JLK is a partnership that was formed two years ago and has been extremely successful thus far. The owners have decided to incorporate and offer shares of stock to the general public. What is this type of an equity offering called?

The answer is. initial Public Offering (IPO)

Explanation:

If a firm(like JLK) wants to trade its shares to the public for the first term, it will do so in a process known as Initial Public Offering (IPO).

This process will enable JLK or any other firm to raise capital from the company for the first time. Also, JLK partnership is a private company, this process will make the firm a public company.

answer; the nav calculated at the market close at 4: 00 pm new york time;