[...] party costs alone can exceed $300,000 per year, even for small companies. In an IPO, an investment bank guides the company through filing regulatory paperwork, helps authorities review the deal and underwrites and issues shares. [...] much of the risk of angry shareholders can be eliminated by finding a shell that has been a shell for the past 10 to 20 years, where shareholders will be delighted to finally be merging with an operating company with strong prospects and potential share price appreciation.
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