Short answer, no. The fundamental reason goes back to 1933/1934 when the modern rules of public offerings were enacted. To avoid investors being fleeced by unscrupulous business owners that falsely advertised the merits of their businesses, stringent rules were put in place for any offering of stock to the public. These rules continue to govern the behavior of publicly traded companies today. As a result of these regulations, stocks cannot be offered to a mass audience without those offering falling under the regulation of the SEC. Exceptions are made for small numbers (<99) of Accredited Investors ($250K annual income or > $1M liquid net worth, or something close to that), and others close to the company. In short, a company cannot offer its stock broadly to the public without complying with the fairly onerous SEC provisions regulating public companies.