QUESTIONS

Exits are ultimately how private equity firms realize returns on their investments. Describe the various

ways for a private equity firm to exit an investment.

What are some of the key considerations in determining whether to take a company public $($IPO$)?$

What are some of the possible explanations for why acquisitions account for a greater percent of exits

than IPOs?

What are some of the characteristics of a private company that may increase the likelihood of a public

market exit?

What are some of the characteristics of a private company that may prevent it from going public?

Why might the pursuit of an IPO elicit higher interest and$/$or offers from strategic acquirers?

What are some of the key advantages of being a public company? What are the disadvantages?

Why would a public company prefer institutional holders to comprise a large portion of their investor

base? Who is responsible for attracting these investors?

Explain the phenomenon of underpricing as it relates to IPOs.

What is a "Greenshoe" and why does it exist?

What is a possible explanation for why a VC$-$backed IPO outperformed the market after its IPO for

several years?

What purpose does a corporate VC serve? What are the potential advantages?

What are some of the reasons for avoiding an auction process?

What are some of the potential issues associated with a sponsor$-$to$-$sponsor $($secondary buyout$)$

transaction?

Under which circumstances might it make the most sense to shut down a distressed business rather than

inject additional capital or engage in a sale process?

What are some of the key issues with distributing stock directly to LPs in conjunction with an IPO?

What would LPs prefer?