A more thorough explanation:

An offering statement is a document that provides information about a private securities offering. It is similar to a prospectus, which is a document that provides information about a public securities offering. The offering statement is also known as an offering circular.

For example, if a company wants to raise money by selling shares of stock to a select group of investors, they may create an offering statement that outlines the details of the offering. The offering statement may include information about the company's financials, the risks associated with investing in the company, and the terms of the offering.

The purpose of the offering statement is to provide potential investors with the information they need to make an informed decision about whether or not to invest in the offering. By providing this information, the company can help ensure that investors understand the risks and benefits of investing in the offering.