The case provides opportunities for the instructor to develop any of the following teaching objectives: 1. Review the institutional aspects of the equity issuance transaction. 2. Explore the costs and benefits associated with public share offerings. 3. Develop an appreciation for the challenges of valuing unseasoned firms. 4. Hone corporate valuation skills, particularly using market multiples. 5. Evaluate the received explanations of various finance anomalies, such as the IPO underpricing phenomenon.