offering price, and the date of the offering. Tombstones are typically published in financial newspapers and magazines.

The term "tombstone" is derived from the fact that these advertisements often resemble tombstones, with their black borders and large, bold type. Tombstones are used by investment banks to promote their role in the underwriting of a public offering. They are also used by investors to track the progress of public offerings.

Tombstones are typically published after the closing of a public offering. However, some investment banks may publish tombstones before the closing of an offering in order to generate excitement and build demand for the securities.

Tombstones are an important part of the public offering process. They provide investors with information about the offering and help to promote the securities.

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