Which of the Following Best Describes an Equity Carve-Out

Multiple Choice

Which of the following best describes an equity carve-out?

A) An equity carve-out is not only a spin-out but also a special type of stock traded in the secondary market.
B) An equity carve-out is not only a spin-out but also a special type of IPO that trades in the secondary market.
C) An equity carve-out is not only a spin-out but also a special type of bond traded in the secondary market.
D) An equity carve-out is not only a spin-out but also a special type of IPO.