$1.$ What are the common reasons for a private firm to go public? What are the advantages and disadvantages of doing so$?$ Be specific.

$2.$ Discuss the pros and cons of a reverse merger versus an IPO.

$3.$ What is the purpose of a private firm wanting to be listed on a major stock exchange such as Nasdaq?

$4.$ What is a shell corporation? Which firm is the shell corporation $($Versartis or Aravive$)$ in the case study? Why is it misleading to call Versartis the acquirer and Aravive the target firm?

$5.$ What are the auditing challenges associated with reverse mergers? How can investors protect themselves from the liabilities that may be contained in corporate shells?