An alternative public offering (or APO) is a way for businesses to raise money without doing an initial public offering (or IPO). Instead of selling stock to investors, a company can use an APO to offer up bonds, convertible debt, or other securities. This money can be used to fund new projects, invest in new technology, or pay back existing debt. In exchange for the money, the company agrees to give the investors a certain rate of return or promise to pay certain dividends. An APO is a good way for companies to raise money without giving up control of their business.