> companies who want the benefits of being public - access to capital as they need it While traditionally this is the purpose of IPO's and secondary stock issu

> companies who want the benefits of being public - access to capital as they need it While traditionally this is the purpose of IPO's and secondary stock issuances, if you look at corporate financing in 2015, this has become such a miniscule percentage of how capital is raised, even for public companies, that it is almost irrelevant. So the standard reason given for a stock issuance, raising money, is really no longer the reason for stock issuance.