Vendor placing
From ACT Wiki
Corporate finance - placings.
The placement of securities that have been allotted as consideration to the vendors of a business in a share-for-share exchange, in order to enable those vendors to receive cash payment (from the institutional investor with whom the securities are placed).
The allotment of shares to the vendors of the business is often coupled with an arrangement to sell them to institutional investors (so that the vendor receives cash).
