Lyso-PAF C-16 can be formed by either the action of PAF-AH on PAF C-16, or by the action of a CoA-independent transacylase on 1-O-hexadecyl-2-acyl-glycerophosphocholine. Lyso-PAF C-16 is a substrate for either PAF C-16 formation by the remodeling pathway or selective acylation with arachidonic acid by a CoA-independent transacylase.