The combination of a reverse merger and PIPE is powerful: many private companies face challenges raising capital while private yet without that capital they cannot grow to a size that would allow them to become public.  The alternative public offering addresses this conundrum by providing private companies with access to the public markets and a greater ability to attract capital.  Once public, these companies can raise capital through a PIPE, the issuance of additional stock in a secondary offering or the exercise of warrants by shareholders seeking to purchase additional shares.