$1.$ You own all $$10$ million of equity in a private company and have decided to go public. You want to raise enough IPO proceeds to finance a $$25$ million project and you want to cash out $$5$ million of your stake. Assuming the share price is $$10$ per share, how many primary and how many secondary shares should you offer in the IPO? What percentage of the company$$s equity will you own post$-$IPO?

$2.$ Your friend tells you that the only reason firms ever go public is so that CEOs can sell their stake. Why is it easier for a CEO to sell their stake post$-$IPO? What other reasons are there for firms to public?

$3.$ Describe the concept of underwriter certification, what characteristics of an underwriter may make this more effective and why can$$t an issuer effectively certify their own offering?

$4.$ a$.$ What are the stages of municipal securities issuance, how much time does it take to go through each stage, and why?

b$.$ What are the most important considerations governments need to be aware of when issuing municipal bonds?

c$.$ What are the key financial intermediaries state and local governments can rely on during the municipal bond issuance process and what are they responsible for?

d$.$ What regulators oversee the municipal bond market in the United States? What is the breadth and scope of such regulation?