Question: 3) Many hi-tech firms which seek external financing first do so with a private placement of common stock, followed by public initial public offerings (IPO)

 3) Many hi-tech firms which seek external financing first do so

3) Many hi-tech firms which seek external financing first do so with a private placement of common stock, followed by public initial public offerings (IPO) of stock. Debt is typically never issued. Why do you think that is

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