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What are some of the advantage of a PIPE transaction?
A PIPE transaction offers several significant advantages for an issuer, including:
• lowering transaction expenses;
• expanding institutional and accredited investor holdings;
• for fixed price transactions, reducing the incentive for investors to hedge their commitment by shorting the issuer’s stock;
• requiring disclosure of the transaction to the public only after definitive purchase commitments are received from investors;
• requiring preparation by the investor only of very streamlined information, including publicly filed Exchange Act reports; and
• enabling a transaction to close and fund within seven to ten days of receiving definitive purchase commitments.

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