id	sid	tid	token	lemma	pos
cblr-1695	1	1	going	go	VERB
cblr-1695	1	2	public	public	ADJ
cblr-1695	1	3	secretly	secretly	ADV
cblr-1695	1	4	:	:	PUNCT
cblr-1695	1	5	the	the	DET
cblr-1695	1	6	sec	sec	PROPN
cblr-1695	1	7	’s	’s	PART
cblr-1695	1	8	unavailing	unavailing	ADJ
cblr-1695	1	9	effort	effort	NOUN
cblr-1695	1	10	to	to	PART
cblr-1695	1	11	increase	increase	VERB
cblr-1695	1	12	initial	initial	ADJ
cblr-1695	1	13	public	public	ADJ
cblr-1695	1	14	offerings	offering	NOUN
cblr-1695	1	15	through	through	ADP
cblr-1695	1	16	confidential	confidential	ADJ
cblr-1695	1	17	registration	registration	NOUN
cblr-1695	1	18	patrick	patrick	PROPN
cblr-1695	1	19	j.	j.	PROPN
cblr-1695	1	20	gallagher	gallagher	PROPN
cblr-1695	1	21	*	*	PROPN
cblr-1695	1	22	in	in	ADP
cblr-1695	1	23	an	an	DET
cblr-1695	1	24	effort	effort	NOUN
cblr-1695	1	25	to	to	PART
cblr-1695	1	26	reverse	reverse	VERB
cblr-1695	1	27	the	the	DET
cblr-1695	1	28	declining	decline	VERB
cblr-1695	1	29	number	number	NOUN
cblr-1695	1	30	of	of	ADP
cblr-1695	1	31	ipos	ipos	NOUN
cblr-1695	1	32	seen	see	VERB
cblr-1695	1	33	over	over	ADP
cblr-1695	1	34	the	the	DET
cblr-1695	1	35	past	past	ADJ
cblr-1695	1	36	two	two	NUM
cblr-1695	1	37	decades	decade	NOUN
cblr-1695	1	38	,	,	PUNCT
cblr-1695	1	39	newly	newly	ADV
cblr-1695	1	40	-	-	PUNCT
cblr-1695	1	41	appointed	appoint	VERB
cblr-1695	1	42	sec	sec	PROPN
cblr-1695	1	43	chairman	chairman	NOUN
cblr-1695	1	44	jay	jay	PROPN
cblr-1695	1	45	clayton	clayton	PROPN
cblr-1695	1	46	announced	announce	VERB
cblr-1695	1	47	in	in	ADP
cblr-1695	1	48	mid-2017	mid-2017	NOUN
cblr-1695	1	49	that	that	PRON
cblr-1695	1	50	any	any	DET
cblr-1695	1	51	company	company	NOUN
cblr-1695	1	52	seeking	seek	VERB
cblr-1695	1	53	to	to	PART
cblr-1695	1	54	go	go	VERB
cblr-1695	1	55	public	public	ADJ
cblr-1695	1	56	could	could	AUX
cblr-1695	1	57	now	now	ADV
cblr-1695	1	58	initially	initially	ADV
cblr-1695	1	59	file	file	VERB
cblr-1695	1	60	its	its	PRON
cblr-1695	1	61	registration	registration	NOUN
cblr-1695	1	62	statement	statement	NOUN
cblr-1695	1	63	confidentially	confidentially	ADV
cblr-1695	1	64	rather	rather	ADV
cblr-1695	1	65	than	than	ADP
cblr-1695	1	66	publicly	publicly	ADV
cblr-1695	1	67	.	.	PUNCT
cblr-1695	2	1	this	this	DET
cblr-1695	2	2	announcement	announcement	NOUN
cblr-1695	2	3	effectively	effectively	ADV
cblr-1695	2	4	extended	extend	VERB
cblr-1695	2	5	a	a	DET
cblr-1695	2	6	policy	policy	NOUN
cblr-1695	2	7	that	that	PRON
cblr-1695	2	8	had	have	AUX
cblr-1695	2	9	originally	originally	ADV
cblr-1695	2	10	only	only	ADV
cblr-1695	2	11	applied	apply	VERB
cblr-1695	2	12	to	to	ADP
cblr-1695	2	13	emerging	emerge	VERB
cblr-1695	2	14	growth	growth	NOUN
cblr-1695	2	15	companies	company	NOUN
cblr-1695	2	16	—	—	PUNCT
cblr-1695	2	17	firms	firm	NOUN
cblr-1695	2	18	with	with	ADP
cblr-1695	2	19	less	less	ADJ
cblr-1695	2	20	than	than	ADP
cblr-1695	2	21	$	$	SYM
cblr-1695	2	22	1.07	1.07	NUM
cblr-1695	2	23	billion	billion	NUM
cblr-1695	2	24	in	in	ADP
cblr-1695	2	25	revenue	revenue	NOUN
cblr-1695	2	26	during	during	ADP
cblr-1695	2	27	their	their	PRON
cblr-1695	2	28	last	last	ADJ
cblr-1695	2	29	fiscal	fiscal	ADJ
cblr-1695	2	30	year	year	NOUN
cblr-1695	2	31	—	—	PUNCT
cblr-1695	2	32	to	to	ADP
cblr-1695	2	33	larger	large	ADJ
cblr-1695	2	34	companies	company	NOUN
cblr-1695	2	35	.	.	PUNCT
cblr-1695	3	1	because	because	SCONJ
cblr-1695	3	2	there	there	PRON
cblr-1695	3	3	are	be	VERB
cblr-1695	3	4	advantages	advantage	NOUN
cblr-1695	3	5	to	to	PART
cblr-1695	3	6	confidentially	confidentially	ADV
cblr-1695	3	7	filing	file	VERB
cblr-1695	3	8	a	a	DET
cblr-1695	3	9	registration	registration	NOUN
cblr-1695	3	10	statement	statement	NOUN
cblr-1695	3	11	,	,	PUNCT
cblr-1695	3	12	this	this	DET
cblr-1695	3	13	new	new	ADJ
cblr-1695	3	14	policy	policy	NOUN
cblr-1695	3	15	was	be	AUX
cblr-1695	3	16	meant	mean	VERB
cblr-1695	3	17	to	to	PART
cblr-1695	3	18	encourage	encourage	VERB
cblr-1695	3	19	more	more	ADJ
cblr-1695	3	20	large	large	ADJ
cblr-1695	3	21	firms	firm	NOUN
cblr-1695	3	22	to	to	PART
cblr-1695	3	23	go	go	VERB
cblr-1695	3	24	public	public	ADJ
cblr-1695	3	25	and	and	CCONJ
cblr-1695	3	26	,	,	PUNCT
cblr-1695	3	27	as	as	ADP
cblr-1695	3	28	a	a	DET
cblr-1695	3	29	result	result	NOUN
cblr-1695	3	30	,	,	PUNCT
cblr-1695	3	31	increase	increase	VERB
cblr-1695	3	32	the	the	DET
cblr-1695	3	33	overall	overall	ADJ
cblr-1695	3	34	number	number	NOUN
cblr-1695	3	35	of	of	ADP
cblr-1695	3	36	ipos	ipos	NOUN
cblr-1695	3	37	.	.	PUNCT
cblr-1695	4	1	this	this	DET
cblr-1695	4	2	note	note	NOUN
cblr-1695	4	3	empirically	empirically	ADV
cblr-1695	4	4	examines	examine	VERB
cblr-1695	4	5	the	the	DET
cblr-1695	4	6	effect	effect	NOUN
cblr-1695	4	7	of	of	ADP
cblr-1695	4	8	this	this	DET
cblr-1695	4	9	policy	policy	NOUN
cblr-1695	4	10	change	change	NOUN
cblr-1695	4	11	over	over	ADP
cblr-1695	4	12	the	the	DET
cblr-1695	4	13	course	course	NOUN
cblr-1695	4	14	of	of	ADP
cblr-1695	4	15	its	its	PRON
cblr-1695	4	16	first	first	ADJ
cblr-1695	4	17	year	year	NOUN
cblr-1695	4	18	to	to	PART
cblr-1695	4	19	analyze	analyze	VERB
cblr-1695	4	20	whether	whether	SCONJ
cblr-1695	4	21	it	it	PRON
cblr-1695	4	22	has	have	AUX
cblr-1695	4	23	succeeded	succeed	VERB
cblr-1695	4	24	in	in	ADP
cblr-1695	4	25	effectuating	effectuate	VERB
cblr-1695	4	26	more	more	ADJ
cblr-1695	4	27	ipos	ipos	NOUN
cblr-1695	4	28	in	in	ADP
cblr-1695	4	29	the	the	DET
cblr-1695	4	30	marketplace	marketplace	NOUN
cblr-1695	4	31	.	.	PUNCT
cblr-1695	5	1	the	the	DET
cblr-1695	5	2	data	datum	NOUN
cblr-1695	5	3	suggest	suggest	VERB
cblr-1695	5	4	that	that	SCONJ
cblr-1695	5	5	this	this	DET
cblr-1695	5	6	new	new	ADJ
cblr-1695	5	7	policy	policy	NOUN
cblr-1695	5	8	has	have	AUX
cblr-1695	5	9	failed	fail	VERB
cblr-1695	5	10	.	.	PUNCT
cblr-1695	6	1	and	and	CCONJ
cblr-1695	6	2	because	because	SCONJ
cblr-1695	6	3	it	it	PRON
cblr-1695	6	4	affects	affect	VERB
cblr-1695	6	5	a	a	DET
cblr-1695	6	6	relatively	relatively	ADV
cblr-1695	6	7	small	small	ADJ
cblr-1695	6	8	number	number	NOUN
cblr-1695	6	9	of	of	ADP
cblr-1695	6	10	firms	firm	NOUN
cblr-1695	6	11	,	,	PUNCT
cblr-1695	6	12	it	it	PRON
cblr-1695	6	13	will	will	AUX
cblr-1695	6	14	likely	likely	ADV
cblr-1695	6	15	continue	continue	VERB
cblr-1695	6	16	to	to	PART
cblr-1695	6	17	fail	fail	VERB
cblr-1695	6	18	to	to	PART
cblr-1695	6	19	meaningfully	meaningfully	ADV
cblr-1695	6	20	increase	increase	VERB
cblr-1695	6	21	the	the	DET
cblr-1695	6	22	number	number	NOUN
cblr-1695	6	23	of	of	ADP
cblr-1695	6	24	ipos	ipos	NOUN
cblr-1695	6	25	.	.	PUNCT
cblr-1695	7	1	this	this	DET
cblr-1695	7	2	note	note	NOUN
cblr-1695	7	3	argues	argue	VERB
cblr-1695	7	4	that	that	SCONJ
cblr-1695	7	5	in	in	ADP
cblr-1695	7	6	order	order	NOUN
cblr-1695	7	7	to	to	PART
cblr-1695	7	8	encourage	encourage	VERB
cblr-1695	7	9	more	more	ADJ
cblr-1695	7	10	companies	company	NOUN
cblr-1695	7	11	to	to	PART
cblr-1695	7	12	go	go	VERB
cblr-1695	7	13	public	public	ADJ
cblr-1695	7	14	,	,	PUNCT
cblr-1695	7	15	the	the	DET
cblr-1695	7	16	sec	sec	PROPN
cblr-1695	7	17	and	and	CCONJ
cblr-1695	7	18	congress	congress	PROPN
cblr-1695	7	19	must	must	AUX
cblr-1695	7	20	stop	stop	VERB
cblr-1695	7	21	focusing	focus	VERB
cblr-1695	7	22	on	on	ADP
cblr-1695	7	23	changes	change	NOUN
cblr-1695	7	24	to	to	ADP
cblr-1695	7	25	the	the	DET
cblr-1695	7	26	process	process	NOUN
cblr-1695	7	27	of	of	ADP
cblr-1695	7	28	going	go	VERB
cblr-1695	7	29	public	public	ADJ
cblr-1695	7	30	and	and	CCONJ
cblr-1695	7	31	instead	instead	ADV
cblr-1695	7	32	make	make	VERB
cblr-1695	7	33	being	be	AUX
cblr-1695	7	34	a	a	DET
cblr-1695	7	35	public	public	ADJ
cblr-1695	7	36	company	company	NOUN
cblr-1695	7	37	more	more	ADV
cblr-1695	7	38	attractive	attractive	ADJ
cblr-1695	7	39	to	to	ADP
cblr-1695	7	40	both	both	CCONJ
cblr-1695	7	41	smaller	small	ADJ
cblr-1695	7	42	firms	firm	NOUN
cblr-1695	7	43	,	,	PUNCT
cblr-1695	7	44	which	which	PRON
cblr-1695	7	45	*	*	PUNCT
cblr-1695	7	46	j.d	j.d	PROPN
cblr-1695	7	47	.	.	PROPN
cblr-1695	7	48	candidate	candidate	NOUN
cblr-1695	7	49	2019	2019	NUM
cblr-1695	7	50	,	,	PUNCT
cblr-1695	7	51	columbia	columbia	PROPN
cblr-1695	7	52	law	law	PROPN
cblr-1695	7	53	school	school	NOUN
cblr-1695	7	54	;	;	PUNCT
cblr-1695	7	55	b.a	b.a	PROPN
cblr-1695	7	56	.	.	PROPN
cblr-1695	7	57	2013	2013	NUM
cblr-1695	7	58	,	,	PUNCT
cblr-1695	7	59	boston	boston	PROPN
cblr-1695	7	60	college	college	PROPN
cblr-1695	7	61	.	.	PUNCT
cblr-1695	8	1	my	my	PRON
cblr-1695	8	2	deepest	deep	ADJ
cblr-1695	8	3	thanks	thank	NOUN
cblr-1695	8	4	to	to	ADP
cblr-1695	8	5	professor	professor	PROPN
cblr-1695	8	6	eric	eric	PROPN
cblr-1695	8	7	talley	talley	PROPN
cblr-1695	8	8	for	for	ADP
cblr-1695	8	9	his	his	PRON
cblr-1695	8	10	incredible	incredible	ADJ
cblr-1695	8	11	guidance	guidance	NOUN
cblr-1695	8	12	in	in	ADP
cblr-1695	8	13	writing	write	VERB
cblr-1695	8	14	this	this	DET
cblr-1695	8	15	note	note	NOUN
cblr-1695	8	16	.	.	PUNCT
cblr-1695	9	1	additional	additional	ADJ
cblr-1695	9	2	thanks	thank	NOUN
cblr-1695	9	3	to	to	ADP
cblr-1695	9	4	daniel	daniel	PROPN
cblr-1695	9	5	feder	feder	PROPN
cblr-1695	9	6	,	,	PUNCT
cblr-1695	9	7	sung	sung	PROPN
cblr-1695	9	8	bin	bin	PROPN
cblr-1695	9	9	lee	lee	PROPN
cblr-1695	9	10	,	,	PUNCT
cblr-1695	9	11	and	and	CCONJ
cblr-1695	9	12	samuel	samuel	PROPN
cblr-1695	9	13	sullivan	sullivan	PROPN
cblr-1695	9	14	for	for	ADP
cblr-1695	9	15	helpful	helpful	ADJ
cblr-1695	9	16	comments	comment	NOUN
cblr-1695	9	17	.	.	PUNCT
cblr-1695	10	1	thank	thank	VERB
cblr-1695	10	2	you	you	PRON
cblr-1695	10	3	also	also	ADV
cblr-1695	10	4	to	to	ADP
cblr-1695	10	5	the	the	DET
cblr-1695	10	6	entire	entire	ADJ
cblr-1695	10	7	editorial	editorial	ADJ
cblr-1695	10	8	board	board	NOUN
cblr-1695	10	9	and	and	CCONJ
cblr-1695	10	10	staff	staff	NOUN
cblr-1695	10	11	of	of	ADP
cblr-1695	10	12	the	the	DET
cblr-1695	10	13	columbia	columbia	PROPN
cblr-1695	10	14	business	business	PROPN
cblr-1695	10	15	law	law	PROPN
cblr-1695	10	16	review	review	NOUN
cblr-1695	10	17	for	for	ADP
cblr-1695	10	18	their	their	PRON
cblr-1695	10	19	dedication	dedication	NOUN
cblr-1695	10	20	and	and	CCONJ
cblr-1695	10	21	help	help	NOUN
cblr-1695	10	22	in	in	ADP
cblr-1695	10	23	preparing	prepare	VERB
cblr-1695	10	24	this	this	DET
cblr-1695	10	25	note	note	NOUN
cblr-1695	10	26	for	for	ADP
cblr-1695	10	27	publication	publication	NOUN
cblr-1695	10	28	.	.	PUNCT
cblr-1695	11	1	finally	finally	ADV
cblr-1695	11	2	,	,	PUNCT
cblr-1695	11	3	thank	thank	VERB
cblr-1695	11	4	you	you	PRON
cblr-1695	11	5	to	to	ADP
cblr-1695	11	6	my	my	PRON
cblr-1695	11	7	parents	parent	NOUN
cblr-1695	11	8	,	,	PUNCT
cblr-1695	11	9	my	my	PRON
cblr-1695	11	10	sisters	sister	NOUN
cblr-1695	11	11	megan	megan	PROPN
cblr-1695	11	12	and	and	CCONJ
cblr-1695	11	13	ellen	ellen	PROPN
cblr-1695	11	14	,	,	PUNCT
cblr-1695	11	15	and	and	CCONJ
cblr-1695	11	16	my	my	PRON
cblr-1695	11	17	aunt	aunt	NOUN
cblr-1695	11	18	noreen	noreen	PROPN
cblr-1695	11	19	for	for	ADP
cblr-1695	11	20	their	their	PRON
cblr-1695	11	21	unwavering	unwavering	ADJ
cblr-1695	11	22	love	love	NOUN
cblr-1695	11	23	and	and	CCONJ
cblr-1695	11	24	support	support	NOUN
cblr-1695	11	25	.	.	PUNCT
cblr-1695	12	1	306	306	NUM
cblr-1695	12	2	columbia	columbia	PROPN
cblr-1695	12	3	business	business	NOUN
cblr-1695	12	4	law	law	PROPN
cblr-1695	12	5	review	review	NOUN
cblr-1695	13	1	[	[	X
cblr-1695	13	2	vol	vol	NOUN
cblr-1695	13	3	.	.	PUNCT
cblr-1695	13	4	2019	2019	NUM
cblr-1695	13	5	have	have	VERB
cblr-1695	13	6	the	the	DET
cblr-1695	13	7	potential	potential	NOUN
cblr-1695	13	8	to	to	PART
cblr-1695	13	9	increase	increase	VERB
cblr-1695	13	10	the	the	DET
cblr-1695	13	11	number	number	NOUN
cblr-1695	13	12	of	of	ADP
cblr-1695	13	13	ipos	ipos	NOUN
cblr-1695	13	14	,	,	PUNCT
cblr-1695	13	15	and	and	CCONJ
cblr-1695	13	16	larger	large	ADJ
cblr-1695	13	17	firms	firm	NOUN
cblr-1695	13	18	,	,	PUNCT
cblr-1695	13	19	which	which	PRON
cblr-1695	13	20	can	can	AUX
cblr-1695	13	21	drastically	drastically	ADV
cblr-1695	13	22	increase	increase	VERB
cblr-1695	13	23	the	the	DET
cblr-1695	13	24	amount	amount	NOUN
cblr-1695	13	25	of	of	ADP
cblr-1695	13	26	overall	overall	ADJ
cblr-1695	13	27	public	public	ADJ
cblr-1695	13	28	capital	capital	NOUN
cblr-1695	13	29	raised	raise	VERB
cblr-1695	13	30	—	—	PUNCT
cblr-1695	13	31	another	another	DET
cblr-1695	13	32	necessary	necessary	ADJ
cblr-1695	13	33	metric	metric	NOUN
cblr-1695	13	34	in	in	ADP
cblr-1695	13	35	evaluating	evaluate	VERB
cblr-1695	13	36	the	the	DET
cblr-1695	13	37	success	success	NOUN
cblr-1695	13	38	of	of	ADP
cblr-1695	13	39	the	the	DET
cblr-1695	13	40	ipo	ipo	NOUN
cblr-1695	13	41	market	market	NOUN
cblr-1695	13	42	.	.	PUNCT
cblr-1695	14	1	in	in	ADP
cblr-1695	14	2	recent	recent	ADJ
cblr-1695	14	3	years	year	NOUN
cblr-1695	14	4	,	,	PUNCT
cblr-1695	14	5	benefits	benefit	NOUN
cblr-1695	14	6	granted	grant	VERB
cblr-1695	14	7	to	to	ADP
cblr-1695	14	8	private	private	ADJ
cblr-1695	14	9	capital	capital	NOUN
cblr-1695	14	10	markets	market	NOUN
cblr-1695	14	11	have	have	AUX
cblr-1695	14	12	enabled	enable	VERB
cblr-1695	14	13	them	they	PRON
cblr-1695	14	14	to	to	PART
cblr-1695	14	15	flourish	flourish	VERB
cblr-1695	14	16	as	as	ADP
cblr-1695	14	17	viable	viable	ADJ
cblr-1695	14	18	alternatives	alternative	NOUN
cblr-1695	14	19	to	to	ADP
cblr-1695	14	20	the	the	DET
cblr-1695	14	21	public	public	ADJ
cblr-1695	14	22	markets	market	NOUN
cblr-1695	14	23	.	.	PUNCT
cblr-1695	15	1	this	this	PRON
cblr-1695	15	2	has	have	AUX
cblr-1695	15	3	led	lead	VERB
cblr-1695	15	4	to	to	ADP
cblr-1695	15	5	greater	great	ADJ
cblr-1695	15	6	societal	societal	ADJ
cblr-1695	15	7	inequality	inequality	NOUN
cblr-1695	15	8	since	since	SCONJ
cblr-1695	15	9	average	average	ADJ
cblr-1695	15	10	investors	investor	NOUN
cblr-1695	15	11	are	be	AUX
cblr-1695	15	12	often	often	ADV
cblr-1695	15	13	shut	shut	VERB
cblr-1695	15	14	out	out	ADP
cblr-1695	15	15	from	from	ADP
cblr-1695	15	16	private	private	ADJ
cblr-1695	15	17	investments	investment	NOUN
cblr-1695	15	18	,	,	PUNCT
cblr-1695	15	19	such	such	ADJ
cblr-1695	15	20	as	as	ADP
cblr-1695	15	21	venture	venture	NOUN
cblr-1695	15	22	capital	capital	NOUN
cblr-1695	15	23	and	and	CCONJ
cblr-1695	15	24	private	private	ADJ
cblr-1695	15	25	equity	equity	NOUN
cblr-1695	15	26	.	.	PUNCT
cblr-1695	16	1	therefore	therefore	ADV
cblr-1695	16	2	,	,	PUNCT
cblr-1695	16	3	this	this	DET
cblr-1695	16	4	note	note	NOUN
cblr-1695	16	5	argues	argue	VERB
cblr-1695	16	6	that	that	SCONJ
cblr-1695	16	7	in	in	ADP
cblr-1695	16	8	order	order	NOUN
cblr-1695	16	9	to	to	PART
cblr-1695	16	10	save	save	VERB
cblr-1695	16	11	the	the	DET
cblr-1695	16	12	public	public	ADJ
cblr-1695	16	13	markets	market	NOUN
cblr-1695	16	14	,	,	PUNCT
cblr-1695	16	15	benefits	benefit	NOUN
cblr-1695	16	16	awarded	award	VERB
cblr-1695	16	17	to	to	ADP
cblr-1695	16	18	private	private	ADJ
cblr-1695	16	19	capital	capital	NOUN
cblr-1695	16	20	must	must	AUX
cblr-1695	16	21	be	be	AUX
cblr-1695	16	22	reduced	reduce	VERB
cblr-1695	16	23	.	.	PUNCT
cblr-1695	17	1	in	in	ADP
cblr-1695	17	2	addition	addition	NOUN
cblr-1695	17	3	,	,	PUNCT
cblr-1695	17	4	this	this	DET
cblr-1695	17	5	note	note	NOUN
cblr-1695	17	6	presents	present	VERB
cblr-1695	17	7	new	new	ADJ
cblr-1695	17	8	proposals	proposal	NOUN
cblr-1695	17	9	to	to	PART
cblr-1695	17	10	further	far	ADV
cblr-1695	17	11	mitigate	mitigate	VERB
cblr-1695	17	12	the	the	DET
cblr-1695	17	13	structural	structural	ADJ
cblr-1695	17	14	realities	reality	NOUN
cblr-1695	17	15	that	that	PRON
cblr-1695	17	16	incentivize	incentivize	VERB
cblr-1695	17	17	companies	company	NOUN
cblr-1695	17	18	to	to	PART
cblr-1695	17	19	remain	remain	VERB
cblr-1695	17	20	private	private	ADJ
cblr-1695	17	21	and	and	CCONJ
cblr-1695	17	22	,	,	PUNCT
cblr-1695	17	23	instead	instead	ADV
cblr-1695	17	24	,	,	PUNCT
cblr-1695	17	25	encourage	encourage	VERB
cblr-1695	17	26	them	they	PRON
cblr-1695	17	27	to	to	PART
cblr-1695	17	28	go	go	VERB
cblr-1695	17	29	public	public	ADJ
cblr-1695	17	30	:	:	PUNCT
cblr-1695	17	31	(	(	PUNCT
cblr-1695	17	32	1	1	X
cblr-1695	17	33	)	)	PUNCT
cblr-1695	17	34	award	award	NOUN
cblr-1695	17	35	firms	firm	NOUN
cblr-1695	17	36	that	that	PRON
cblr-1695	17	37	go	go	VERB
cblr-1695	17	38	public	public	ADJ
cblr-1695	17	39	temporary	temporary	ADJ
cblr-1695	17	40	exemptions	exemption	NOUN
cblr-1695	17	41	from	from	ADP
cblr-1695	17	42	burdensome	burdensome	ADJ
cblr-1695	17	43	regulations	regulation	NOUN
cblr-1695	17	44	that	that	PRON
cblr-1695	17	45	apply	apply	VERB
cblr-1695	17	46	to	to	ADP
cblr-1695	17	47	public	public	ADJ
cblr-1695	17	48	companies	company	NOUN
cblr-1695	17	49	,	,	PUNCT
cblr-1695	17	50	such	such	ADJ
cblr-1695	17	51	as	as	ADP
cblr-1695	17	52	the	the	DET
cblr-1695	17	53	sarbanes	sarbanes	PROPN
cblr-1695	17	54	-	-	PUNCT
cblr-1695	17	55	oxley	oxley	ADJ
cblr-1695	17	56	act	act	NOUN
cblr-1695	17	57	;	;	PUNCT
cblr-1695	17	58	and	and	CCONJ
cblr-1695	17	59	(	(	PUNCT
cblr-1695	17	60	2	2	X
cblr-1695	17	61	)	)	PUNCT
cblr-1695	17	62	offer	offer	VERB
cblr-1695	17	63	tax	tax	NOUN
cblr-1695	17	64	credits	credit	NOUN
cblr-1695	17	65	to	to	ADP
cblr-1695	17	66	companies	company	NOUN
cblr-1695	17	67	that	that	PRON
cblr-1695	17	68	conduct	conduct	VERB
cblr-1695	17	69	ipos	ipos	NOUN
cblr-1695	17	70	.	.	PUNCT
cblr-1695	18	1	enacting	enact	VERB
cblr-1695	18	2	such	such	ADJ
cblr-1695	18	3	policies	policy	NOUN
cblr-1695	18	4	would	would	AUX
cblr-1695	18	5	help	help	VERB
cblr-1695	18	6	ensure	ensure	VERB
cblr-1695	18	7	more	more	ADJ
cblr-1695	18	8	of	of	ADP
cblr-1695	18	9	today	today	NOUN
cblr-1695	18	10	’s	’s	PART
cblr-1695	18	11	companies	company	NOUN
cblr-1695	18	12	see	see	VERB
cblr-1695	18	13	the	the	DET
cblr-1695	18	14	public	public	ADJ
cblr-1695	18	15	markets	market	NOUN
cblr-1695	18	16	as	as	ADP
cblr-1695	18	17	attractive	attractive	ADJ
cblr-1695	18	18	sources	source	NOUN
cblr-1695	18	19	of	of	ADP
cblr-1695	18	20	capital	capital	NOUN
cblr-1695	18	21	once	once	ADV
cblr-1695	18	22	again	again	ADV
cblr-1695	18	23	.	.	PUNCT
cblr-1695	19	1	i.	i.	PROPN
cblr-1695	19	2	introduction	introduction	NOUN
cblr-1695	19	3	.................................................................	.................................................................	PUNCT
cblr-1695	19	4	307	307	NUM
cblr-1695	19	5	ii	ii	NOUN
cblr-1695	19	6	.	.	PUNCT
cblr-1695	20	1	background	background	NOUN
cblr-1695	20	2	on	on	ADP
cblr-1695	20	3	initial	initial	ADJ
cblr-1695	20	4	public	public	ADJ
cblr-1695	20	5	offerings	offering	NOUN
cblr-1695	20	6	and	and	CCONJ
cblr-1695	20	7	securities	security	NOUN
cblr-1695	20	8	regulation	regulation	NOUN
cblr-1695	20	9	..................................................	..................................................	PUNCT
cblr-1695	21	1	309	309	NUM
cblr-1695	21	2	a.	a.	NOUN
cblr-1695	21	3	the	the	DET
cblr-1695	21	4	genesis	genesis	NOUN
cblr-1695	21	5	of	of	ADP
cblr-1695	21	6	a	a	DET
cblr-1695	21	7	company	company	NOUN
cblr-1695	21	8	:	:	PUNCT
cblr-1695	21	9	financing	financing	NOUN
cblr-1695	21	10	options	option	NOUN
cblr-1695	21	11	for	for	ADP
cblr-1695	21	12	entrepreneurs	entrepreneur	NOUN
cblr-1695	21	13	.................	.................	PUNCT
cblr-1695	22	1	309	309	NUM
cblr-1695	22	2	b.	b.	NOUN
cblr-1695	22	3	going	go	VERB
cblr-1695	22	4	public	public	ADJ
cblr-1695	22	5	:	:	PUNCT
cblr-1695	22	6	the	the	DET
cblr-1695	22	7	advantages	advantage	NOUN
cblr-1695	22	8	and	and	CCONJ
cblr-1695	22	9	disadvantages	disadvantage	NOUN
cblr-1695	22	10	.......................................................	.......................................................	PUNCT
cblr-1695	22	11	312	312	NUM
cblr-1695	22	12	1	1	NUM
cblr-1695	22	13	.	.	PUNCT
cblr-1695	23	1	the	the	DET
cblr-1695	23	2	advantages	advantage	NOUN
cblr-1695	23	3	of	of	ADP
cblr-1695	23	4	an	an	DET
cblr-1695	23	5	ipo	ipo	NOUN
cblr-1695	23	6	..............................	..............................	PUNCT
cblr-1695	23	7	312	312	NUM
cblr-1695	23	8	2	2	NUM
cblr-1695	23	9	.	.	PUNCT
cblr-1695	24	1	the	the	DET
cblr-1695	24	2	disadvantages	disadvantage	NOUN
cblr-1695	24	3	of	of	ADP
cblr-1695	24	4	an	an	DET
cblr-1695	24	5	ipo	ipo	NOUN
cblr-1695	24	6	.........................	.........................	PUNCT
cblr-1695	24	7	314	314	NUM
cblr-1695	24	8	3	3	NUM
cblr-1695	24	9	.	.	PUNCT
cblr-1695	24	10	alternatives	alternative	NOUN
cblr-1695	24	11	to	to	ADP
cblr-1695	24	12	an	an	DET
cblr-1695	24	13	ipo	ipo	NOUN
cblr-1695	24	14	....................................	....................................	PUNCT
cblr-1695	24	15	317	317	NUM
cblr-1695	24	16	c.	c.	NOUN
cblr-1695	24	17	beginning	begin	VERB
cblr-1695	24	18	an	an	DET
cblr-1695	24	19	ipo	ipo	NOUN
cblr-1695	24	20	:	:	PUNCT
cblr-1695	24	21	the	the	DET
cblr-1695	24	22	registration	registration	NOUN
cblr-1695	24	23	statement	statement	NOUN
cblr-1695	24	24	..............................................................	..............................................................	PUNCT
cblr-1695	24	25	318	318	NUM
cblr-1695	24	26	d.	d.	NOUN
cblr-1695	24	27	the	the	DET
cblr-1695	24	28	2012	2012	NUM
cblr-1695	24	29	jumpstart	jumpstart	VERB
cblr-1695	24	30	our	our	PRON
cblr-1695	24	31	business	business	NOUN
cblr-1695	24	32	startups	startup	NOUN
cblr-1695	24	33	act	act	NOUN
cblr-1695	24	34	..........................................................	..........................................................	PUNCT
cblr-1695	24	35	320	320	NUM
cblr-1695	24	36	e.	e.	PROPN
cblr-1695	24	37	the	the	DET
cblr-1695	24	38	sec	sec	PROPN
cblr-1695	24	39	’s	’s	PART
cblr-1695	24	40	july	july	PROPN
cblr-1695	24	41	2017	2017	NUM
cblr-1695	24	42	change	change	NOUN
cblr-1695	24	43	...............................	...............................	PUNCT
cblr-1695	24	44	324	324	NUM
cblr-1695	24	45	iii	iii	NOUN
cblr-1695	24	46	.	.	PUNCT
cblr-1695	25	1	the	the	DET
cblr-1695	25	2	effect	effect	NOUN
cblr-1695	25	3	of	of	ADP
cblr-1695	25	4	the	the	DET
cblr-1695	25	5	confidential	confidential	ADJ
cblr-1695	25	6	draft	draft	NOUN
cblr-1695	25	7	registration	registration	NOUN
cblr-1695	25	8	process	process	NOUN
cblr-1695	25	9	on	on	ADP
cblr-1695	25	10	ipo	ipo	NOUN
cblr-1695	25	11	activity	activity	NOUN
cblr-1695	25	12	........................	........................	PUNCT
cblr-1695	25	13	326	326	NUM
cblr-1695	25	14	no	no	NOUN
cblr-1695	25	15	.	.	PUNCT
cblr-1695	26	1	1:305	1:305	X
cblr-1695	26	2	]	]	X
cblr-1695	26	3	going	go	VERB
cblr-1695	26	4	public	public	ADJ
cblr-1695	26	5	secretly	secretly	ADV
cblr-1695	26	6	307	307	NUM
cblr-1695	26	7	a.	a.	NOUN
cblr-1695	26	8	previous	previous	ADJ
cblr-1695	26	9	scholarship	scholarship	NOUN
cblr-1695	26	10	analyzing	analyze	VERB
cblr-1695	26	11	the	the	DET
cblr-1695	26	12	effect	effect	NOUN
cblr-1695	26	13	of	of	ADP
cblr-1695	26	14	the	the	DET
cblr-1695	26	15	jobs	job	NOUN
cblr-1695	26	16	act	act	VERB
cblr-1695	26	17	on	on	ADP
cblr-1695	26	18	egc	egc	ADJ
cblr-1695	26	19	ipo	ipo	NOUN
cblr-1695	26	20	activity	activity	NOUN
cblr-1695	26	21	...........................	...........................	PUNCT
cblr-1695	27	1	327	327	NUM
cblr-1695	27	2	b.	b.	PROPN
cblr-1695	27	3	empirical	empirical	ADJ
cblr-1695	27	4	study	study	NOUN
cblr-1695	27	5	analyzing	analyze	VERB
cblr-1695	27	6	the	the	DET
cblr-1695	27	7	july	july	PROPN
cblr-1695	27	8	2017	2017	NUM
cblr-1695	27	9	change	change	NOUN
cblr-1695	27	10	.................................................	.................................................	PUNCT
cblr-1695	27	11	330	330	NUM
cblr-1695	27	12	1	1	NUM
cblr-1695	27	13	.	.	PUNCT
cblr-1695	27	14	methodology	methodology	NOUN
cblr-1695	27	15	.....................................................	.....................................................	PUNCT
cblr-1695	27	16	330	330	NUM
cblr-1695	27	17	2	2	NUM
cblr-1695	27	18	.	.	PUNCT
cblr-1695	27	19	results	result	NOUN
cblr-1695	27	20	and	and	CCONJ
cblr-1695	27	21	analysis	analysis	NOUN
cblr-1695	27	22	.......................................	.......................................	PUNCT
cblr-1695	27	23	335	335	NUM
cblr-1695	27	24	i.	i.	NOUN
cblr-1695	27	25	framework	framework	PROPN
cblr-1695	27	26	a	a	DET
cblr-1695	27	27	:	:	PUNCT
cblr-1695	27	28	total	total	ADJ
cblr-1695	27	29	ipo	ipo	NOUN
cblr-1695	27	30	activity	activity	NOUN
cblr-1695	27	31	............	............	PUNCT
cblr-1695	27	32	335	335	NUM
cblr-1695	27	33	ii	ii	NOUN
cblr-1695	27	34	.	.	PUNCT
cblr-1695	27	35	framework	framework	PROPN
cblr-1695	28	1	b	b	NOUN
cblr-1695	28	2	:	:	PUNCT
cblr-1695	28	3	non	non	ADJ
cblr-1695	28	4	-	-	ADJ
cblr-1695	28	5	egc	egc	ADJ
cblr-1695	28	6	use	use	NOUN
cblr-1695	28	7	of	of	ADP
cblr-1695	28	8	confidential	confidential	ADJ
cblr-1695	28	9	filing	filing	NOUN
cblr-1695	28	10	....................................	....................................	PUNCT
cblr-1695	28	11	340	340	NUM
cblr-1695	28	12	iii	iii	NOUN
cblr-1695	28	13	.	.	PUNCT
cblr-1695	28	14	framework	framework	PROPN
cblr-1695	29	1	c	c	X
cblr-1695	29	2	:	:	PUNCT
cblr-1695	29	3	ipo	ipo	NOUN
cblr-1695	29	4	activity	activity	NOUN
cblr-1695	29	5	before	before	ADV
cblr-1695	29	6	and	and	CCONJ
cblr-1695	29	7	after	after	ADP
cblr-1695	29	8	the	the	DET
cblr-1695	29	9	july	july	PROPN
cblr-1695	29	10	2017	2017	NUM
cblr-1695	29	11	change	change	NOUN
cblr-1695	29	12	......................	......................	PUNCT
cblr-1695	29	13	345	345	NUM
cblr-1695	29	14	3	3	NUM
cblr-1695	29	15	.	.	PUNCT
cblr-1695	30	1	summary	summary	NOUN
cblr-1695	30	2	of	of	ADP
cblr-1695	30	3	findings	finding	NOUN
cblr-1695	30	4	......................................	......................................	PUNCT
cblr-1695	30	5	347	347	NUM
cblr-1695	30	6	iv	iv	NOUN
cblr-1695	30	7	.	.	PUNCT
cblr-1695	31	1	the	the	DET
cblr-1695	31	2	inherent	inherent	ADJ
cblr-1695	31	3	flaws	flaw	NOUN
cblr-1695	31	4	of	of	ADP
cblr-1695	31	5	the	the	DET
cblr-1695	31	6	sec	sec	PROPN
cblr-1695	31	7	’s	’s	PART
cblr-1695	31	8	approach	approach	NOUN
cblr-1695	31	9	to	to	ADP
cblr-1695	31	10	increasing	increase	VERB
cblr-1695	31	11	ipos	ipos	NOUN
cblr-1695	31	12	......................................	......................................	PUNCT
cblr-1695	31	13	347	347	NUM
cblr-1695	31	14	a.	a.	NOUN
cblr-1695	31	15	capital	capital	NOUN
cblr-1695	31	16	raised	raise	VERB
cblr-1695	31	17	as	as	ADP
cblr-1695	31	18	a	a	DET
cblr-1695	31	19	complementary	complementary	ADJ
cblr-1695	31	20	metric	metric	NOUN
cblr-1695	31	21	of	of	ADP
cblr-1695	31	22	ipo	ipo	PROPN
cblr-1695	31	23	success	success	NOUN
cblr-1695	31	24	...........................................	...........................................	PUNCT
cblr-1695	31	25	347	347	NUM
cblr-1695	31	26	b.	b.	NOUN
cblr-1695	31	27	promoting	promote	VERB
cblr-1695	31	28	equality	equality	NOUN
cblr-1695	31	29	via	via	ADP
cblr-1695	31	30	the	the	DET
cblr-1695	31	31	public	public	ADJ
cblr-1695	31	32	markets	market	NOUN
cblr-1695	31	33	......	......	PUNCT
cblr-1695	32	1	352	352	NUM
cblr-1695	32	2	v.	v.	ADP
cblr-1695	32	3	proposals	proposal	NOUN
cblr-1695	32	4	for	for	ADP
cblr-1695	32	5	increasing	increase	VERB
cblr-1695	32	6	ipo	ipo	NOUN
cblr-1695	32	7	activity	activity	NOUN
cblr-1695	32	8	.......................	.......................	PUNCT
cblr-1695	32	9	355	355	NUM
cblr-1695	32	10	a.	a.	NOUN
cblr-1695	32	11	eliminate	eliminate	NOUN
cblr-1695	32	12	benefits	benefit	NOUN
cblr-1695	32	13	awarded	award	VERB
cblr-1695	32	14	to	to	ADP
cblr-1695	32	15	private	private	ADJ
cblr-1695	32	16	capital	capital	NOUN
cblr-1695	32	17	......................................................	......................................................	PUNCT
cblr-1695	33	1	356	356	NUM
cblr-1695	33	2	b.	b.	NOUN
cblr-1695	33	3	create	create	VERB
cblr-1695	33	4	meaningful	meaningful	ADJ
cblr-1695	33	5	benefits	benefit	NOUN
cblr-1695	33	6	for	for	ADP
cblr-1695	33	7	companies	company	NOUN
cblr-1695	33	8	that	that	PRON
cblr-1695	33	9	elect	elect	VERB
cblr-1695	33	10	to	to	PART
cblr-1695	33	11	go	go	VERB
cblr-1695	33	12	public	public	ADJ
cblr-1695	33	13	......................	......................	PUNCT
cblr-1695	34	1	358	358	NUM
cblr-1695	34	2	1	1	NUM
cblr-1695	34	3	.	.	PUNCT
cblr-1695	34	4	temporarily	temporarily	ADV
cblr-1695	34	5	exempt	exempt	ADJ
cblr-1695	34	6	companies	company	NOUN
cblr-1695	34	7	from	from	ADP
cblr-1695	34	8	portions	portion	NOUN
cblr-1695	34	9	of	of	ADP
cblr-1695	34	10	sox	sox	PROPN
cblr-1695	34	11	and	and	CCONJ
cblr-1695	34	12	other	other	ADJ
cblr-1695	34	13	regulations	regulation	NOUN
cblr-1695	34	14	applicable	applicable	ADJ
cblr-1695	34	15	to	to	ADP
cblr-1695	34	16	public	public	ADJ
cblr-1695	34	17	companies	company	NOUN
cblr-1695	34	18	.....................	.....................	PUNCT
cblr-1695	35	1	359	359	NUM
cblr-1695	35	2	2	2	NUM
cblr-1695	35	3	.	.	X
cblr-1695	35	4	offer	offer	VERB
cblr-1695	35	5	tax	tax	NOUN
cblr-1695	35	6	incentives	incentive	NOUN
cblr-1695	35	7	to	to	ADP
cblr-1695	35	8	companies	company	NOUN
cblr-1695	35	9	for	for	ADP
cblr-1695	35	10	going	go	VERB
cblr-1695	35	11	public	public	ADJ
cblr-1695	35	12	.....................................................	.....................................................	PUNCT
cblr-1695	36	1	361	361	NUM
cblr-1695	36	2	c.	c.	NOUN
cblr-1695	36	3	eliminate	eliminate	VERB
cblr-1695	36	4	the	the	DET
cblr-1695	36	5	confidential	confidential	ADJ
cblr-1695	36	6	drs	drs	ADJ
cblr-1695	36	7	process	process	NOUN
cblr-1695	36	8	for	for	ADP
cblr-1695	36	9	egcs	egcs	ADJ
cblr-1695	36	10	and	and	CCONJ
cblr-1695	36	11	non	non	ADJ
cblr-1695	36	12	-	-	ADJ
cblr-1695	36	13	egcs	egcs	ADJ
cblr-1695	36	14	...........................................	...........................................	PUNCT
cblr-1695	36	15	363	363	NUM
cblr-1695	36	16	vi	vi	NOUN
cblr-1695	36	17	.	.	PUNCT
cblr-1695	36	18	conclusion	conclusion	NOUN
cblr-1695	36	19	....................................................................	....................................................................	PUNCT
cblr-1695	36	20	366	366	NUM
cblr-1695	36	21	i.	i.	NOUN
cblr-1695	36	22	introduction	introduction	NOUN
cblr-1695	36	23	in	in	ADP
cblr-1695	36	24	late	late	ADJ
cblr-1695	36	25	december	december	PROPN
cblr-1695	36	26	2016	2016	NUM
cblr-1695	36	27	,	,	PUNCT
cblr-1695	36	28	then	then	ADV
cblr-1695	36	29	-	-	PUNCT
cblr-1695	36	30	president	president	NOUN
cblr-1695	36	31	-	-	PUNCT
cblr-1695	36	32	elect	elect	PROPN
cblr-1695	36	33	donald	donald	PROPN
cblr-1695	36	34	j.	j.	PROPN
cblr-1695	36	35	trump	trump	PROPN
cblr-1695	36	36	met	meet	VERB
cblr-1695	36	37	with	with	ADP
cblr-1695	36	38	wall	wall	PROPN
cblr-1695	36	39	street	street	PROPN
cblr-1695	36	40	lawyer	lawyer	PROPN
cblr-1695	36	41	jay	jay	PROPN
cblr-1695	36	42	clayton	clayton	PROPN
cblr-1695	36	43	at	at	ADP
cblr-1695	36	44	trump	trump	PROPN
cblr-1695	36	45	’s	’s	PART
cblr-1695	36	46	mar	mar	PROPN
cblr-1695	36	47	-	-	PUNCT
cblr-1695	36	48	a	a	DET
cblr-1695	36	49	-	-	PUNCT
cblr-1695	36	50	lago	lago	NOUN
cblr-1695	36	51	resort	resort	NOUN
cblr-1695	36	52	in	in	ADP
cblr-1695	36	53	palm	palm	NOUN
cblr-1695	36	54	beach	beach	NOUN
cblr-1695	36	55	,	,	PUNCT
cblr-1695	36	56	florida.1	florida.1	PROPN
cblr-1695	36	57	following	follow	VERB
cblr-1695	36	58	his	his	PRON
cblr-1695	36	59	1	1	NUM
cblr-1695	36	60	robert	robert	PROPN
cblr-1695	36	61	schmidt	schmidt	PROPN
cblr-1695	36	62	&	&	CCONJ
cblr-1695	36	63	benjamin	benjamin	PROPN
cblr-1695	36	64	bain	bain	PROPN
cblr-1695	36	65	,	,	PUNCT
cblr-1695	36	66	trump	trump	NOUN
cblr-1695	36	67	wants	want	VERB
cblr-1695	36	68	a	a	DET
cblr-1695	36	69	pro	pro	ADJ
cblr-1695	36	70	-	-	ADJ
cblr-1695	36	71	business	business	ADJ
cblr-1695	36	72	sec	sec	PROPN
cblr-1695	36	73	.	.	PUNCT
cblr-1695	37	1	that	that	PRON
cblr-1695	37	2	has	have	VERB
cblr-1695	37	3	some	some	DET
cblr-1695	37	4	investors	investor	NOUN
cblr-1695	37	5	worried	worry	VERB
cblr-1695	37	6	,	,	PUNCT
cblr-1695	37	7	bloomberg	bloomberg	PROPN
cblr-1695	37	8	(	(	PUNCT
cblr-1695	37	9	feb	feb	PROPN
cblr-1695	37	10	.	.	PROPN
cblr-1695	37	11	23	23	NUM
cblr-1695	37	12	,	,	PUNCT
cblr-1695	37	13	2017	2017	NUM
cblr-1695	37	14	)	)	PUNCT
cblr-1695	37	15	,	,	PUNCT
cblr-1695	37	16	308	308	NUM
cblr-1695	37	17	columbia	columbia	PROPN
cblr-1695	37	18	business	business	NOUN
cblr-1695	37	19	law	law	PROPN
cblr-1695	37	20	review	review	NOUN
cblr-1695	38	1	[	[	X
cblr-1695	38	2	vol	vol	NOUN
cblr-1695	38	3	.	.	PUNCT
cblr-1695	38	4	2019	2019	NUM
cblr-1695	38	5	victory	victory	NOUN
cblr-1695	38	6	in	in	ADP
cblr-1695	38	7	the	the	DET
cblr-1695	38	8	2016	2016	NUM
cblr-1695	38	9	u.s	u.s	PROPN
cblr-1695	38	10	.	.	PROPN
cblr-1695	38	11	presidential	presidential	ADJ
cblr-1695	38	12	election	election	NOUN
cblr-1695	38	13	,	,	PUNCT
cblr-1695	38	14	trump	trump	NOUN
cblr-1695	38	15	was	be	AUX
cblr-1695	38	16	searching	search	VERB
cblr-1695	38	17	for	for	SCONJ
cblr-1695	38	18	his	his	PRON
cblr-1695	38	19	nominee	nominee	NOUN
cblr-1695	38	20	to	to	PART
cblr-1695	38	21	head	head	VERB
cblr-1695	38	22	the	the	DET
cblr-1695	38	23	securities	securities	PROPN
cblr-1695	38	24	and	and	CCONJ
cblr-1695	38	25	exchange	exchange	PROPN
cblr-1695	38	26	commission	commission	PROPN
cblr-1695	38	27	(	(	PUNCT
cblr-1695	38	28	“	"	PUNCT
cblr-1695	38	29	sec	sec	PROPN
cblr-1695	38	30	”	"	PUNCT
cblr-1695	38	31	)	)	PUNCT
cblr-1695	38	32	.	.	PUNCT
cblr-1695	39	1	during	during	ADP
cblr-1695	39	2	his	his	PRON
cblr-1695	39	3	meeting	meeting	NOUN
cblr-1695	39	4	with	with	ADP
cblr-1695	39	5	clayton	clayton	PROPN
cblr-1695	39	6	,	,	PUNCT
cblr-1695	39	7	trump	trump	NOUN
cblr-1695	39	8	“	"	PUNCT
cblr-1695	39	9	was	be	AUX
cblr-1695	39	10	fixated	fixate	VERB
cblr-1695	39	11	on	on	ADP
cblr-1695	39	12	the	the	DET
cblr-1695	39	13	steep	steep	ADJ
cblr-1695	39	14	decline”2	decline”2	NOUN
cblr-1695	39	15	of	of	ADP
cblr-1695	39	16	u.s	u.s	PROPN
cblr-1695	39	17	.	.	PROPN
cblr-1695	39	18	initial	initial	ADJ
cblr-1695	39	19	public	public	ADJ
cblr-1695	39	20	offerings	offering	NOUN
cblr-1695	39	21	(	(	PUNCT
cblr-1695	39	22	“	"	PUNCT
cblr-1695	39	23	ipos	ipos	NOUN
cblr-1695	39	24	”	"	PUNCT
cblr-1695	39	25	)	)	PUNCT
cblr-1695	39	26	and	and	CCONJ
cblr-1695	39	27	was	be	AUX
cblr-1695	39	28	“	"	PUNCT
cblr-1695	39	29	going	go	VERB
cblr-1695	39	30	on	on	ADP
cblr-1695	39	31	and	and	CCONJ
cblr-1695	39	32	on	on	ADP
cblr-1695	39	33	about	about	ADP
cblr-1695	39	34	the	the	PRON
cblr-1695	39	35	.	.	PUNCT
cblr-1695	39	36	.	.	PUNCT
cblr-1695	40	1	.	.	PUNCT
cblr-1695	41	1	dearth	dearth	NOUN
cblr-1695	41	2	of	of	ADP
cblr-1695	41	3	u.s	u.s	PROPN
cblr-1695	41	4	.	.	PROPN
cblr-1695	41	5	ipos	ipos	PROPN
cblr-1695	41	6	and	and	CCONJ
cblr-1695	41	7	how	how	SCONJ
cblr-1695	41	8	we	we	PRON
cblr-1695	41	9	need	need	VERB
cblr-1695	41	10	to	to	PART
cblr-1695	41	11	change	change	VERB
cblr-1695	41	12	that	that	PRON
cblr-1695	41	13	.	.	PUNCT
cblr-1695	41	14	”3	”3	VERB
cblr-1695	41	15	a	a	DET
cblr-1695	41	16	few	few	ADJ
cblr-1695	41	17	months	month	NOUN
cblr-1695	41	18	later	later	ADV
cblr-1695	41	19	,	,	PUNCT
cblr-1695	41	20	clayton	clayton	PROPN
cblr-1695	41	21	became	become	VERB
cblr-1695	41	22	sec	sec	PROPN
cblr-1695	41	23	chairman	chairman	NOUN
cblr-1695	41	24	and	and	CCONJ
cblr-1695	41	25	began	begin	VERB
cblr-1695	41	26	working	work	VERB
cblr-1695	41	27	to	to	PART
cblr-1695	41	28	achieve	achieve	VERB
cblr-1695	41	29	the	the	DET
cblr-1695	41	30	president	president	NOUN
cblr-1695	41	31	’s	’s	PART
cblr-1695	41	32	goal	goal	NOUN
cblr-1695	41	33	of	of	ADP
cblr-1695	41	34	increasing	increase	VERB
cblr-1695	41	35	the	the	DET
cblr-1695	41	36	number	number	NOUN
cblr-1695	41	37	of	of	ADP
cblr-1695	41	38	ipos	ipos	NOUN
cblr-1695	41	39	in	in	ADP
cblr-1695	41	40	the	the	DET
cblr-1695	41	41	united	united	PROPN
cblr-1695	41	42	states.4	states.4	PROPN
cblr-1695	41	43	in	in	ADP
cblr-1695	41	44	his	his	PRON
cblr-1695	41	45	first	first	ADJ
cblr-1695	41	46	public	public	ADJ
cblr-1695	41	47	address	address	NOUN
cblr-1695	41	48	on	on	ADP
cblr-1695	41	49	july	july	PROPN
cblr-1695	41	50	12	12	NUM
cblr-1695	41	51	,	,	PUNCT
cblr-1695	41	52	2017	2017	NUM
cblr-1695	41	53	,	,	PUNCT
cblr-1695	41	54	chairman	chairman	NOUN
cblr-1695	41	55	clayton	clayton	PROPN
cblr-1695	41	56	spoke	speak	VERB
cblr-1695	41	57	to	to	ADP
cblr-1695	41	58	the	the	DET
cblr-1695	41	59	economic	economic	ADJ
cblr-1695	41	60	club	club	NOUN
cblr-1695	41	61	of	of	ADP
cblr-1695	41	62	new	new	PROPN
cblr-1695	41	63	york	york	PROPN
cblr-1695	41	64	about	about	ADP
cblr-1695	41	65	the	the	DET
cblr-1695	41	66	“	"	PUNCT
cblr-1695	41	67	need	need	NOUN
cblr-1695	41	68	to	to	PART
cblr-1695	41	69	increase	increase	VERB
cblr-1695	41	70	the	the	DET
cblr-1695	41	71	attractiveness	attractiveness	NOUN
cblr-1695	41	72	of	of	ADP
cblr-1695	41	73	our	our	PRON
cblr-1695	41	74	public	public	ADJ
cblr-1695	41	75	capital	capital	NOUN
cblr-1695	41	76	markets”5	markets”5	PROPN
cblr-1695	41	77	and	and	CCONJ
cblr-1695	41	78	announced	announce	VERB
cblr-1695	41	79	that	that	SCONJ
cblr-1695	41	80	the	the	DET
cblr-1695	41	81	sec	sec	PROPN
cblr-1695	41	82	’s	’s	PART
cblr-1695	41	83	confidential	confidential	ADJ
cblr-1695	41	84	review	review	NOUN
cblr-1695	41	85	of	of	ADP
cblr-1695	41	86	ipo	ipo	NOUN
cblr-1695	41	87	registration	registration	NOUN
cblr-1695	41	88	statements	statement	NOUN
cblr-1695	41	89	—	—	PUNCT
cblr-1695	41	90	previously	previously	ADV
cblr-1695	41	91	only	only	ADV
cblr-1695	41	92	available	available	ADJ
cblr-1695	41	93	to	to	ADP
cblr-1695	41	94	“	"	PUNCT
cblr-1695	41	95	emerging	emerge	VERB
cblr-1695	41	96	growth	growth	NOUN
cblr-1695	41	97	companies”—was	companies”—was	PROPN
cblr-1695	41	98	,	,	PUNCT
cblr-1695	41	99	as	as	ADP
cblr-1695	41	100	of	of	ADP
cblr-1695	41	101	two	two	NUM
cblr-1695	41	102	days	day	NOUN
cblr-1695	41	103	earlier	early	ADV
cblr-1695	41	104	,	,	PUNCT
cblr-1695	41	105	open	open	ADJ
cblr-1695	41	106	to	to	ADP
cblr-1695	41	107	all	all	DET
cblr-1695	41	108	companies.6	companies.6	PROPN
cblr-1695	41	109	clayton	clayton	PROPN
cblr-1695	41	110	elaborated	elaborate	VERB
cblr-1695	41	111	that	that	SCONJ
cblr-1695	41	112	he	he	PRON
cblr-1695	41	113	hoped	hope	VERB
cblr-1695	41	114	this	this	DET
cblr-1695	41	115	change	change	NOUN
cblr-1695	41	116	would	would	AUX
cblr-1695	41	117	encourage	encourage	VERB
cblr-1695	41	118	larger	large	ADJ
cblr-1695	41	119	companies	company	NOUN
cblr-1695	41	120	to	to	PART
cblr-1695	41	121	“	"	PUNCT
cblr-1695	41	122	find	find	VERB
cblr-1695	41	123	the	the	DET
cblr-1695	41	124	prospect	prospect	NOUN
cblr-1695	41	125	of	of	ADP
cblr-1695	41	126	selling	sell	VERB
cblr-1695	41	127	their	their	PRON
cblr-1695	41	128	shares	share	NOUN
cblr-1695	41	129	in	in	ADP
cblr-1695	41	130	the	the	DET
cblr-1695	41	131	u.s	u.s	PROPN
cblr-1695	41	132	.	.	PROPN
cblr-1695	41	133	public	public	ADJ
cblr-1695	41	134	markets	market	NOUN
cblr-1695	41	135	more	more	ADJ
cblr-1695	41	136	attractive[.]”7	attractive[.]”7	PROPN
cblr-1695	41	137	this	this	DET
cblr-1695	41	138	note	note	NOUN
cblr-1695	41	139	argues	argue	VERB
cblr-1695	41	140	that	that	SCONJ
cblr-1695	41	141	the	the	DET
cblr-1695	41	142	new	new	ADJ
cblr-1695	41	143	sec	sec	PROPN
cblr-1695	41	144	policy	policy	NOUN
cblr-1695	41	145	that	that	PRON
cblr-1695	41	146	allows	allow	VERB
cblr-1695	41	147	large	large	ADJ
cblr-1695	41	148	companies	company	NOUN
cblr-1695	41	149	with	with	ADP
cblr-1695	41	150	annual	annual	ADJ
cblr-1695	41	151	revenues	revenue	NOUN
cblr-1695	41	152	of	of	ADP
cblr-1695	41	153	$	$	SYM
cblr-1695	41	154	1.07	1.07	NUM
cblr-1695	41	155	billion	billion	NUM
cblr-1695	41	156	or	or	CCONJ
cblr-1695	41	157	more	more	ADJ
cblr-1695	41	158	to	to	PART
cblr-1695	41	159	confidentially	confidentially	ADV
cblr-1695	41	160	file	file	VERB
cblr-1695	41	161	registration	registration	NOUN
cblr-1695	41	162	statements	statement	NOUN
cblr-1695	41	163	before	before	ADP
cblr-1695	41	164	publicly	publicly	ADV
cblr-1695	41	165	announcing	announce	VERB
cblr-1695	41	166	their	their	PRON
cblr-1695	41	167	intentions	intention	NOUN
cblr-1695	41	168	to	to	PART
cblr-1695	41	169	go	go	VERB
cblr-1695	41	170	public	public	ADJ
cblr-1695	41	171	has	have	VERB
cblr-1695	41	172	not	not	PART
cblr-1695	41	173	—	—	PUNCT
cblr-1695	41	174	and	and	CCONJ
cblr-1695	41	175	will	will	AUX
cblr-1695	41	176	not	not	PART
cblr-1695	41	177	—	—	PUNCT
cblr-1695	41	178	achieve	achieve	VERB
cblr-1695	41	179	the	the	DET
cblr-1695	41	180	trump	trump	NOUN
cblr-1695	41	181	administration	administration	NOUN
cblr-1695	41	182	’s	’s	PART
cblr-1695	41	183	goal	goal	NOUN
cblr-1695	41	184	of	of	ADP
cblr-1695	41	185	increasing	increase	VERB
cblr-1695	41	186	the	the	DET
cblr-1695	41	187	number	number	NOUN
cblr-1695	41	188	of	of	ADP
cblr-1695	41	189	u.s	u.s	PROPN
cblr-1695	41	190	.	.	PROPN
cblr-1695	41	191	ipos	ipos	PROPN
cblr-1695	41	192	.	.	PUNCT
cblr-1695	42	1	the	the	DET
cblr-1695	42	2	policy	policy	NOUN
cblr-1695	42	3	should	should	AUX
cblr-1695	42	4	,	,	PUNCT
cblr-1695	42	5	therefore	therefore	ADV
cblr-1695	42	6	,	,	PUNCT
cblr-1695	42	7	be	be	AUX
cblr-1695	42	8	https://www.bloomberg.com/news/articles/2017-02-23/trump-wants-a-probusiness-sec-that-has-some-investors-worried	https://www.bloomberg.com/news/articles/2017-02-23/trump-wants-a-probusiness-sec-that-has-some-investors-worrie	VERB
cblr-1695	42	9	[	[	PRON
cblr-1695	42	10	https://perma.cc/fn79s92e	https://perma.cc/fn79s92e	NOUN
cblr-1695	42	11	]	]	X
cblr-1695	42	12	.	.	PUNCT
cblr-1695	43	1	2	2	NUM
cblr-1695	43	2	i	i	PRON
cblr-1695	43	3	d.	d.	PROPN
cblr-1695	43	4	3	3	NUM
cblr-1695	43	5	bloomberg	bloomberg	PROPN
cblr-1695	43	6	,	,	PUNCT
cblr-1695	43	7	trump	trump	NOUN
cblr-1695	43	8	wants	want	VERB
cblr-1695	43	9	a	a	DET
cblr-1695	43	10	pro	pro	ADJ
cblr-1695	43	11	-	-	ADJ
cblr-1695	43	12	business	business	ADJ
cblr-1695	43	13	sec	sec	PROPN
cblr-1695	43	14	to	to	PART
cblr-1695	43	15	boost	boost	VERB
cblr-1695	43	16	ipos	ipos	NOUN
cblr-1695	43	17	,	,	PUNCT
cblr-1695	43	18	youtube	youtube	NOUN
cblr-1695	43	19	(	(	PUNCT
cblr-1695	43	20	feb	feb	PROPN
cblr-1695	43	21	.	.	PROPN
cblr-1695	43	22	23	23	NUM
cblr-1695	43	23	,	,	PUNCT
cblr-1695	43	24	2017	2017	NUM
cblr-1695	43	25	)	)	PUNCT
cblr-1695	43	26	,	,	PUNCT
cblr-1695	43	27	https://www.youtube.com/	https://www.youtube.com/	NOUN
cblr-1695	43	28	watch?v	watch?v	NOUN
cblr-1695	43	29	=	=	SYM
cblr-1695	43	30	glhrs2o6w9	glhrs2o6w9	PROPN
cblr-1695	43	31	g	g	NOUN
cblr-1695	43	32	(	(	PUNCT
cblr-1695	43	33	on	on	ADP
cblr-1695	43	34	file	file	NOUN
cblr-1695	43	35	with	with	ADP
cblr-1695	43	36	the	the	DET
cblr-1695	43	37	columbia	columbia	PROPN
cblr-1695	43	38	business	business	PROPN
cblr-1695	43	39	law	law	PROPN
cblr-1695	43	40	review	review	PROPN
cblr-1695	43	41	)	)	PUNCT
cblr-1695	43	42	.	.	PUNCT
cblr-1695	44	1	4	4	NUM
cblr-1695	44	2	see	see	VERB
cblr-1695	44	3	infra	infra	NOUN
cblr-1695	44	4	section	section	NOUN
cblr-1695	44	5	ii.e	ii.e	ADV
cblr-1695	44	6	.	.	PUNCT
cblr-1695	45	1	5	5	NUM
cblr-1695	45	2	jay	jay	PROPN
cblr-1695	45	3	clayton	clayton	PROPN
cblr-1695	45	4	,	,	PUNCT
cblr-1695	45	5	sec	sec	PROPN
cblr-1695	45	6	chairman	chairman	NOUN
cblr-1695	45	7	,	,	PUNCT
cblr-1695	45	8	remarks	remark	NOUN
cblr-1695	45	9	at	at	ADP
cblr-1695	45	10	the	the	DET
cblr-1695	45	11	economic	economic	ADJ
cblr-1695	45	12	club	club	NOUN
cblr-1695	45	13	of	of	ADP
cblr-1695	45	14	new	new	PROPN
cblr-1695	45	15	york	york	PROPN
cblr-1695	45	16	,	,	PUNCT
cblr-1695	45	17	at	at	ADP
cblr-1695	45	18	ii.b	ii.b	NOUN
cblr-1695	45	19	.	.	PUNCT
cblr-1695	46	1	(	(	PUNCT
cblr-1695	46	2	july	july	PROPN
cblr-1695	46	3	12	12	NUM
cblr-1695	46	4	,	,	PUNCT
cblr-1695	46	5	2017	2017	NUM
cblr-1695	46	6	)	)	PUNCT
cblr-1695	46	7	(	(	PUNCT
cblr-1695	46	8	transcript	transcript	NOUN
cblr-1695	46	9	available	available	ADJ
cblr-1695	46	10	at	at	ADP
cblr-1695	46	11	https://www.sec.gov/	https://www.sec.gov/	PROPN
cblr-1695	46	12	news	news	NOUN
cblr-1695	46	13	/	/	SYM
cblr-1695	46	14	speech	speech	NOUN
cblr-1695	46	15	/	/	SYM
cblr-1695	46	16	remarks	remark	NOUN
cblr-1695	46	17	-	-	PUNCT
cblr-1695	46	18	economic	economic	ADJ
cblr-1695	46	19	-	-	PUNCT
cblr-1695	46	20	club	club	NOUN
cblr-1695	46	21	-	-	PUNCT
cblr-1695	46	22	new	new	ADJ
cblr-1695	46	23	-	-	PUNCT
cblr-1695	46	24	york	york	NOUN
cblr-1695	46	25	[	[	X
cblr-1695	46	26	https://perma.cc/qlp82rug	https://perma.cc/qlp82rug	PROPN
cblr-1695	46	27	]	]	PUNCT
cblr-1695	46	28	)	)	PUNCT
cblr-1695	46	29	.	.	PUNCT
cblr-1695	47	1	6	6	NUM
cblr-1695	47	2	see	see	VERB
cblr-1695	47	3	i	i	PRON
cblr-1695	47	4	d.	d.	PROPN
cblr-1695	47	5	for	for	ADP
cblr-1695	47	6	a	a	DET
cblr-1695	47	7	discussion	discussion	NOUN
cblr-1695	47	8	of	of	ADP
cblr-1695	47	9	emerging	emerge	VERB
cblr-1695	47	10	growth	growth	NOUN
cblr-1695	47	11	companies	company	NOUN
cblr-1695	47	12	,	,	PUNCT
cblr-1695	47	13	see	see	VERB
cblr-1695	47	14	infra	infra	NOUN
cblr-1695	47	15	section	section	NOUN
cblr-1695	47	16	ii.d	ii.d	PRON
cblr-1695	47	17	.	.	PUNCT
cblr-1695	48	1	7	7	NUM
cblr-1695	48	2	clayton	clayton	PROPN
cblr-1695	48	3	,	,	PUNCT
cblr-1695	48	4	supra	supra	PROPN
cblr-1695	48	5	note	note	NOUN
cblr-1695	48	6	5	5	NUM
cblr-1695	48	7	.	.	PUNCT
cblr-1695	48	8	no	no	INTJ
cblr-1695	48	9	.	.	PUNCT
cblr-1695	49	1	1:305	1:305	NUM
cblr-1695	49	2	]	]	X
cblr-1695	49	3	going	go	VERB
cblr-1695	49	4	public	public	ADJ
cblr-1695	49	5	secretly	secretly	ADV
cblr-1695	49	6	309	309	NUM
cblr-1695	49	7	abandoned	abandon	VERB
cblr-1695	49	8	in	in	ADP
cblr-1695	49	9	favor	favor	NOUN
cblr-1695	49	10	of	of	ADP
cblr-1695	49	11	others	other	NOUN
cblr-1695	49	12	that	that	PRON
cblr-1695	49	13	can	can	AUX
cblr-1695	49	14	better	well	ADV
cblr-1695	49	15	succeed	succeed	VERB
cblr-1695	49	16	in	in	ADP
cblr-1695	49	17	this	this	DET
cblr-1695	49	18	endeavor	endeavor	NOUN
cblr-1695	49	19	.	.	PUNCT
cblr-1695	50	1	part	part	NOUN
cblr-1695	50	2	ii	ii	PROPN
cblr-1695	50	3	of	of	ADP
cblr-1695	50	4	this	this	DET
cblr-1695	50	5	note	note	NOUN
cblr-1695	50	6	provides	provide	VERB
cblr-1695	50	7	background	background	NOUN
cblr-1695	50	8	information	information	NOUN
cblr-1695	50	9	on	on	ADP
cblr-1695	50	10	capital	capital	NOUN
cblr-1695	50	11	formation	formation	NOUN
cblr-1695	50	12	,	,	PUNCT
cblr-1695	50	13	the	the	DET
cblr-1695	50	14	securities	security	NOUN
cblr-1695	50	15	laws	law	NOUN
cblr-1695	50	16	that	that	PRON
cblr-1695	50	17	regulate	regulate	VERB
cblr-1695	50	18	issuer	issuer	ADJ
cblr-1695	50	19	registration	registration	NOUN
cblr-1695	50	20	,	,	PUNCT
cblr-1695	50	21	and	and	CCONJ
cblr-1695	50	22	the	the	DET
cblr-1695	50	23	confidential	confidential	ADJ
cblr-1695	50	24	draft	draft	NOUN
cblr-1695	50	25	registration	registration	NOUN
cblr-1695	50	26	process	process	NOUN
cblr-1695	50	27	,	,	PUNCT
cblr-1695	50	28	which	which	PRON
cblr-1695	50	29	was	be	AUX
cblr-1695	50	30	first	first	ADV
cblr-1695	50	31	established	establish	VERB
cblr-1695	50	32	by	by	ADP
cblr-1695	50	33	the	the	DET
cblr-1695	50	34	jumpstart	jumpstart	NOUN
cblr-1695	50	35	our	our	PRON
cblr-1695	50	36	business	business	NOUN
cblr-1695	50	37	startups	startup	NOUN
cblr-1695	50	38	act	act	NOUN
cblr-1695	50	39	(	(	PUNCT
cblr-1695	50	40	the	the	DET
cblr-1695	50	41	“	"	PUNCT
cblr-1695	50	42	jobs	job	NOUN
cblr-1695	50	43	act	act	NOUN
cblr-1695	50	44	”	"	PUNCT
cblr-1695	50	45	)	)	PUNCT
cblr-1695	50	46	in	in	ADP
cblr-1695	50	47	2012	2012	NUM
cblr-1695	50	48	and	and	CCONJ
cblr-1695	50	49	was	be	AUX
cblr-1695	50	50	expanded	expand	VERB
cblr-1695	50	51	by	by	ADP
cblr-1695	50	52	the	the	DET
cblr-1695	50	53	sec	sec	PROPN
cblr-1695	50	54	change	change	NOUN
cblr-1695	50	55	in	in	ADP
cblr-1695	50	56	july	july	PROPN
cblr-1695	50	57	2017	2017	NUM
cblr-1695	50	58	.	.	PUNCT
cblr-1695	51	1	part	part	NOUN
cblr-1695	51	2	iii	iii	NUM
cblr-1695	51	3	first	first	ADJ
cblr-1695	51	4	surveys	survey	NOUN
cblr-1695	51	5	existing	exist	VERB
cblr-1695	51	6	scholarship	scholarship	NOUN
cblr-1695	51	7	that	that	PRON
cblr-1695	51	8	suggests	suggest	VERB
cblr-1695	51	9	it	it	PRON
cblr-1695	51	10	is	be	AUX
cblr-1695	51	11	inconclusive	inconclusive	ADJ
cblr-1695	51	12	whether	whether	SCONJ
cblr-1695	51	13	the	the	DET
cblr-1695	51	14	jobs	job	NOUN
cblr-1695	51	15	act	act	NOUN
cblr-1695	51	16	has	have	AUX
cblr-1695	51	17	succeeded	succeed	VERB
cblr-1695	51	18	in	in	ADP
cblr-1695	51	19	increasing	increase	VERB
cblr-1695	51	20	the	the	DET
cblr-1695	51	21	number	number	NOUN
cblr-1695	51	22	of	of	ADP
cblr-1695	51	23	ipos	ipos	PROPN
cblr-1695	51	24	.	.	PUNCT
cblr-1695	52	1	part	part	PROPN
cblr-1695	52	2	iii	iii	NUM
cblr-1695	52	3	then	then	ADV
cblr-1695	52	4	discusses	discuss	VERB
cblr-1695	52	5	the	the	DET
cblr-1695	52	6	results	result	NOUN
cblr-1695	52	7	of	of	ADP
cblr-1695	52	8	the	the	DET
cblr-1695	52	9	empirical	empirical	ADJ
cblr-1695	52	10	study	study	NOUN
cblr-1695	52	11	,	,	PUNCT
cblr-1695	52	12	conducted	conduct	VERB
cblr-1695	52	13	specifically	specifically	ADV
cblr-1695	52	14	for	for	ADP
cblr-1695	52	15	this	this	DET
cblr-1695	52	16	note	note	NOUN
cblr-1695	52	17	by	by	ADP
cblr-1695	52	18	the	the	DET
cblr-1695	52	19	author	author	NOUN
cblr-1695	52	20	,	,	PUNCT
cblr-1695	52	21	which	which	PRON
cblr-1695	52	22	suggest	suggest	VERB
cblr-1695	52	23	that	that	SCONJ
cblr-1695	52	24	the	the	DET
cblr-1695	52	25	new	new	ADJ
cblr-1695	52	26	sec	sec	PROPN
cblr-1695	52	27	policy	policy	NOUN
cblr-1695	52	28	announced	announce	VERB
cblr-1695	52	29	in	in	ADP
cblr-1695	52	30	july	july	PROPN
cblr-1695	52	31	2017	2017	NUM
cblr-1695	52	32	has	have	AUX
cblr-1695	52	33	not	not	PART
cblr-1695	52	34	had	have	VERB
cblr-1695	52	35	a	a	DET
cblr-1695	52	36	noticeable	noticeable	ADJ
cblr-1695	52	37	effect	effect	NOUN
cblr-1695	52	38	on	on	ADP
cblr-1695	52	39	ipo	ipo	NOUN
cblr-1695	52	40	activity	activity	NOUN
cblr-1695	52	41	.	.	PUNCT
cblr-1695	53	1	part	part	NOUN
cblr-1695	53	2	iv	iv	NUM
cblr-1695	53	3	explains	explain	VERB
cblr-1695	53	4	why	why	SCONJ
cblr-1695	53	5	the	the	DET
cblr-1695	53	6	new	new	ADJ
cblr-1695	53	7	sec	sec	PROPN
cblr-1695	53	8	policy	policy	NOUN
cblr-1695	53	9	has	have	AUX
cblr-1695	53	10	failed	fail	VERB
cblr-1695	53	11	to	to	PART
cblr-1695	53	12	increase	increase	VERB
cblr-1695	53	13	the	the	DET
cblr-1695	53	14	number	number	NOUN
cblr-1695	53	15	of	of	ADP
cblr-1695	53	16	ipos	ipos	NOUN
cblr-1695	53	17	,	,	PUNCT
cblr-1695	53	18	but	but	CCONJ
cblr-1695	53	19	argues	argue	VERB
cblr-1695	53	20	that	that	SCONJ
cblr-1695	53	21	ipos	ipos	NOUN
cblr-1695	53	22	of	of	ADP
cblr-1695	53	23	larger	large	ADJ
cblr-1695	53	24	companies	company	NOUN
cblr-1695	53	25	are	be	AUX
cblr-1695	53	26	nonetheless	nonetheless	ADV
cblr-1695	53	27	essential	essential	ADJ
cblr-1695	53	28	to	to	ADP
cblr-1695	53	29	a	a	DET
cblr-1695	53	30	healthy	healthy	ADJ
cblr-1695	53	31	economy	economy	NOUN
cblr-1695	53	32	because	because	SCONJ
cblr-1695	53	33	they	they	PRON
cblr-1695	53	34	raise	raise	VERB
cblr-1695	53	35	much	much	ADV
cblr-1695	53	36	more	more	ADJ
cblr-1695	53	37	capital	capital	NOUN
cblr-1695	53	38	,	,	PUNCT
cblr-1695	53	39	despite	despite	SCONJ
cblr-1695	53	40	having	have	VERB
cblr-1695	53	41	a	a	DET
cblr-1695	53	42	marginal	marginal	ADJ
cblr-1695	53	43	effect	effect	NOUN
cblr-1695	53	44	on	on	ADP
cblr-1695	53	45	the	the	DET
cblr-1695	53	46	overall	overall	ADJ
cblr-1695	53	47	number	number	NOUN
cblr-1695	53	48	of	of	ADP
cblr-1695	53	49	ipos	ipos	PROPN
cblr-1695	53	50	.	.	PUNCT
cblr-1695	54	1	part	part	NOUN
cblr-1695	54	2	iv	iv	NUM
cblr-1695	54	3	then	then	ADV
cblr-1695	54	4	discusses	discuss	VERB
cblr-1695	54	5	the	the	DET
cblr-1695	54	6	threat	threat	NOUN
cblr-1695	54	7	public	public	ADJ
cblr-1695	54	8	markets	market	NOUN
cblr-1695	54	9	face	face	VERB
cblr-1695	54	10	from	from	ADP
cblr-1695	54	11	private	private	ADJ
cblr-1695	54	12	capital	capital	NOUN
cblr-1695	54	13	and	and	CCONJ
cblr-1695	54	14	argues	argue	VERB
cblr-1695	54	15	that	that	SCONJ
cblr-1695	54	16	ipos	ipos	PROPN
cblr-1695	54	17	must	must	AUX
cblr-1695	54	18	prevail	prevail	VERB
cblr-1695	54	19	over	over	ADP
cblr-1695	54	20	such	such	ADJ
cblr-1695	54	21	alternative	alternative	ADJ
cblr-1695	54	22	financing	financing	NOUN
cblr-1695	54	23	options	option	NOUN
cblr-1695	54	24	in	in	ADP
cblr-1695	54	25	order	order	NOUN
cblr-1695	54	26	to	to	PART
cblr-1695	54	27	promote	promote	VERB
cblr-1695	54	28	distributional	distributional	ADJ
cblr-1695	54	29	equality	equality	NOUN
cblr-1695	54	30	in	in	ADP
cblr-1695	54	31	the	the	DET
cblr-1695	54	32	markets	market	NOUN
cblr-1695	54	33	.	.	PUNCT
cblr-1695	55	1	part	part	NOUN
cblr-1695	55	2	v	v	NOUN
cblr-1695	55	3	proposes	propose	VERB
cblr-1695	55	4	new	new	ADJ
cblr-1695	55	5	solutions	solution	NOUN
cblr-1695	55	6	that	that	PRON
cblr-1695	55	7	should	should	AUX
cblr-1695	55	8	be	be	AUX
cblr-1695	55	9	adopted	adopt	VERB
cblr-1695	55	10	to	to	PART
cblr-1695	55	11	properly	properly	ADV
cblr-1695	55	12	stimulate	stimulate	VERB
cblr-1695	55	13	the	the	DET
cblr-1695	55	14	u.s	u.s	PROPN
cblr-1695	55	15	.	.	PROPN
cblr-1695	55	16	public	public	ADJ
cblr-1695	55	17	markets	market	NOUN
cblr-1695	55	18	.	.	PUNCT
cblr-1695	56	1	these	these	PRON
cblr-1695	56	2	include	include	VERB
cblr-1695	56	3	eliminating	eliminate	VERB
cblr-1695	56	4	benefits	benefit	NOUN
cblr-1695	56	5	awarded	award	VERB
cblr-1695	56	6	to	to	ADP
cblr-1695	56	7	private	private	ADJ
cblr-1695	56	8	capital	capital	NOUN
cblr-1695	56	9	,	,	PUNCT
cblr-1695	56	10	temporarily	temporarily	ADV
cblr-1695	56	11	exempting	exempt	VERB
cblr-1695	56	12	new	new	ADJ
cblr-1695	56	13	public	public	ADJ
cblr-1695	56	14	companies	company	NOUN
cblr-1695	56	15	from	from	ADP
cblr-1695	56	16	burdensome	burdensome	ADJ
cblr-1695	56	17	regulations	regulation	NOUN
cblr-1695	56	18	required	require	VERB
cblr-1695	56	19	by	by	ADP
cblr-1695	56	20	the	the	DET
cblr-1695	56	21	sarbanes	sarbanes	PROPN
cblr-1695	56	22	-	-	PUNCT
cblr-1695	56	23	oxley	oxley	ADJ
cblr-1695	56	24	act	act	NOUN
cblr-1695	56	25	and	and	CCONJ
cblr-1695	56	26	other	other	ADJ
cblr-1695	56	27	public	public	ADJ
cblr-1695	56	28	company	company	NOUN
cblr-1695	56	29	compliance	compliance	NOUN
cblr-1695	56	30	statutes	statute	NOUN
cblr-1695	56	31	,	,	PUNCT
cblr-1695	56	32	and	and	CCONJ
cblr-1695	56	33	offering	offer	VERB
cblr-1695	56	34	tax	tax	NOUN
cblr-1695	56	35	credits	credit	NOUN
cblr-1695	56	36	to	to	ADP
cblr-1695	56	37	companies	company	NOUN
cblr-1695	56	38	that	that	PRON
cblr-1695	56	39	conduct	conduct	VERB
cblr-1695	56	40	ipos	ipos	NOUN
cblr-1695	56	41	.	.	PUNCT
cblr-1695	57	1	part	part	NOUN
cblr-1695	57	2	v	v	ADP
cblr-1695	57	3	then	then	ADV
cblr-1695	57	4	calls	call	VERB
cblr-1695	57	5	for	for	ADP
cblr-1695	57	6	abandoning	abandon	VERB
cblr-1695	57	7	the	the	DET
cblr-1695	57	8	confidential	confidential	ADJ
cblr-1695	57	9	review	review	NOUN
cblr-1695	57	10	process	process	NOUN
cblr-1695	57	11	,	,	PUNCT
cblr-1695	57	12	since	since	SCONJ
cblr-1695	57	13	it	it	PRON
cblr-1695	57	14	has	have	VERB
cblr-1695	57	15	yet	yet	ADV
cblr-1695	57	16	to	to	PART
cblr-1695	57	17	conclusively	conclusively	ADV
cblr-1695	57	18	show	show	VERB
cblr-1695	57	19	that	that	SCONJ
cblr-1695	57	20	it	it	PRON
cblr-1695	57	21	increases	increase	VERB
cblr-1695	57	22	ipos	ipos	NOUN
cblr-1695	57	23	,	,	PUNCT
cblr-1695	57	24	in	in	ADP
cblr-1695	57	25	favor	favor	NOUN
cblr-1695	57	26	of	of	ADP
cblr-1695	57	27	greater	great	ADJ
cblr-1695	57	28	disclosure	disclosure	NOUN
cblr-1695	57	29	.	.	PUNCT
cblr-1695	58	1	part	part	NOUN
cblr-1695	58	2	vi	vi	PROPN
cblr-1695	58	3	concludes	conclude	VERB
cblr-1695	58	4	.	.	PUNCT
cblr-1695	59	1	ii	ii	PROPN
cblr-1695	59	2	.	.	PUNCT
cblr-1695	60	1	background	background	NOUN
cblr-1695	60	2	on	on	ADP
cblr-1695	60	3	initial	initial	ADJ
cblr-1695	60	4	public	public	ADJ
cblr-1695	60	5	offerings	offering	NOUN
cblr-1695	60	6	and	and	CCONJ
cblr-1695	60	7	securities	security	NOUN
cblr-1695	60	8	regulation	regulation	NOUN
cblr-1695	60	9	a.	a.	NOUN
cblr-1695	60	10	the	the	DET
cblr-1695	60	11	genesis	genesis	NOUN
cblr-1695	60	12	of	of	ADP
cblr-1695	60	13	a	a	DET
cblr-1695	60	14	company	company	NOUN
cblr-1695	60	15	:	:	PUNCT
cblr-1695	60	16	financing	financing	NOUN
cblr-1695	60	17	options	option	NOUN
cblr-1695	60	18	for	for	ADP
cblr-1695	60	19	entrepreneurs	entrepreneur	NOUN
cblr-1695	60	20	the	the	DET
cblr-1695	60	21	paramount	paramount	ADJ
cblr-1695	60	22	concern	concern	NOUN
cblr-1695	60	23	for	for	ADP
cblr-1695	60	24	an	an	DET
cblr-1695	60	25	entrepreneur	entrepreneur	NOUN
cblr-1695	60	26	starting	start	VERB
cblr-1695	60	27	a	a	DET
cblr-1695	60	28	new	new	ADJ
cblr-1695	60	29	business	business	NOUN
cblr-1695	60	30	venture	venture	NOUN
cblr-1695	60	31	is	be	AUX
cblr-1695	60	32	financing	finance	VERB
cblr-1695	60	33	.	.	PUNCT
cblr-1695	61	1	without	without	ADP
cblr-1695	61	2	access	access	NOUN
cblr-1695	61	3	to	to	ADP
cblr-1695	61	4	cash	cash	NOUN
cblr-1695	61	5	,	,	PUNCT
cblr-1695	61	6	a	a	DET
cblr-1695	61	7	310	310	NUM
cblr-1695	61	8	columbia	columbia	PROPN
cblr-1695	61	9	business	business	NOUN
cblr-1695	61	10	law	law	PROPN
cblr-1695	61	11	review	review	NOUN
cblr-1695	61	12	[	[	X
cblr-1695	61	13	vol	vol	NOUN
cblr-1695	61	14	.	.	PUNCT
cblr-1695	61	15	2019	2019	NUM
cblr-1695	61	16	startup	startup	NOUN
cblr-1695	61	17	will	will	AUX
cblr-1695	61	18	almost	almost	ADV
cblr-1695	61	19	certainly	certainly	ADV
cblr-1695	61	20	fail.8	fail.8	PROPN
cblr-1695	61	21	first	first	ADV
cblr-1695	61	22	,	,	PUNCT
cblr-1695	61	23	entrepreneurs	entrepreneur	NOUN
cblr-1695	61	24	typically	typically	ADV
cblr-1695	61	25	use	use	VERB
cblr-1695	61	26	personal	personal	ADJ
cblr-1695	61	27	finances	finance	NOUN
cblr-1695	61	28	and	and	CCONJ
cblr-1695	61	29	borrow	borrow	VERB
cblr-1695	61	30	money	money	NOUN
cblr-1695	61	31	from	from	ADP
cblr-1695	61	32	family	family	NOUN
cblr-1695	61	33	and	and	CCONJ
cblr-1695	61	34	friends	friend	NOUN
cblr-1695	61	35	to	to	PART
cblr-1695	61	36	fund	fund	VERB
cblr-1695	61	37	their	their	PRON
cblr-1695	61	38	businesses.9	businesses.9	NOUN
cblr-1695	61	39	beyond	beyond	ADP
cblr-1695	61	40	this	this	DET
cblr-1695	61	41	initial	initial	ADJ
cblr-1695	61	42	“	"	PUNCT
cblr-1695	61	43	seed	seed	NOUN
cblr-1695	61	44	round”10	round”10	PROPN
cblr-1695	61	45	of	of	ADP
cblr-1695	61	46	financing	financing	NOUN
cblr-1695	61	47	,	,	PUNCT
cblr-1695	61	48	entrepreneurs	entrepreneur	NOUN
cblr-1695	61	49	must	must	AUX
cblr-1695	61	50	consider	consider	VERB
cblr-1695	61	51	more	more	ADV
cblr-1695	61	52	sophisticated	sophisticated	ADJ
cblr-1695	61	53	sources	source	NOUN
cblr-1695	61	54	of	of	ADP
cblr-1695	61	55	capital	capital	NOUN
cblr-1695	61	56	,	,	PUNCT
cblr-1695	61	57	such	such	ADJ
cblr-1695	61	58	as	as	ADP
cblr-1695	61	59	debt	debt	NOUN
cblr-1695	61	60	financing	financing	NOUN
cblr-1695	61	61	—	—	PUNCT
cblr-1695	61	62	borrowing	borrow	VERB
cblr-1695	61	63	money	money	NOUN
cblr-1695	61	64	with	with	ADP
cblr-1695	61	65	an	an	DET
cblr-1695	61	66	obligation	obligation	NOUN
cblr-1695	61	67	to	to	PART
cblr-1695	61	68	repay	repay	VERB
cblr-1695	61	69	the	the	DET
cblr-1695	61	70	debt	debt	NOUN
cblr-1695	61	71	—	—	PUNCT
cblr-1695	61	72	and	and	CCONJ
cblr-1695	61	73	equity	equity	NOUN
cblr-1695	61	74	financing	financing	NOUN
cblr-1695	61	75	—	—	PUNCT
cblr-1695	61	76	selling	sell	VERB
cblr-1695	61	77	investors	investor	NOUN
cblr-1695	61	78	an	an	DET
cblr-1695	61	79	ownership	ownership	NOUN
cblr-1695	61	80	interest	interest	NOUN
cblr-1695	61	81	in	in	ADP
cblr-1695	61	82	the	the	DET
cblr-1695	61	83	company.11	company.11	NOUN
cblr-1695	61	84	because	because	SCONJ
cblr-1695	61	85	debt	debt	NOUN
cblr-1695	61	86	financing	financing	NOUN
cblr-1695	61	87	is	be	AUX
cblr-1695	61	88	often	often	ADV
cblr-1695	61	89	only	only	ADV
cblr-1695	61	90	available	available	ADJ
cblr-1695	61	91	to	to	ADP
cblr-1695	61	92	companies	company	NOUN
cblr-1695	61	93	with	with	ADP
cblr-1695	61	94	earnings	earning	NOUN
cblr-1695	61	95	and	and	CCONJ
cblr-1695	61	96	assets	asset	NOUN
cblr-1695	61	97	,	,	PUNCT
cblr-1695	61	98	equity	equity	NOUN
cblr-1695	61	99	financing	financing	NOUN
cblr-1695	61	100	is	be	AUX
cblr-1695	61	101	one	one	NUM
cblr-1695	61	102	of	of	ADP
cblr-1695	61	103	the	the	DET
cblr-1695	61	104	most	most	ADV
cblr-1695	61	105	popular	popular	ADJ
cblr-1695	61	106	options	option	NOUN
cblr-1695	61	107	for	for	ADP
cblr-1695	61	108	new	new	ADJ
cblr-1695	61	109	companies.12	companies.12	NOUN
cblr-1695	61	110	there	there	PRON
cblr-1695	61	111	are	be	VERB
cblr-1695	61	112	three	three	NUM
cblr-1695	61	113	major	major	ADJ
cblr-1695	61	114	sources	source	NOUN
cblr-1695	61	115	that	that	PRON
cblr-1695	61	116	provide	provide	VERB
cblr-1695	61	117	such	such	ADJ
cblr-1695	61	118	financing	financing	NOUN
cblr-1695	61	119	:	:	PUNCT
cblr-1695	61	120	(	(	PUNCT
cblr-1695	61	121	1	1	X
cblr-1695	61	122	)	)	PUNCT
cblr-1695	61	123	“	"	PUNCT
cblr-1695	61	124	angels”—successful	angels”—successful	ADJ
cblr-1695	61	125	businesspeople	businesspeople	NOUN
cblr-1695	61	126	with	with	ADP
cblr-1695	61	127	high	high	ADJ
cblr-1695	61	128	net	net	ADJ
cblr-1695	61	129	worth	worth	NOUN
cblr-1695	61	130	;	;	PUNCT
cblr-1695	61	131	(	(	PUNCT
cblr-1695	61	132	2	2	X
cblr-1695	61	133	)	)	PUNCT
cblr-1695	61	134	venture	venture	NOUN
cblr-1695	61	135	capital	capital	NOUN
cblr-1695	61	136	firms	firm	NOUN
cblr-1695	61	137	;	;	PUNCT
cblr-1695	61	138	and	and	CCONJ
cblr-1695	61	139	(	(	PUNCT
cblr-1695	61	140	3	3	X
cblr-1695	61	141	)	)	PUNCT
cblr-1695	61	142	private	private	ADJ
cblr-1695	61	143	equity	equity	NOUN
cblr-1695	61	144	firms.13	firms.13	NOUN
cblr-1695	61	145	however	however	ADV
cblr-1695	61	146	,	,	PUNCT
cblr-1695	61	147	because	because	SCONJ
cblr-1695	61	148	these	these	DET
cblr-1695	61	149	individuals	individual	NOUN
cblr-1695	61	150	and	and	CCONJ
cblr-1695	61	151	entities	entity	NOUN
cblr-1695	61	152	take	take	VERB
cblr-1695	61	153	on	on	ADP
cblr-1695	61	154	high	high	ADJ
cblr-1695	61	155	levels	level	NOUN
cblr-1695	61	156	of	of	ADP
cblr-1695	61	157	risk	risk	NOUN
cblr-1695	61	158	in	in	ADP
cblr-1695	61	159	financing	finance	VERB
cblr-1695	61	160	new	new	ADJ
cblr-1695	61	161	businesses	business	NOUN
cblr-1695	61	162	,	,	PUNCT
cblr-1695	61	163	they	they	PRON
cblr-1695	61	164	typically	typically	ADV
cblr-1695	61	165	will	will	AUX
cblr-1695	61	166	only	only	ADV
cblr-1695	61	167	invest	invest	VERB
cblr-1695	61	168	if	if	SCONJ
cblr-1695	61	169	the	the	DET
cblr-1695	61	170	company	company	NOUN
cblr-1695	61	171	’s	’s	PART
cblr-1695	61	172	predicted	predict	VERB
cblr-1695	61	173	rates	rate	NOUN
cblr-1695	61	174	of	of	ADP
cblr-1695	61	175	return	return	NOUN
cblr-1695	61	176	are	be	AUX
cblr-1695	61	177	high.14	high.14	NOUN
cblr-1695	61	178	as	as	ADP
cblr-1695	61	179	a	a	DET
cblr-1695	61	180	result	result	NOUN
cblr-1695	61	181	,	,	PUNCT
cblr-1695	61	182	8	8	NUM
cblr-1695	61	183	see	see	VERB
cblr-1695	61	184	richard	richard	PROPN
cblr-1695	61	185	a.	a.	PROPN
cblr-1695	61	186	mann	mann	PROPN
cblr-1695	61	187	,	,	PUNCT
cblr-1695	61	188	michael	michael	PROPN
cblr-1695	61	189	o’sullivan	o’sullivan	PROPN
cblr-1695	61	190	,	,	PUNCT
cblr-1695	61	191	larry	larry	PROPN
cblr-1695	61	192	robbins	robbins	PROPN
cblr-1695	61	193	&	&	CCONJ
cblr-1695	61	194	barry	barry	PROPN
cblr-1695	61	195	s.	s.	PROPN
cblr-1695	61	196	roberts	roberts	PROPN
cblr-1695	61	197	,	,	PUNCT
cblr-1695	61	198	starting	start	VERB
cblr-1695	61	199	from	from	ADP
cblr-1695	61	200	scratch	scratch	NOUN
cblr-1695	61	201	:	:	PUNCT
cblr-1695	61	202	a	a	DET
cblr-1695	61	203	lawyer	lawyer	NOUN
cblr-1695	61	204	’s	’s	PART
cblr-1695	61	205	guide	guide	NOUN
cblr-1695	61	206	to	to	ADP
cblr-1695	61	207	representing	represent	VERB
cblr-1695	61	208	a	a	DET
cblr-1695	61	209	startup	startup	ADJ
cblr-1695	61	210	company	company	NOUN
cblr-1695	61	211	,	,	PUNCT
cblr-1695	61	212	56	56	NUM
cblr-1695	61	213	ark	ark	NOUN
cblr-1695	61	214	.	.	PUNCT
cblr-1695	62	1	l.	l.	PROPN
cblr-1695	62	2	rev	rev	PROPN
cblr-1695	62	3	.	.	PROPN
cblr-1695	62	4	773	773	NUM
cblr-1695	62	5	,	,	PUNCT
cblr-1695	62	6	817	817	NUM
cblr-1695	62	7	(	(	PUNCT
cblr-1695	62	8	2004	2004	NUM
cblr-1695	62	9	)	)	PUNCT
cblr-1695	62	10	(	(	PUNCT
cblr-1695	62	11	“	"	PUNCT
cblr-1695	62	12	expenses	expense	NOUN
cblr-1695	62	13	quickly	quickly	ADV
cblr-1695	62	14	add	add	VERB
cblr-1695	62	15	up	up	ADP
cblr-1695	62	16	,	,	PUNCT
cblr-1695	62	17	and	and	CCONJ
cblr-1695	62	18	a	a	DET
cblr-1695	62	19	business	business	NOUN
cblr-1695	62	20	that	that	PRON
cblr-1695	62	21	can	can	AUX
cblr-1695	62	22	not	not	PART
cblr-1695	62	23	manage	manage	VERB
cblr-1695	62	24	its	its	PRON
cblr-1695	62	25	cash	cash	NOUN
cblr-1695	62	26	flow	flow	NOUN
cblr-1695	62	27	will	will	AUX
cblr-1695	62	28	not	not	PART
cblr-1695	62	29	survive	survive	VERB
cblr-1695	62	30	.	.	PUNCT
cblr-1695	62	31	”	"	PUNCT
cblr-1695	62	32	)	)	PUNCT
cblr-1695	62	33	.	.	PUNCT
cblr-1695	63	1	9	9	NUM
cblr-1695	63	2	see	see	VERB
cblr-1695	63	3	i	i	PROPN
cblr-1695	63	4	d.	d.	PROPN
cblr-1695	63	5	at	at	ADP
cblr-1695	63	6	821	821	NUM
cblr-1695	63	7	.	.	PUNCT
cblr-1695	64	1	10	10	NUM
cblr-1695	65	1	i	i	PRON
cblr-1695	65	2	d.	d.	PROPN
cblr-1695	65	3	at	at	ADP
cblr-1695	65	4	822	822	NUM
cblr-1695	65	5	.	.	PUNCT
cblr-1695	66	1	11	11	NUM
cblr-1695	66	2	see	see	VERB
cblr-1695	66	3	i	i	PRON
cblr-1695	66	4	d.	d.	PROPN
cblr-1695	66	5	at	at	ADP
cblr-1695	66	6	817	817	NUM
cblr-1695	66	7	.	.	PUNCT
cblr-1695	67	1	12	12	NUM
cblr-1695	67	2	see	see	VERB
cblr-1695	67	3	i	i	PROPN
cblr-1695	67	4	d.	d.	PROPN
cblr-1695	67	5	13	13	NUM
cblr-1695	68	1	i	i	PRON
cblr-1695	68	2	d.	d.	PROPN
cblr-1695	68	3	at	at	ADP
cblr-1695	68	4	823–25	823–25	NUM
cblr-1695	68	5	;	;	PUNCT
cblr-1695	68	6	see	see	VERB
cblr-1695	68	7	also	also	ADV
cblr-1695	68	8	jesse	jesse	PROPN
cblr-1695	68	9	scott	scott	PROPN
cblr-1695	68	10	,	,	PUNCT
cblr-1695	68	11	note	note	VERB
cblr-1695	68	12	,	,	PUNCT
cblr-1695	68	13	the	the	DET
cblr-1695	68	14	jobs	job	NOUN
cblr-1695	68	15	act	act	NOUN
cblr-1695	68	16	:	:	PUNCT
cblr-1695	68	17	encouraging	encourage	VERB
cblr-1695	68	18	capital	capital	NOUN
cblr-1695	68	19	formation	formation	NOUN
cblr-1695	68	20	but	but	CCONJ
cblr-1695	68	21	not	not	PART
cblr-1695	68	22	ipos	ipos	NOUN
cblr-1695	68	23	,	,	PUNCT
cblr-1695	68	24	7	7	NUM
cblr-1695	68	25	j.	j.	PROPN
cblr-1695	68	26	bus	bus	PROPN
cblr-1695	68	27	.	.	PROPN
cblr-1695	68	28	,	,	PUNCT
cblr-1695	68	29	entrepreneurship	entrepreneurship	NOUN
cblr-1695	68	30	&	&	CCONJ
cblr-1695	68	31	l.	l.	PROPN
cblr-1695	68	32	367	367	NUM
cblr-1695	68	33	,	,	PUNCT
cblr-1695	68	34	368	368	NUM
cblr-1695	68	35	(	(	PUNCT
cblr-1695	68	36	2014	2014	NUM
cblr-1695	68	37	)	)	PUNCT
cblr-1695	68	38	.	.	PUNCT
cblr-1695	69	1	although	although	SCONJ
cblr-1695	69	2	private	private	ADJ
cblr-1695	69	3	equity	equity	NOUN
cblr-1695	69	4	and	and	CCONJ
cblr-1695	69	5	venture	venture	NOUN
cblr-1695	69	6	capital	capital	NOUN
cblr-1695	69	7	overlap	overlap	NOUN
cblr-1695	69	8	somewhat	somewhat	ADV
cblr-1695	69	9	,	,	PUNCT
cblr-1695	69	10	there	there	PRON
cblr-1695	69	11	are	be	VERB
cblr-1695	69	12	key	key	ADJ
cblr-1695	69	13	differences	difference	NOUN
cblr-1695	69	14	between	between	ADP
cblr-1695	69	15	these	these	DET
cblr-1695	69	16	two	two	NUM
cblr-1695	69	17	sources	source	NOUN
cblr-1695	69	18	of	of	ADP
cblr-1695	69	19	funding	funding	NOUN
cblr-1695	69	20	.	.	PUNCT
cblr-1695	70	1	traditionally	traditionally	ADV
cblr-1695	70	2	,	,	PUNCT
cblr-1695	70	3	private	private	ADJ
cblr-1695	70	4	equity	equity	NOUN
cblr-1695	70	5	firms	firm	NOUN
cblr-1695	70	6	invest	invest	VERB
cblr-1695	70	7	in	in	ADP
cblr-1695	70	8	mature	mature	ADJ
cblr-1695	70	9	companies	company	NOUN
cblr-1695	70	10	with	with	ADP
cblr-1695	70	11	established	establish	VERB
cblr-1695	70	12	revenues	revenue	NOUN
cblr-1695	70	13	and	and	CCONJ
cblr-1695	70	14	often	often	ADV
cblr-1695	70	15	seek	seek	VERB
cblr-1695	70	16	a	a	DET
cblr-1695	70	17	majority	majority	NOUN
cblr-1695	70	18	ownership	ownership	NOUN
cblr-1695	70	19	stake	stake	NOUN
cblr-1695	70	20	.	.	PUNCT
cblr-1695	71	1	see	see	VERB
cblr-1695	71	2	alejandro	alejandro	PROPN
cblr-1695	71	3	cremades	cremade	NOUN
cblr-1695	71	4	,	,	PUNCT
cblr-1695	71	5	venture	venture	NOUN
cblr-1695	71	6	capital	capital	NOUN
cblr-1695	71	7	vs.	vs.	ADP
cblr-1695	71	8	private	private	ADJ
cblr-1695	71	9	equity	equity	NOUN
cblr-1695	71	10	:	:	PUNCT
cblr-1695	71	11	understanding	understand	VERB
cblr-1695	71	12	the	the	DET
cblr-1695	71	13	difference	difference	NOUN
cblr-1695	71	14	,	,	PUNCT
cblr-1695	71	15	forbes	forbes	PROPN
cblr-1695	71	16	(	(	PUNCT
cblr-1695	71	17	feb	feb	PROPN
cblr-1695	71	18	.	.	PROPN
cblr-1695	71	19	14	14	NUM
cblr-1695	71	20	,	,	PUNCT
cblr-1695	71	21	2019	2019	NUM
cblr-1695	71	22	)	)	PUNCT
cblr-1695	71	23	,	,	PUNCT
cblr-1695	71	24	https://www.forbes.com/sites/	https://www.forbes.com/sites/	ADV
cblr-1695	71	25	alejandrocremades/2019/02/14	alejandrocremades/2019/02/14	NOUN
cblr-1695	71	26	/	/	SYM
cblr-1695	71	27	venture	venture	NOUN
cblr-1695	71	28	-	-	PUNCT
cblr-1695	71	29	capital	capital	NOUN
cblr-1695	71	30	-	-	PUNCT
cblr-1695	71	31	vs	vs	ADP
cblr-1695	71	32	-	-	ADJ
cblr-1695	71	33	private	private	ADJ
cblr-1695	71	34	-	-	PUNCT
cblr-1695	71	35	equityunderstanding	equityunderstanding	NOUN
cblr-1695	71	36	-	-	PUNCT
cblr-1695	71	37	the	the	DET
cblr-1695	71	38	-	-	PUNCT
cblr-1695	71	39	difference	difference	NOUN
cblr-1695	71	40	[	[	X
cblr-1695	71	41	https://perma.cc/ln5r-dqv5	https://perma.cc/ln5r-dqv5	NOUN
cblr-1695	71	42	]	]	X
cblr-1695	71	43	.	.	PUNCT
cblr-1695	72	1	on	on	ADP
cblr-1695	72	2	the	the	DET
cblr-1695	72	3	contrary	contrary	NOUN
cblr-1695	72	4	,	,	PUNCT
cblr-1695	72	5	venture	venture	NOUN
cblr-1695	72	6	capital	capital	NOUN
cblr-1695	72	7	firms	firm	NOUN
cblr-1695	72	8	invest	invest	VERB
cblr-1695	72	9	at	at	ADP
cblr-1695	72	10	an	an	DET
cblr-1695	72	11	earlier	early	ADJ
cblr-1695	72	12	stage	stage	NOUN
cblr-1695	72	13	of	of	ADP
cblr-1695	72	14	the	the	DET
cblr-1695	72	15	company	company	NOUN
cblr-1695	72	16	’s	’s	PART
cblr-1695	72	17	growth	growth	NOUN
cblr-1695	72	18	and	and	CCONJ
cblr-1695	72	19	seek	seek	VERB
cblr-1695	72	20	a	a	DET
cblr-1695	72	21	smaller	small	ADJ
cblr-1695	72	22	portion	portion	NOUN
cblr-1695	72	23	of	of	ADP
cblr-1695	72	24	the	the	DET
cblr-1695	72	25	overall	overall	ADJ
cblr-1695	72	26	equity	equity	NOUN
cblr-1695	72	27	in	in	ADP
cblr-1695	72	28	order	order	NOUN
cblr-1695	72	29	to	to	PART
cblr-1695	72	30	spread	spread	VERB
cblr-1695	72	31	the	the	DET
cblr-1695	72	32	firm	firm	NOUN
cblr-1695	72	33	’s	’s	PART
cblr-1695	72	34	risk	risk	NOUN
cblr-1695	72	35	exposure	exposure	NOUN
cblr-1695	72	36	.	.	PUNCT
cblr-1695	73	1	i	i	PRON
cblr-1695	73	2	d.	d.	PROPN
cblr-1695	73	3	thus	thus	ADV
cblr-1695	73	4	,	,	PUNCT
cblr-1695	73	5	venture	venture	NOUN
cblr-1695	73	6	capital	capital	NOUN
cblr-1695	73	7	is	be	AUX
cblr-1695	73	8	a	a	DET
cblr-1695	73	9	more	more	ADV
cblr-1695	73	10	likely	likely	ADJ
cblr-1695	73	11	alternative	alternative	NOUN
cblr-1695	73	12	for	for	ADP
cblr-1695	73	13	early	early	ADJ
cblr-1695	73	14	-	-	PUNCT
cblr-1695	73	15	stage	stage	NOUN
cblr-1695	73	16	financing	financing	NOUN
cblr-1695	73	17	for	for	ADP
cblr-1695	73	18	entrepreneurs	entrepreneur	NOUN
cblr-1695	73	19	.	.	PUNCT
cblr-1695	74	1	14	14	NUM
cblr-1695	74	2	see	see	VERB
cblr-1695	74	3	dale	dale	PROPN
cblr-1695	74	4	a.	a.	NOUN
cblr-1695	74	5	oesterle	oesterle	NOUN
cblr-1695	74	6	,	,	PUNCT
cblr-1695	74	7	the	the	DET
cblr-1695	74	8	high	high	ADJ
cblr-1695	74	9	cost	cost	NOUN
cblr-1695	74	10	of	of	ADP
cblr-1695	74	11	ipos	ipos	PROPN
cblr-1695	74	12	depresses	depress	VERB
cblr-1695	74	13	venture	venture	NOUN
cblr-1695	74	14	capital	capital	NOUN
cblr-1695	74	15	in	in	ADP
cblr-1695	74	16	the	the	DET
cblr-1695	74	17	united	united	PROPN
cblr-1695	74	18	states	states	PROPN
cblr-1695	74	19	,	,	PUNCT
cblr-1695	74	20	1	1	NUM
cblr-1695	74	21	entrepreneurial	entrepreneurial	ADJ
cblr-1695	74	22	bus	bus	NOUN
cblr-1695	74	23	.	.	PUNCT
cblr-1695	75	1	l.j	l.j	PROPN
cblr-1695	75	2	.	.	PROPN
cblr-1695	75	3	369	369	NUM
cblr-1695	75	4	,	,	PUNCT
cblr-1695	75	5	369–70	369–70	PROPN
cblr-1695	75	6	no	no	NOUN
cblr-1695	75	7	.	.	PUNCT
cblr-1695	76	1	1:305	1:305	X
cblr-1695	76	2	]	]	X
cblr-1695	76	3	going	go	VERB
cblr-1695	76	4	public	public	ADJ
cblr-1695	76	5	secretly	secretly	ADV
cblr-1695	76	6	311	311	NUM
cblr-1695	76	7	entrepreneurs	entrepreneur	NOUN
cblr-1695	76	8	often	often	ADV
cblr-1695	76	9	plan	plan	VERB
cblr-1695	76	10	exit	exit	NOUN
cblr-1695	76	11	strategies	strategy	NOUN
cblr-1695	76	12	from	from	ADP
cblr-1695	76	13	these	these	DET
cblr-1695	76	14	initial	initial	ADJ
cblr-1695	76	15	financing	financing	NOUN
cblr-1695	76	16	arrangements	arrangement	NOUN
cblr-1695	76	17	,	,	PUNCT
cblr-1695	76	18	the	the	DET
cblr-1695	76	19	most	most	ADV
cblr-1695	76	20	common	common	ADJ
cblr-1695	76	21	of	of	ADP
cblr-1695	76	22	which	which	PRON
cblr-1695	76	23	are	be	AUX
cblr-1695	76	24	a	a	DET
cblr-1695	76	25	merger	merger	NOUN
cblr-1695	76	26	,	,	PUNCT
cblr-1695	76	27	an	an	DET
cblr-1695	76	28	acquisition	acquisition	NOUN
cblr-1695	76	29	,	,	PUNCT
cblr-1695	76	30	or	or	CCONJ
cblr-1695	76	31	an	an	DET
cblr-1695	76	32	ipo.15	ipo.15	NOUN
cblr-1695	76	33	such	such	ADJ
cblr-1695	76	34	exit	exit	NOUN
cblr-1695	76	35	options	option	NOUN
cblr-1695	76	36	—	—	PUNCT
cblr-1695	76	37	particularly	particularly	ADV
cblr-1695	76	38	an	an	DET
cblr-1695	76	39	ipo	ipo	NOUN
cblr-1695	76	40	—	—	PUNCT
cblr-1695	76	41	allow	allow	VERB
cblr-1695	76	42	early	early	ADJ
cblr-1695	76	43	investors	investor	NOUN
cblr-1695	76	44	a	a	DET
cblr-1695	76	45	greater	great	ADJ
cblr-1695	76	46	chance	chance	NOUN
cblr-1695	76	47	of	of	ADP
cblr-1695	76	48	earning	earn	VERB
cblr-1695	76	49	a	a	DET
cblr-1695	76	50	high	high	ADJ
cblr-1695	76	51	return	return	NOUN
cblr-1695	76	52	on	on	ADP
cblr-1695	76	53	their	their	PRON
cblr-1695	76	54	initial	initial	ADJ
cblr-1695	76	55	investment	investment	NOUN
cblr-1695	76	56	in	in	ADP
cblr-1695	76	57	the	the	DET
cblr-1695	76	58	company.16	company.16	PROPN
cblr-1695	76	59	an	an	DET
cblr-1695	76	60	ipo	ipo	NOUN
cblr-1695	76	61	is	be	AUX
cblr-1695	76	62	defined	define	VERB
cblr-1695	76	63	as	as	ADP
cblr-1695	76	64	“	"	PUNCT
cblr-1695	76	65	[	[	X
cblr-1695	76	66	a	a	X
cblr-1695	76	67	]	]	X
cblr-1695	76	68	company	company	NOUN
cblr-1695	76	69	’s	’s	PART
cblr-1695	76	70	first	first	ADJ
cblr-1695	76	71	public	public	ADJ
cblr-1695	76	72	sale	sale	NOUN
cblr-1695	76	73	of	of	ADP
cblr-1695	76	74	stock	stock	NOUN
cblr-1695	76	75	;	;	PUNCT
cblr-1695	76	76	the	the	DET
cblr-1695	76	77	first	first	ADJ
cblr-1695	76	78	offering	offering	NOUN
cblr-1695	76	79	of	of	ADP
cblr-1695	76	80	an	an	DET
cblr-1695	76	81	issuer	issuer	NOUN
cblr-1695	76	82	’s	’s	PART
cblr-1695	76	83	equity	equity	NOUN
cblr-1695	76	84	securities	security	NOUN
cblr-1695	76	85	to	to	ADP
cblr-1695	76	86	the	the	DET
cblr-1695	76	87	public	public	NOUN
cblr-1695	76	88	through	through	ADP
cblr-1695	76	89	a	a	DET
cblr-1695	76	90	registration	registration	NOUN
cblr-1695	76	91	statement	statement	NOUN
cblr-1695	76	92	.	.	PUNCT
cblr-1695	77	1	”17	”17	PROPN
cblr-1695	77	2	through	through	ADP
cblr-1695	77	3	an	an	DET
cblr-1695	77	4	ipo	ipo	NOUN
cblr-1695	77	5	,	,	PUNCT
cblr-1695	77	6	a	a	DET
cblr-1695	77	7	company	company	NOUN
cblr-1695	77	8	moves	move	VERB
cblr-1695	77	9	from	from	ADP
cblr-1695	77	10	being	be	AUX
cblr-1695	77	11	privately	privately	ADV
cblr-1695	77	12	owned18	owned18	ADJ
cblr-1695	77	13	to	to	ADP
cblr-1695	77	14	being	be	AUX
cblr-1695	77	15	(	(	PUNCT
cblr-1695	77	16	2006	2006	NUM
cblr-1695	77	17	)	)	PUNCT
cblr-1695	77	18	(	(	PUNCT
cblr-1695	77	19	“	"	PUNCT
cblr-1695	77	20	the	the	DET
cblr-1695	77	21	willingness	willingness	NOUN
cblr-1695	77	22	of	of	ADP
cblr-1695	77	23	venture	venture	NOUN
cblr-1695	77	24	capitalists	capitalist	NOUN
cblr-1695	77	25	,	,	PUNCT
cblr-1695	77	26	angels	angel	NOUN
cblr-1695	77	27	,	,	PUNCT
cblr-1695	77	28	and	and	CCONJ
cblr-1695	77	29	venture	venture	NOUN
cblr-1695	77	30	capital	capital	NOUN
cblr-1695	77	31	funds	fund	NOUN
cblr-1695	77	32	to	to	PART
cblr-1695	77	33	place	place	VERB
cblr-1695	77	34	funds	fund	NOUN
cblr-1695	77	35	with	with	ADP
cblr-1695	77	36	portfolio	portfolio	NOUN
cblr-1695	77	37	companies	company	NOUN
cblr-1695	77	38	depends	depend	VERB
cblr-1695	77	39	on	on	ADP
cblr-1695	77	40	predictions	prediction	NOUN
cblr-1695	77	41	of	of	ADP
cblr-1695	77	42	high	high	ADJ
cblr-1695	77	43	rates	rate	NOUN
cblr-1695	77	44	of	of	ADP
cblr-1695	77	45	return	return	NOUN
cblr-1695	77	46	for	for	ADP
cblr-1695	77	47	these	these	DET
cblr-1695	77	48	high	high	ADJ
cblr-1695	77	49	risk	risk	NOUN
cblr-1695	77	50	investments	investment	NOUN
cblr-1695	77	51	.	.	PUNCT
cblr-1695	77	52	”	"	PUNCT
cblr-1695	77	53	)	)	PUNCT
cblr-1695	77	54	;	;	PUNCT
cblr-1695	77	55	scott	scott	PROPN
cblr-1695	77	56	,	,	PUNCT
cblr-1695	77	57	supra	supra	PROPN
cblr-1695	77	58	note	note	PROPN
cblr-1695	77	59	13	13	NUM
cblr-1695	77	60	,	,	PUNCT
cblr-1695	77	61	at	at	ADP
cblr-1695	77	62	368	368	NUM
cblr-1695	77	63	(	(	PUNCT
cblr-1695	77	64	noting	note	VERB
cblr-1695	77	65	that	that	SCONJ
cblr-1695	77	66	angel	angel	NOUN
cblr-1695	77	67	investors	investor	NOUN
cblr-1695	77	68	,	,	PUNCT
cblr-1695	77	69	venture	venture	NOUN
cblr-1695	77	70	capitalists	capitalist	NOUN
cblr-1695	77	71	,	,	PUNCT
cblr-1695	77	72	and	and	CCONJ
cblr-1695	77	73	private	private	ADJ
cblr-1695	77	74	equity	equity	NOUN
cblr-1695	77	75	firms	firm	NOUN
cblr-1695	77	76	“	"	PUNCT
cblr-1695	77	77	require	require	VERB
cblr-1695	77	78	high	high	ADJ
cblr-1695	77	79	rates	rate	NOUN
cblr-1695	77	80	of	of	ADP
cblr-1695	77	81	return	return	NOUN
cblr-1695	77	82	for	for	ADP
cblr-1695	77	83	the	the	DET
cblr-1695	77	84	high	high	ADJ
cblr-1695	77	85	risk	risk	NOUN
cblr-1695	77	86	of	of	ADP
cblr-1695	77	87	the	the	DET
cblr-1695	77	88	investment	investment	NOUN
cblr-1695	77	89	.	.	PUNCT
cblr-1695	77	90	”	"	PUNCT
cblr-1695	77	91	)	)	PUNCT
cblr-1695	77	92	.	.	PUNCT
cblr-1695	78	1	15	15	NUM
cblr-1695	78	2	see	see	VERB
cblr-1695	78	3	mann	mann	PROPN
cblr-1695	78	4	et	et	PROPN
cblr-1695	78	5	al	al	PROPN
cblr-1695	78	6	.	.	PROPN
cblr-1695	78	7	,	,	PUNCT
cblr-1695	78	8	supra	supra	PROPN
cblr-1695	78	9	note	note	PROPN
cblr-1695	78	10	8	8	NUM
cblr-1695	78	11	,	,	PUNCT
cblr-1695	78	12	at	at	ADP
cblr-1695	78	13	839	839	NUM
cblr-1695	78	14	;	;	PUNCT
cblr-1695	78	15	scott	scott	PROPN
cblr-1695	78	16	,	,	PUNCT
cblr-1695	78	17	supra	supra	PROPN
cblr-1695	78	18	note	note	PROPN
cblr-1695	78	19	13	13	NUM
cblr-1695	78	20	,	,	PUNCT
cblr-1695	78	21	at	at	ADP
cblr-1695	78	22	368	368	NUM
cblr-1695	78	23	.	.	PUNCT
cblr-1695	79	1	16	16	NUM
cblr-1695	79	2	see	see	VERB
cblr-1695	79	3	oesterle	oesterle	NOUN
cblr-1695	79	4	,	,	PUNCT
cblr-1695	79	5	supra	supra	NOUN
cblr-1695	79	6	note	note	NOUN
cblr-1695	79	7	14	14	NUM
cblr-1695	79	8	,	,	PUNCT
cblr-1695	79	9	at	at	ADP
cblr-1695	79	10	370	370	NUM
cblr-1695	79	11	.	.	PUNCT
cblr-1695	80	1	in	in	ADP
cblr-1695	80	2	many	many	ADJ
cblr-1695	80	3	cases	case	NOUN
cblr-1695	80	4	,	,	PUNCT
cblr-1695	80	5	a	a	DET
cblr-1695	80	6	well	well	ADV
cblr-1695	80	7	-	-	PUNCT
cblr-1695	80	8	thoughtout	thoughtout	NOUN
cblr-1695	80	9	exit	exit	NOUN
cblr-1695	80	10	strategy	strategy	NOUN
cblr-1695	80	11	will	will	AUX
cblr-1695	80	12	actually	actually	ADV
cblr-1695	80	13	increase	increase	VERB
cblr-1695	80	14	the	the	DET
cblr-1695	80	15	likelihood	likelihood	NOUN
cblr-1695	80	16	of	of	ADP
cblr-1695	80	17	early	early	ADJ
cblr-1695	80	18	-	-	PUNCT
cblr-1695	80	19	stage	stage	NOUN
cblr-1695	80	20	investment	investment	NOUN
cblr-1695	80	21	.	.	PUNCT
cblr-1695	81	1	see	see	VERB
cblr-1695	81	2	,	,	PUNCT
cblr-1695	81	3	e.g.	e.g.	ADV
cblr-1695	81	4	,	,	PUNCT
cblr-1695	81	5	j.	j.	PROPN
cblr-1695	81	6	william	william	PROPN
cblr-1695	81	7	callison	callison	PROPN
cblr-1695	81	8	,	,	PUNCT
cblr-1695	81	9	venture	venture	NOUN
cblr-1695	81	10	capital	capital	NOUN
cblr-1695	81	11	and	and	CCONJ
cblr-1695	81	12	corporate	corporate	ADJ
cblr-1695	81	13	governance	governance	NOUN
cblr-1695	81	14	:	:	PUNCT
cblr-1695	81	15	evolving	evolve	VERB
cblr-1695	81	16	the	the	DET
cblr-1695	81	17	limited	limited	ADJ
cblr-1695	81	18	liability	liability	NOUN
cblr-1695	81	19	company	company	NOUN
cblr-1695	81	20	to	to	PART
cblr-1695	81	21	finance	finance	VERB
cblr-1695	81	22	the	the	DET
cblr-1695	81	23	entrepreneurial	entrepreneurial	ADJ
cblr-1695	81	24	business	business	NOUN
cblr-1695	81	25	,	,	PUNCT
cblr-1695	81	26	26	26	NUM
cblr-1695	81	27	j.	j.	PROPN
cblr-1695	81	28	corp	corp	PROPN
cblr-1695	81	29	.	.	PROPN
cblr-1695	81	30	l.	l.	PROPN
cblr-1695	81	31	97	97	NUM
cblr-1695	81	32	,	,	PUNCT
cblr-1695	81	33	109	109	NUM
cblr-1695	81	34	(	(	PUNCT
cblr-1695	81	35	2000	2000	NUM
cblr-1695	81	36	)	)	PUNCT
cblr-1695	81	37	(	(	PUNCT
cblr-1695	81	38	“	"	PUNCT
cblr-1695	81	39	[	[	X
cblr-1695	81	40	t]he	t]he	ADJ
cblr-1695	81	41	existence	existence	NOUN
cblr-1695	81	42	of	of	ADP
cblr-1695	81	43	a	a	DET
cblr-1695	81	44	clearly	clearly	ADV
cblr-1695	81	45	defined	define	VERB
cblr-1695	81	46	exit	exit	NOUN
cblr-1695	81	47	strategy	strategy	NOUN
cblr-1695	81	48	is	be	AUX
cblr-1695	81	49	critical	critical	ADJ
cblr-1695	81	50	to	to	ADP
cblr-1695	81	51	the	the	DET
cblr-1695	81	52	venture	venture	NOUN
cblr-1695	81	53	capitalist	capitalist	NOUN
cblr-1695	81	54	’s	’s	PART
cblr-1695	81	55	investment	investment	NOUN
cblr-1695	82	1	[	[	X
cblr-1695	82	2	.	.	X
cblr-1695	82	3	]	]	X
cblr-1695	82	4	”	"	PUNCT
cblr-1695	82	5	)	)	PUNCT
cblr-1695	82	6	;	;	PUNCT
cblr-1695	82	7	see	see	VERB
cblr-1695	82	8	also	also	ADV
cblr-1695	82	9	mann	mann	PROPN
cblr-1695	82	10	et	et	PROPN
cblr-1695	82	11	al	al	PROPN
cblr-1695	82	12	.	.	PROPN
cblr-1695	82	13	,	,	PUNCT
cblr-1695	82	14	supra	supra	PROPN
cblr-1695	82	15	note	note	PROPN
cblr-1695	82	16	8	8	NUM
cblr-1695	82	17	,	,	PUNCT
cblr-1695	82	18	at	at	ADP
cblr-1695	82	19	839	839	NUM
cblr-1695	82	20	(	(	PUNCT
cblr-1695	82	21	“	"	PUNCT
cblr-1695	82	22	today	today	NOUN
cblr-1695	82	23	’s	’s	PART
cblr-1695	82	24	investors	investor	NOUN
cblr-1695	82	25	,	,	PUNCT
cblr-1695	82	26	especially	especially	ADV
cblr-1695	82	27	venture	venture	NOUN
cblr-1695	82	28	capitalists	capitalist	NOUN
cblr-1695	82	29	,	,	PUNCT
cblr-1695	82	30	place	place	VERB
cblr-1695	82	31	a	a	DET
cblr-1695	82	32	premium	premium	NOUN
cblr-1695	82	33	on	on	ADP
cblr-1695	82	34	ventures	venture	NOUN
cblr-1695	82	35	with	with	ADP
cblr-1695	82	36	leaders	leader	NOUN
cblr-1695	82	37	who	who	PRON
cblr-1695	82	38	have	have	AUX
cblr-1695	82	39	planned	plan	VERB
cblr-1695	82	40	for	for	ADP
cblr-1695	82	41	the	the	DET
cblr-1695	82	42	future	future	NOUN
cblr-1695	82	43	.	.	PUNCT
cblr-1695	82	44	”	"	PUNCT
cblr-1695	82	45	)	)	PUNCT
cblr-1695	82	46	.	.	PUNCT
cblr-1695	83	1	17	17	NUM
cblr-1695	83	2	initial	initial	ADJ
cblr-1695	83	3	public	public	ADJ
cblr-1695	83	4	offering	offering	NOUN
cblr-1695	83	5	,	,	PUNCT
cblr-1695	83	6	black	black	NOUN
cblr-1695	83	7	’s	’s	PART
cblr-1695	83	8	law	law	NOUN
cblr-1695	83	9	dictionary	dictionary	NOUN
cblr-1695	83	10	(	(	PUNCT
cblr-1695	83	11	10th	10th	ADJ
cblr-1695	83	12	ed	ed	NOUN
cblr-1695	83	13	.	.	PROPN
cblr-1695	83	14	2014	2014	NUM
cblr-1695	83	15	)	)	PUNCT
cblr-1695	83	16	;	;	PUNCT
cblr-1695	83	17	see	see	VERB
cblr-1695	83	18	also	also	ADV
cblr-1695	83	19	initial	initial	ADJ
cblr-1695	83	20	public	public	ADJ
cblr-1695	83	21	offering	offering	NOUN
cblr-1695	83	22	(	(	PUNCT
cblr-1695	83	23	ipo	ipo	PROPN
cblr-1695	83	24	)	)	PUNCT
cblr-1695	83	25	,	,	PUNCT
cblr-1695	83	26	u.s	u.s	PROPN
cblr-1695	83	27	.	.	PROPN
cblr-1695	83	28	sec	sec	PROPN
cblr-1695	83	29	.	.	PROPN
cblr-1695	83	30	&	&	CCONJ
cblr-1695	83	31	exchange	exchange	PROPN
cblr-1695	83	32	commission	commission	PROPN
cblr-1695	83	33	,	,	PUNCT
cblr-1695	83	34	https://www.sec.gov/fast-answers/answersipohtm.html	https://www.sec.gov/fast-answers/answersipohtm.html	PROPN
cblr-1695	83	35	[	[	X
cblr-1695	83	36	https://perma.cc/	https://perma.cc/	PROPN
cblr-1695	83	37	qz4d	qz4d	NOUN
cblr-1695	83	38	-	-	NOUN
cblr-1695	83	39	jdvp	jdvp	ADJ
cblr-1695	83	40	]	]	X
cblr-1695	83	41	(	(	PUNCT
cblr-1695	83	42	last	last	ADJ
cblr-1695	83	43	modified	modify	VERB
cblr-1695	83	44	may	may	AUX
cblr-1695	83	45	31	31	NUM
cblr-1695	83	46	,	,	PUNCT
cblr-1695	83	47	2013	2013	NUM
cblr-1695	83	48	)	)	PUNCT
cblr-1695	83	49	(	(	PUNCT
cblr-1695	83	50	defining	define	VERB
cblr-1695	83	51	an	an	DET
cblr-1695	83	52	ipo	ipo	NOUN
cblr-1695	83	53	as	as	ADP
cblr-1695	83	54	“	"	PUNCT
cblr-1695	83	55	when	when	SCONJ
cblr-1695	83	56	a	a	DET
cblr-1695	83	57	company	company	NOUN
cblr-1695	83	58	first	first	ADV
cblr-1695	83	59	sells	sell	VERB
cblr-1695	83	60	its	its	PRON
cblr-1695	83	61	shares	share	NOUN
cblr-1695	83	62	to	to	ADP
cblr-1695	83	63	the	the	DET
cblr-1695	83	64	public	public	NOUN
cblr-1695	83	65	”	"	PUNCT
cblr-1695	83	66	)	)	PUNCT
cblr-1695	83	67	.	.	PUNCT
cblr-1695	84	1	18	18	NUM
cblr-1695	84	2	private	private	ADJ
cblr-1695	84	3	ownership	ownership	NOUN
cblr-1695	84	4	is	be	AUX
cblr-1695	84	5	typically	typically	ADV
cblr-1695	84	6	defined	define	VERB
cblr-1695	84	7	in	in	ADP
cblr-1695	84	8	the	the	DET
cblr-1695	84	9	contrapositive	contrapositive	NOUN
cblr-1695	84	10	—	—	PUNCT
cblr-1695	84	11	that	that	ADV
cblr-1695	84	12	is	is	ADV
cblr-1695	84	13	,	,	PUNCT
cblr-1695	84	14	any	any	DET
cblr-1695	84	15	company	company	NOUN
cblr-1695	84	16	that	that	PRON
cblr-1695	84	17	is	be	AUX
cblr-1695	84	18	not	not	PART
cblr-1695	84	19	publicly	publicly	ADV
cblr-1695	84	20	traded	trade	VERB
cblr-1695	84	21	.	.	PUNCT
cblr-1695	85	1	see	see	VERB
cblr-1695	85	2	,	,	PUNCT
cblr-1695	85	3	e.g.	e.g.	ADV
cblr-1695	85	4	,	,	PUNCT
cblr-1695	85	5	private	private	ADJ
cblr-1695	85	6	company	company	NOUN
cblr-1695	85	7	,	,	PUNCT
cblr-1695	85	8	investopedia	investopedia	PROPN
cblr-1695	85	9	,	,	PUNCT
cblr-1695	85	10	https://www.investopedia.com/terms/p/privatecompany.asp	https://www.investopedia.com/terms/p/privatecompany.asp	X
cblr-1695	85	11	[	[	X
cblr-1695	85	12	https://perma.cc/l4jl-m6r8	https://perma.cc/l4jl-m6r8	X
cblr-1695	85	13	]	]	X
cblr-1695	85	14	(	(	PUNCT
cblr-1695	85	15	last	last	ADJ
cblr-1695	85	16	updated	update	VERB
cblr-1695	85	17	mar	mar	PROPN
cblr-1695	85	18	.	.	PROPN
cblr-1695	85	19	28	28	NUM
cblr-1695	85	20	,	,	PUNCT
cblr-1695	85	21	2018	2018	NUM
cblr-1695	85	22	)	)	PUNCT
cblr-1695	85	23	(	(	PUNCT
cblr-1695	85	24	“	"	PUNCT
cblr-1695	85	25	private	private	ADJ
cblr-1695	85	26	companies	company	NOUN
cblr-1695	85	27	may	may	AUX
cblr-1695	85	28	issue	issue	VERB
cblr-1695	85	29	stock	stock	NOUN
cblr-1695	85	30	and	and	CCONJ
cblr-1695	85	31	have	have	VERB
cblr-1695	85	32	shareholders	shareholder	NOUN
cblr-1695	85	33	,	,	PUNCT
cblr-1695	85	34	but	but	CCONJ
cblr-1695	85	35	their	their	PRON
cblr-1695	85	36	shares	share	NOUN
cblr-1695	85	37	do	do	AUX
cblr-1695	85	38	not	not	PART
cblr-1695	85	39	trade	trade	VERB
cblr-1695	85	40	on	on	ADP
cblr-1695	85	41	public	public	ADJ
cblr-1695	85	42	exchanges	exchange	NOUN
cblr-1695	85	43	and	and	CCONJ
cblr-1695	85	44	are	be	AUX
cblr-1695	85	45	not	not	PART
cblr-1695	85	46	issued	issue	VERB
cblr-1695	85	47	through	through	ADP
cblr-1695	85	48	an	an	DET
cblr-1695	85	49	initial	initial	ADJ
cblr-1695	85	50	public	public	ADJ
cblr-1695	85	51	offering	offering	NOUN
cblr-1695	85	52	[	[	X
cblr-1695	85	53	.	.	X
cblr-1695	85	54	]	]	X
cblr-1695	85	55	”	"	PUNCT
cblr-1695	85	56	)	)	PUNCT
cblr-1695	85	57	.	.	PUNCT
cblr-1695	86	1	for	for	ADP
cblr-1695	86	2	an	an	DET
cblr-1695	86	3	early	early	ADJ
cblr-1695	86	4	definition	definition	NOUN
cblr-1695	86	5	of	of	ADP
cblr-1695	86	6	a	a	DET
cblr-1695	86	7	private	private	ADJ
cblr-1695	86	8	company	company	NOUN
cblr-1695	86	9	,	,	PUNCT
cblr-1695	86	10	see	see	VERB
cblr-1695	86	11	edward	edward	PROPN
cblr-1695	86	12	manson	manson	PROPN
cblr-1695	86	13	,	,	PUNCT
cblr-1695	86	14	the	the	DET
cblr-1695	86	15	evolution	evolution	NOUN
cblr-1695	86	16	of	of	ADP
cblr-1695	86	17	the	the	DET
cblr-1695	86	18	private	private	ADJ
cblr-1695	86	19	company	company	NOUN
cblr-1695	86	20	,	,	PUNCT
cblr-1695	86	21	26	26	NUM
cblr-1695	86	22	l.q	l.q	PROPN
cblr-1695	86	23	.	.	PROPN
cblr-1695	86	24	rev	rev	PROPN
cblr-1695	86	25	.	.	PROPN
cblr-1695	86	26	11	11	NUM
cblr-1695	86	27	,	,	PUNCT
cblr-1695	86	28	13	13	NUM
cblr-1695	86	29	(	(	PUNCT
cblr-1695	86	30	1910	1910	NUM
cblr-1695	86	31	)	)	PUNCT
cblr-1695	86	32	(	(	PUNCT
cblr-1695	86	33	“	"	PUNCT
cblr-1695	86	34	a	a	DET
cblr-1695	86	35	small	small	ADJ
cblr-1695	86	36	company	company	NOUN
cblr-1695	86	37	which	which	PRON
cblr-1695	86	38	does	do	AUX
cblr-1695	86	39	not	not	PART
cblr-1695	86	40	go	go	VERB
cblr-1695	86	41	to	to	ADP
cblr-1695	86	42	the	the	DET
cblr-1695	86	43	public	public	NOUN
cblr-1695	86	44	for	for	ADP
cblr-1695	86	45	its	its	PRON
cblr-1695	86	46	capital	capital	NOUN
cblr-1695	86	47	,	,	PUNCT
cblr-1695	86	48	and	and	CCONJ
cblr-1695	86	49	keeps	keep	VERB
cblr-1695	86	50	its	its	PRON
cblr-1695	86	51	shares	share	NOUN
cblr-1695	86	52	in	in	ADP
cblr-1695	86	53	a	a	DET
cblr-1695	86	54	few	few	ADJ
cblr-1695	86	55	hands	hand	NOUN
cblr-1695	86	56	.	.	PUNCT
cblr-1695	86	57	”	"	PUNCT
cblr-1695	86	58	)	)	PUNCT
cblr-1695	86	59	.	.	PUNCT
cblr-1695	87	1	because	because	SCONJ
cblr-1695	87	2	of	of	ADP
cblr-1695	87	3	the	the	DET
cblr-1695	87	4	variety	variety	NOUN
cblr-1695	87	5	of	of	ADP
cblr-1695	87	6	forms	form	NOUN
cblr-1695	87	7	business	business	NOUN
cblr-1695	87	8	entities	entity	NOUN
cblr-1695	87	9	take	take	VERB
cblr-1695	87	10	,	,	PUNCT
cblr-1695	87	11	the	the	DET
cblr-1695	87	12	difference	difference	NOUN
cblr-1695	87	13	between	between	ADP
cblr-1695	87	14	private	private	ADJ
cblr-1695	87	15	and	and	CCONJ
cblr-1695	87	16	public	public	ADJ
cblr-1695	87	17	companies	company	NOUN
cblr-1695	87	18	is	be	AUX
cblr-1695	87	19	better	well	ADV
cblr-1695	87	20	captured	capture	VERB
cblr-1695	87	21	by	by	ADP
cblr-1695	87	22	the	the	DET
cblr-1695	87	23	distinction	distinction	NOUN
cblr-1695	87	24	between	between	ADP
cblr-1695	87	25	“	"	PUNCT
cblr-1695	87	26	closely	closely	ADV
cblr-1695	87	27	held	held	ADJ
cblr-1695	87	28	”	"	PUNCT
cblr-1695	87	29	businesses	business	NOUN
cblr-1695	87	30	,	,	PUNCT
cblr-1695	87	31	such	such	ADJ
cblr-1695	87	32	as	as	ADP
cblr-1695	87	33	the	the	DET
cblr-1695	87	34	close	close	ADJ
cblr-1695	87	35	corporation	corporation	NOUN
cblr-1695	87	36	,	,	PUNCT
cblr-1695	87	37	and	and	CCONJ
cblr-1695	87	38	“	"	PUNCT
cblr-1695	87	39	publicly	publicly	ADV
cblr-1695	87	40	held	hold	VERB
cblr-1695	87	41	”	"	PUNCT
cblr-1695	87	42	businesses	business	NOUN
cblr-1695	87	43	.	.	PUNCT
cblr-1695	88	1	two	two	NUM
cblr-1695	88	2	defining	define	VERB
cblr-1695	88	3	characteristics	characteristic	NOUN
cblr-1695	88	4	of	of	ADP
cblr-1695	88	5	312	312	NUM
cblr-1695	88	6	columbia	columbia	PROPN
cblr-1695	88	7	business	business	NOUN
cblr-1695	88	8	law	law	PROPN
cblr-1695	88	9	review	review	NOUN
cblr-1695	88	10	[	[	X
cblr-1695	88	11	vol	vol	NOUN
cblr-1695	88	12	.	.	NOUN
cblr-1695	88	13	2019	2019	NUM
cblr-1695	88	14	owned	own	VERB
cblr-1695	88	15	,	,	PUNCT
cblr-1695	88	16	at	at	ADP
cblr-1695	88	17	least	least	ADJ
cblr-1695	88	18	in	in	ADP
cblr-1695	88	19	part	part	NOUN
cblr-1695	88	20	,	,	PUNCT
cblr-1695	88	21	by	by	ADP
cblr-1695	88	22	the	the	DET
cblr-1695	88	23	public	public	ADJ
cblr-1695	88	24	investment	investment	NOUN
cblr-1695	88	25	community.19	community.19	NOUN
cblr-1695	88	26	as	as	ADP
cblr-1695	88	27	such	such	ADJ
cblr-1695	88	28	,	,	PUNCT
cblr-1695	88	29	an	an	DET
cblr-1695	88	30	ipo	ipo	NOUN
cblr-1695	88	31	is	be	AUX
cblr-1695	88	32	commonly	commonly	ADV
cblr-1695	88	33	referred	refer	VERB
cblr-1695	88	34	to	to	ADP
cblr-1695	88	35	as	as	ADP
cblr-1695	88	36	“	"	PUNCT
cblr-1695	88	37	going	go	VERB
cblr-1695	88	38	public	public	ADJ
cblr-1695	88	39	”	"	PUNCT
cblr-1695	88	40	and	and	CCONJ
cblr-1695	88	41	usually	usually	ADV
cblr-1695	88	42	means	mean	VERB
cblr-1695	88	43	listing	list	VERB
cblr-1695	88	44	the	the	DET
cblr-1695	88	45	company	company	NOUN
cblr-1695	88	46	’s	’s	PART
cblr-1695	88	47	stock	stock	NOUN
cblr-1695	88	48	on	on	ADP
cblr-1695	88	49	the	the	DET
cblr-1695	88	50	new	new	PROPN
cblr-1695	88	51	york	york	PROPN
cblr-1695	88	52	stock	stock	PROPN
cblr-1695	88	53	exchange	exchange	PROPN
cblr-1695	88	54	(	(	PUNCT
cblr-1695	88	55	nyse	nyse	PROPN
cblr-1695	88	56	)	)	PUNCT
cblr-1695	88	57	or	or	CCONJ
cblr-1695	88	58	the	the	DET
cblr-1695	88	59	nasdaq	nasdaq	NOUN
cblr-1695	88	60	—	—	PUNCT
cblr-1695	88	61	the	the	DET
cblr-1695	88	62	two	two	NUM
cblr-1695	88	63	major	major	ADJ
cblr-1695	88	64	stock	stock	NOUN
cblr-1695	88	65	markets	market	NOUN
cblr-1695	88	66	in	in	ADP
cblr-1695	88	67	the	the	DET
cblr-1695	88	68	united	united	PROPN
cblr-1695	88	69	states	states	PROPN
cblr-1695	88	70	—	—	PUNCT
cblr-1695	88	71	for	for	ADP
cblr-1695	88	72	the	the	DET
cblr-1695	88	73	public	public	NOUN
cblr-1695	88	74	to	to	ADP
cblr-1695	88	75	purchase.20	purchase.20	PROPN
cblr-1695	88	76	b.	b.	PROPN
cblr-1695	88	77	going	go	VERB
cblr-1695	88	78	public	public	ADJ
cblr-1695	88	79	:	:	PUNCT
cblr-1695	88	80	the	the	DET
cblr-1695	88	81	advantages	advantage	NOUN
cblr-1695	88	82	and	and	CCONJ
cblr-1695	88	83	disadvantages	disadvantage	NOUN
cblr-1695	88	84	1	1	NUM
cblr-1695	88	85	.	.	PUNCT
cblr-1695	89	1	the	the	DET
cblr-1695	89	2	advantages	advantage	NOUN
cblr-1695	89	3	of	of	ADP
cblr-1695	89	4	an	an	DET
cblr-1695	89	5	ipo	ipo	NOUN
cblr-1695	89	6	there	there	PRON
cblr-1695	89	7	are	be	VERB
cblr-1695	89	8	many	many	ADJ
cblr-1695	89	9	advantages	advantage	NOUN
cblr-1695	89	10	to	to	ADP
cblr-1695	89	11	executing	execute	VERB
cblr-1695	89	12	an	an	DET
cblr-1695	89	13	ipo	ipo	NOUN
cblr-1695	89	14	that	that	PRON
cblr-1695	89	15	continue	continue	VERB
cblr-1695	89	16	to	to	PART
cblr-1695	89	17	make	make	VERB
cblr-1695	89	18	this	this	DET
cblr-1695	89	19	option	option	NOUN
cblr-1695	89	20	attractive	attractive	ADJ
cblr-1695	89	21	to	to	ADP
cblr-1695	89	22	businesspeople	businesspeople	NOUN
cblr-1695	89	23	today	today	NOUN
cblr-1695	89	24	.	.	PUNCT
cblr-1695	90	1	an	an	DET
cblr-1695	90	2	ipo	ipo	NOUN
cblr-1695	90	3	provides	provide	VERB
cblr-1695	90	4	a	a	DET
cblr-1695	90	5	company	company	NOUN
cblr-1695	90	6	with	with	ADP
cblr-1695	90	7	capital	capital	NOUN
cblr-1695	90	8	,	,	PUNCT
cblr-1695	90	9	which	which	PRON
cblr-1695	90	10	can	can	AUX
cblr-1695	90	11	be	be	AUX
cblr-1695	90	12	used	use	VERB
cblr-1695	90	13	for	for	ADP
cblr-1695	90	14	business	business	NOUN
cblr-1695	90	15	expansion	expansion	NOUN
cblr-1695	90	16	,	,	PUNCT
cblr-1695	90	17	operating	operating	NOUN
cblr-1695	90	18	expenses	expense	NOUN
cblr-1695	90	19	,	,	PUNCT
cblr-1695	90	20	and	and	CCONJ
cblr-1695	90	21	any	any	DET
cblr-1695	90	22	other	other	ADJ
cblr-1695	90	23	corporate	corporate	ADJ
cblr-1695	90	24	purpose.21	purpose.21	NOUN
cblr-1695	90	25	an	an	DET
cblr-1695	90	26	ipo	ipo	NOUN
cblr-1695	90	27	also	also	ADV
cblr-1695	90	28	provides	provide	VERB
cblr-1695	90	29	costless	costless	NOUN
cblr-1695	90	30	liquidity	liquidity	NOUN
cblr-1695	90	31	because	because	SCONJ
cblr-1695	90	32	,	,	PUNCT
cblr-1695	90	33	unlike	unlike	ADP
cblr-1695	90	34	shareholders	shareholder	NOUN
cblr-1695	90	35	in	in	ADP
cblr-1695	90	36	a	a	DET
cblr-1695	90	37	closely	closely	ADV
cblr-1695	90	38	held	hold	VERB
cblr-1695	90	39	corporation	corporation	NOUN
cblr-1695	90	40	,	,	PUNCT
cblr-1695	90	41	public	public	ADJ
cblr-1695	90	42	company	company	NOUN
cblr-1695	90	43	investors	investor	NOUN
cblr-1695	90	44	have	have	VERB
cblr-1695	90	45	access	access	NOUN
cblr-1695	90	46	to	to	ADP
cblr-1695	90	47	public	public	ADJ
cblr-1695	90	48	markets	market	NOUN
cblr-1695	90	49	through	through	ADP
cblr-1695	90	50	which	which	PRON
cblr-1695	90	51	they	they	PRON
cblr-1695	90	52	can	can	AUX
cblr-1695	90	53	sell	sell	VERB
cblr-1695	90	54	their	their	PRON
cblr-1695	90	55	shares	share	NOUN
cblr-1695	90	56	at	at	ADP
cblr-1695	90	57	any	any	DET
cblr-1695	90	58	time	time	NOUN
cblr-1695	90	59	,	,	PUNCT
cblr-1695	90	60	for	for	ADP
cblr-1695	90	61	any	any	DET
cblr-1695	90	62	purpose.22	purpose.22	NOUN
cblr-1695	90	63	further	far	ADV
cblr-1695	90	64	,	,	PUNCT
cblr-1695	90	65	ipos	ipos	NOUN
cblr-1695	90	66	increase	increase	VERB
cblr-1695	90	67	the	the	DET
cblr-1695	90	68	valuation	valuation	NOUN
cblr-1695	90	69	of	of	ADP
cblr-1695	90	70	a	a	DET
cblr-1695	90	71	closely	closely	ADV
cblr-1695	90	72	held	hold	VERB
cblr-1695	90	73	businesses	business	NOUN
cblr-1695	90	74	are	be	AUX
cblr-1695	90	75	:	:	PUNCT
cblr-1695	90	76	(	(	PUNCT
cblr-1695	90	77	1	1	X
cblr-1695	90	78	)	)	PUNCT
cblr-1695	90	79	they	they	PRON
cblr-1695	90	80	typically	typically	ADV
cblr-1695	90	81	have	have	VERB
cblr-1695	90	82	few	few	ADJ
cblr-1695	90	83	owners	owner	NOUN
cblr-1695	90	84	,	,	PUNCT
cblr-1695	90	85	most	most	ADJ
cblr-1695	90	86	of	of	ADP
cblr-1695	90	87	whom	whom	PRON
cblr-1695	90	88	are	be	AUX
cblr-1695	90	89	actively	actively	ADV
cblr-1695	90	90	involved	involve	VERB
cblr-1695	90	91	in	in	ADP
cblr-1695	90	92	managing	manage	VERB
cblr-1695	90	93	the	the	DET
cblr-1695	90	94	business	business	NOUN
cblr-1695	90	95	;	;	PUNCT
cblr-1695	90	96	and	and	CCONJ
cblr-1695	90	97	(	(	PUNCT
cblr-1695	90	98	2	2	X
cblr-1695	90	99	)	)	PUNCT
cblr-1695	90	100	the	the	DET
cblr-1695	90	101	owners	owner	NOUN
cblr-1695	90	102	have	have	VERB
cblr-1695	90	103	little	little	ADJ
cblr-1695	90	104	or	or	CCONJ
cblr-1695	90	105	no	no	PRON
cblr-1695	90	106	liquidity	liquidity	NOUN
cblr-1695	90	107	options	option	NOUN
cblr-1695	90	108	because	because	SCONJ
cblr-1695	90	109	there	there	PRON
cblr-1695	90	110	is	be	VERB
cblr-1695	90	111	no	no	DET
cblr-1695	90	112	market	market	NOUN
cblr-1695	90	113	for	for	ADP
cblr-1695	90	114	such	such	ADJ
cblr-1695	90	115	shares	share	NOUN
cblr-1695	90	116	.	.	PUNCT
cblr-1695	91	1	charles	charles	PROPN
cblr-1695	91	2	r.t	r.t	PROPN
cblr-1695	91	3	.	.	PROPN
cblr-1695	91	4	o’kelley	o’kelley	PROPN
cblr-1695	91	5	&	&	CCONJ
cblr-1695	91	6	robert	robert	PROPN
cblr-1695	91	7	b.	b.	PROPN
cblr-1695	91	8	thompson	thompson	PROPN
cblr-1695	91	9	,	,	PUNCT
cblr-1695	91	10	corporations	corporation	NOUN
cblr-1695	91	11	and	and	CCONJ
cblr-1695	91	12	other	other	ADJ
cblr-1695	91	13	business	business	NOUN
cblr-1695	91	14	associations	association	NOUN
cblr-1695	91	15	:	:	PUNCT
cblr-1695	91	16	cases	case	NOUN
cblr-1695	91	17	and	and	CCONJ
cblr-1695	91	18	materials	material	NOUN
cblr-1695	91	19	451	451	NUM
cblr-1695	91	20	(	(	PUNCT
cblr-1695	91	21	7th	7th	ADJ
cblr-1695	91	22	ed	ed	NOUN
cblr-1695	91	23	.	.	PROPN
cblr-1695	91	24	2014	2014	NUM
cblr-1695	91	25	)	)	PUNCT
cblr-1695	91	26	.	.	PUNCT
cblr-1695	92	1	publicly	publicly	ADV
cblr-1695	92	2	held	hold	VERB
cblr-1695	92	3	businesses	business	NOUN
cblr-1695	92	4	have	have	VERB
cblr-1695	92	5	the	the	DET
cblr-1695	92	6	opposite	opposite	ADJ
cblr-1695	92	7	characteristics	characteristic	NOUN
cblr-1695	92	8	:	:	PUNCT
cblr-1695	92	9	(	(	PUNCT
cblr-1695	92	10	1	1	X
cblr-1695	92	11	)	)	PUNCT
cblr-1695	92	12	there	there	PRON
cblr-1695	92	13	are	be	VERB
cblr-1695	92	14	many	many	ADJ
cblr-1695	92	15	shareholders	shareholder	NOUN
cblr-1695	92	16	,	,	PUNCT
cblr-1695	92	17	most	most	ADJ
cblr-1695	92	18	of	of	ADP
cblr-1695	92	19	whom	whom	PRON
cblr-1695	92	20	are	be	AUX
cblr-1695	92	21	not	not	PART
cblr-1695	92	22	actively	actively	ADV
cblr-1695	92	23	involved	involve	VERB
cblr-1695	92	24	in	in	ADP
cblr-1695	92	25	the	the	DET
cblr-1695	92	26	management	management	NOUN
cblr-1695	92	27	of	of	ADP
cblr-1695	92	28	the	the	DET
cblr-1695	92	29	firm	firm	NOUN
cblr-1695	92	30	but	but	CCONJ
cblr-1695	92	31	instead	instead	ADV
cblr-1695	92	32	elect	elect	VERB
cblr-1695	92	33	directors	director	NOUN
cblr-1695	92	34	,	,	PUNCT
cblr-1695	92	35	who	who	PRON
cblr-1695	92	36	then	then	ADV
cblr-1695	92	37	delegate	delegate	VERB
cblr-1695	92	38	management	management	NOUN
cblr-1695	92	39	authority	authority	NOUN
cblr-1695	92	40	to	to	ADP
cblr-1695	92	41	officers	officer	NOUN
cblr-1695	92	42	;	;	PUNCT
cblr-1695	92	43	and	and	CCONJ
cblr-1695	92	44	(	(	PUNCT
cblr-1695	92	45	2	2	X
cblr-1695	92	46	)	)	PUNCT
cblr-1695	92	47	shareholders	shareholder	NOUN
cblr-1695	92	48	have	have	VERB
cblr-1695	92	49	liquidity	liquidity	NOUN
cblr-1695	92	50	because	because	SCONJ
cblr-1695	92	51	they	they	PRON
cblr-1695	92	52	can	can	AUX
cblr-1695	92	53	easily	easily	ADV
cblr-1695	92	54	sell	sell	VERB
cblr-1695	92	55	their	their	PRON
cblr-1695	92	56	shares	share	NOUN
cblr-1695	92	57	through	through	ADP
cblr-1695	92	58	the	the	DET
cblr-1695	92	59	public	public	ADJ
cblr-1695	92	60	markets	market	NOUN
cblr-1695	92	61	.	.	PUNCT
cblr-1695	93	1	see	see	VERB
cblr-1695	93	2	i	i	PRON
cblr-1695	93	3	d.	d.	PROPN
cblr-1695	93	4	at	at	ADP
cblr-1695	93	5	219	219	NUM
cblr-1695	93	6	,	,	PUNCT
cblr-1695	93	7	451	451	NUM
cblr-1695	93	8	.	.	PUNCT
cblr-1695	94	1	for	for	ADP
cblr-1695	94	2	further	further	ADJ
cblr-1695	94	3	explanation	explanation	NOUN
cblr-1695	94	4	of	of	ADP
cblr-1695	94	5	this	this	DET
cblr-1695	94	6	distinction	distinction	NOUN
cblr-1695	94	7	,	,	PUNCT
cblr-1695	94	8	see	see	VERB
cblr-1695	94	9	generally	generally	ADV
cblr-1695	94	10	i	i	PRON
cblr-1695	94	11	d.	d.	PROPN
cblr-1695	94	12	at	at	ADP
cblr-1695	94	13	219–31	219–31	PROPN
cblr-1695	94	14	,	,	PUNCT
cblr-1695	94	15	451–54	451–54	NUM
cblr-1695	94	16	.	.	PUNCT
cblr-1695	95	1	19	19	NUM
cblr-1695	95	2	alan	alan	PROPN
cblr-1695	95	3	s.	s.	PROPN
cblr-1695	95	4	gutterman	gutterman	PROPN
cblr-1695	95	5	,	,	PUNCT
cblr-1695	95	6	strategic	strategic	ADJ
cblr-1695	95	7	business	business	NOUN
cblr-1695	95	8	planning	planning	NOUN
cblr-1695	95	9	analysis	analysis	NOUN
cblr-1695	95	10	and	and	CCONJ
cblr-1695	95	11	marketing	market	VERB
cblr-1695	95	12	the	the	DET
cblr-1695	95	13	high	high	ADJ
cblr-1695	95	14	technology	technology	NOUN
cblr-1695	95	15	initial	initial	ADJ
cblr-1695	95	16	public	public	ADJ
cblr-1695	95	17	offering	offering	NOUN
cblr-1695	95	18	candidate	candidate	NOUN
cblr-1695	95	19	,	,	PUNCT
cblr-1695	95	20	6	6	NUM
cblr-1695	95	21	santa	santa	PROPN
cblr-1695	95	22	clara	clara	PROPN
cblr-1695	95	23	computer	computer	NOUN
cblr-1695	95	24	&	&	CCONJ
cblr-1695	95	25	high	high	ADJ
cblr-1695	95	26	tech	tech	NOUN
cblr-1695	95	27	.	.	PUNCT
cblr-1695	96	1	l.j	l.j	PROPN
cblr-1695	96	2	.	.	PROPN
cblr-1695	96	3	197	197	NUM
cblr-1695	96	4	,	,	PUNCT
cblr-1695	96	5	199	199	NUM
cblr-1695	96	6	(	(	PUNCT
cblr-1695	96	7	1991	1991	NUM
cblr-1695	96	8	)	)	PUNCT
cblr-1695	96	9	.	.	PUNCT
cblr-1695	97	1	20	20	NUM
cblr-1695	97	2	o’kelley	o’kelley	PUNCT
cblr-1695	97	3	&	&	CCONJ
cblr-1695	97	4	thompson	thompson	PROPN
cblr-1695	97	5	,	,	PUNCT
cblr-1695	97	6	supra	supra	PROPN
cblr-1695	97	7	note	note	PROPN
cblr-1695	97	8	18	18	NUM
cblr-1695	97	9	,	,	PUNCT
cblr-1695	97	10	at	at	ADP
cblr-1695	97	11	220	220	NUM
cblr-1695	97	12	.	.	PUNCT
cblr-1695	98	1	in	in	ADP
cblr-1695	98	2	fact	fact	NOUN
cblr-1695	98	3	,	,	PUNCT
cblr-1695	98	4	the	the	DET
cblr-1695	98	5	nyse	nyse	PROPN
cblr-1695	98	6	and	and	CCONJ
cblr-1695	98	7	the	the	DET
cblr-1695	98	8	nasdaq	nasdaq	NOUN
cblr-1695	98	9	are	be	AUX
cblr-1695	98	10	the	the	DET
cblr-1695	98	11	first	first	ADJ
cblr-1695	98	12	and	and	CCONJ
cblr-1695	98	13	second	second	ADV
cblr-1695	98	14	largest	large	ADJ
cblr-1695	98	15	stock	stock	NOUN
cblr-1695	98	16	exchanges	exchange	NOUN
cblr-1695	98	17	in	in	ADP
cblr-1695	98	18	the	the	DET
cblr-1695	98	19	world	world	NOUN
cblr-1695	98	20	,	,	PUNCT
cblr-1695	98	21	respectively	respectively	ADV
cblr-1695	98	22	.	.	PUNCT
cblr-1695	99	1	see	see	VERB
cblr-1695	99	2	the	the	DET
cblr-1695	99	3	world	world	NOUN
cblr-1695	99	4	’s	’s	PART
cblr-1695	99	5	biggest	big	ADJ
cblr-1695	99	6	stock	stock	NOUN
cblr-1695	99	7	exchanges	exchange	NOUN
cblr-1695	99	8	,	,	PUNCT
cblr-1695	99	9	forbes	forbes	PROPN
cblr-1695	99	10	,	,	PUNCT
cblr-1695	99	11	https://www.forbes.com/pictures/eddk45iglh/the-worlds-biggest-stockexchanges	https://www.forbes.com/pictures/eddk45iglh/the-worlds-biggest-stockexchange	VERB
cblr-1695	100	1	[	[	X
cblr-1695	100	2	https://perma.cc/x8zm-tjhd	https://perma.cc/x8zm-tjhd	NOUN
cblr-1695	100	3	]	]	PUNCT
cblr-1695	100	4	.	.	PUNCT
cblr-1695	101	1	21	21	NUM
cblr-1695	101	2	see	see	VERB
cblr-1695	101	3	david	david	PROPN
cblr-1695	101	4	a.	a.	PROPN
cblr-1695	101	5	westenberg	westenberg	PROPN
cblr-1695	101	6	,	,	PUNCT
cblr-1695	101	7	initial	initial	ADJ
cblr-1695	101	8	public	public	ADJ
cblr-1695	101	9	offerings	offering	NOUN
cblr-1695	101	10	:	:	PUNCT
cblr-1695	101	11	a	a	DET
cblr-1695	101	12	practical	practical	ADJ
cblr-1695	101	13	guide	guide	NOUN
cblr-1695	101	14	to	to	ADP
cblr-1695	101	15	going	go	VERB
cblr-1695	101	16	public	public	ADJ
cblr-1695	101	17	§	§	PROPN
cblr-1695	101	18	1:2.1	1:2.1	NUM
cblr-1695	101	19	(	(	PUNCT
cblr-1695	101	20	2d	2d	NUM
cblr-1695	101	21	ed	ed	NOUN
cblr-1695	101	22	.	.	PROPN
cblr-1695	101	23	2016	2016	NUM
cblr-1695	101	24	)	)	PUNCT
cblr-1695	101	25	.	.	PUNCT
cblr-1695	102	1	22	22	NUM
cblr-1695	102	2	see	see	VERB
cblr-1695	102	3	supra	supra	PROPN
cblr-1695	102	4	note	note	PROPN
cblr-1695	102	5	18	18	NUM
cblr-1695	102	6	for	for	ADP
cblr-1695	102	7	a	a	DET
cblr-1695	102	8	discussion	discussion	NOUN
cblr-1695	102	9	of	of	ADP
cblr-1695	102	10	how	how	SCONJ
cblr-1695	102	11	close	close	ADJ
cblr-1695	102	12	corporations	corporation	NOUN
cblr-1695	102	13	compare	compare	VERB
cblr-1695	102	14	to	to	ADP
cblr-1695	102	15	public	public	ADJ
cblr-1695	102	16	corporations	corporation	NOUN
cblr-1695	102	17	.	.	PUNCT
cblr-1695	103	1	no	no	INTJ
cblr-1695	103	2	.	.	PUNCT
cblr-1695	104	1	1:305	1:305	NUM
cblr-1695	104	2	]	]	X
cblr-1695	104	3	going	go	VERB
cblr-1695	104	4	public	public	ADJ
cblr-1695	104	5	secretly	secretly	ADV
cblr-1695	104	6	313	313	NUM
cblr-1695	104	7	company	company	NOUN
cblr-1695	104	8	because	because	SCONJ
cblr-1695	104	9	illiquidity	illiquidity	NOUN
cblr-1695	104	10	discounts	discount	NOUN
cblr-1695	104	11	are	be	AUX
cblr-1695	104	12	unnecessary	unnecessary	ADJ
cblr-1695	104	13	and	and	CCONJ
cblr-1695	104	14	transaction	transaction	NOUN
cblr-1695	104	15	costs	cost	NOUN
cblr-1695	104	16	associated	associate	VERB
cblr-1695	104	17	with	with	ADP
cblr-1695	104	18	illiquidity	illiquidity	NOUN
cblr-1695	104	19	are	be	AUX
cblr-1695	104	20	eliminated.23	eliminated.23	NOUN
cblr-1695	104	21	the	the	DET
cblr-1695	104	22	elimination	elimination	NOUN
cblr-1695	104	23	of	of	ADP
cblr-1695	104	24	transaction	transaction	NOUN
cblr-1695	104	25	costs	cost	NOUN
cblr-1695	104	26	rests	rest	VERB
cblr-1695	104	27	on	on	ADP
cblr-1695	104	28	the	the	DET
cblr-1695	104	29	efficient	efficient	ADJ
cblr-1695	104	30	market	market	NOUN
cblr-1695	104	31	hypothesis.24	hypothesis.24	NOUN
cblr-1695	104	32	because	because	SCONJ
cblr-1695	104	33	all	all	DET
cblr-1695	104	34	publicly	publicly	ADV
cblr-1695	104	35	traded	trade	VERB
cblr-1695	104	36	common	common	ADJ
cblr-1695	104	37	shares	share	NOUN
cblr-1695	104	38	have	have	VERB
cblr-1695	104	39	identical	identical	ADJ
cblr-1695	104	40	legal	legal	ADJ
cblr-1695	104	41	characteristics,25	characteristics,25	NOUN
cblr-1695	104	42	ordinary	ordinary	ADJ
cblr-1695	104	43	investors	investor	NOUN
cblr-1695	104	44	need	need	AUX
cblr-1695	104	45	not	not	PART
cblr-1695	104	46	incur	incur	VERB
cblr-1695	104	47	costs	cost	NOUN
cblr-1695	104	48	to	to	PART
cblr-1695	104	49	uncover	uncover	VERB
cblr-1695	104	50	the	the	DET
cblr-1695	104	51	rights	right	NOUN
cblr-1695	104	52	associated	associate	VERB
cblr-1695	104	53	with	with	ADP
cblr-1695	104	54	particular	particular	ADJ
cblr-1695	104	55	shares	share	NOUN
cblr-1695	104	56	.	.	PUNCT
cblr-1695	105	1	thus	thus	ADV
cblr-1695	105	2	,	,	PUNCT
cblr-1695	105	3	purchases	purchase	NOUN
cblr-1695	105	4	and	and	CCONJ
cblr-1695	105	5	sales	sale	NOUN
cblr-1695	105	6	in	in	ADP
cblr-1695	105	7	the	the	DET
cblr-1695	105	8	23	23	NUM
cblr-1695	105	9	see	see	NOUN
cblr-1695	105	10	o’kelley	o’kelley	PROPN
cblr-1695	105	11	&	&	CCONJ
cblr-1695	105	12	thompson	thompson	PROPN
cblr-1695	105	13	,	,	PUNCT
cblr-1695	105	14	supra	supra	PROPN
cblr-1695	105	15	note	note	PROPN
cblr-1695	105	16	18	18	NUM
cblr-1695	105	17	,	,	PUNCT
cblr-1695	105	18	at	at	ADP
cblr-1695	105	19	219	219	NUM
cblr-1695	105	20	;	;	PUNCT
cblr-1695	105	21	westenberg	westenberg	PROPN
cblr-1695	105	22	,	,	PUNCT
cblr-1695	105	23	supra	supra	PROPN
cblr-1695	105	24	note	note	PROPN
cblr-1695	105	25	21	21	NUM
cblr-1695	105	26	,	,	PUNCT
cblr-1695	105	27	§	§	PROPN
cblr-1695	105	28	1:2.1	1:2.1	NUM
cblr-1695	105	29	.	.	PUNCT
cblr-1695	106	1	ronald	ronald	PROPN
cblr-1695	106	2	coase	coase	PROPN
cblr-1695	106	3	defined	define	VERB
cblr-1695	106	4	transaction	transaction	NOUN
cblr-1695	106	5	costs	cost	NOUN
cblr-1695	106	6	as	as	SCONJ
cblr-1695	106	7	those	those	DET
cblr-1695	106	8	accumulated	accumulate	VERB
cblr-1695	106	9	“	"	PUNCT
cblr-1695	106	10	[	[	X
cblr-1695	106	11	i]n	i]n	ADJ
cblr-1695	106	12	order	order	NOUN
cblr-1695	106	13	to	to	PART
cblr-1695	106	14	carry	carry	VERB
cblr-1695	106	15	out	out	ADP
cblr-1695	106	16	a	a	DET
cblr-1695	106	17	market	market	NOUN
cblr-1695	106	18	transaction	transaction	NOUN
cblr-1695	106	19	,	,	PUNCT
cblr-1695	106	20	”	"	PUNCT
cblr-1695	106	21	such	such	ADJ
cblr-1695	106	22	as	as	ADP
cblr-1695	106	23	costs	cost	NOUN
cblr-1695	106	24	necessary	necessary	ADJ
cblr-1695	106	25	“	"	PUNCT
cblr-1695	106	26	to	to	PART
cblr-1695	106	27	discover	discover	VERB
cblr-1695	106	28	who	who	PRON
cblr-1695	106	29	it	it	PRON
cblr-1695	106	30	is	be	AUX
cblr-1695	106	31	that	that	SCONJ
cblr-1695	106	32	one	one	NOUN
cblr-1695	106	33	wishes	wish	VERB
cblr-1695	106	34	to	to	PART
cblr-1695	106	35	deal	deal	VERB
cblr-1695	106	36	with	with	ADP
cblr-1695	106	37	,	,	PUNCT
cblr-1695	106	38	to	to	PART
cblr-1695	106	39	inform	inform	VERB
cblr-1695	106	40	people	people	NOUN
cblr-1695	106	41	that	that	SCONJ
cblr-1695	106	42	one	one	NOUN
cblr-1695	106	43	wishes	wish	VERB
cblr-1695	106	44	to	to	PART
cblr-1695	106	45	deal	deal	VERB
cblr-1695	106	46	and	and	CCONJ
cblr-1695	106	47	on	on	ADP
cblr-1695	106	48	what	what	DET
cblr-1695	106	49	terms	term	NOUN
cblr-1695	106	50	,	,	PUNCT
cblr-1695	106	51	to	to	PART
cblr-1695	106	52	conduct	conduct	VERB
cblr-1695	106	53	negotiations	negotiation	NOUN
cblr-1695	106	54	leading	lead	VERB
cblr-1695	106	55	up	up	ADP
cblr-1695	106	56	to	to	ADP
cblr-1695	106	57	a	a	DET
cblr-1695	106	58	bargain	bargain	NOUN
cblr-1695	106	59	,	,	PUNCT
cblr-1695	106	60	to	to	PART
cblr-1695	106	61	draw	draw	VERB
cblr-1695	106	62	up	up	ADP
cblr-1695	106	63	the	the	DET
cblr-1695	106	64	contract	contract	NOUN
cblr-1695	106	65	,	,	PUNCT
cblr-1695	106	66	to	to	PART
cblr-1695	106	67	undertake	undertake	VERB
cblr-1695	106	68	the	the	DET
cblr-1695	106	69	inspection	inspection	NOUN
cblr-1695	106	70	needed	need	VERB
cblr-1695	106	71	to	to	PART
cblr-1695	106	72	make	make	VERB
cblr-1695	106	73	sure	sure	ADJ
cblr-1695	106	74	that	that	SCONJ
cblr-1695	106	75	the	the	DET
cblr-1695	106	76	terms	term	NOUN
cblr-1695	106	77	of	of	ADP
cblr-1695	106	78	the	the	DET
cblr-1695	106	79	contract	contract	NOUN
cblr-1695	106	80	are	be	AUX
cblr-1695	106	81	being	be	AUX
cblr-1695	106	82	observed	observe	VERB
cblr-1695	106	83	,	,	PUNCT
cblr-1695	106	84	and	and	CCONJ
cblr-1695	106	85	so	so	ADV
cblr-1695	106	86	on	on	ADV
cblr-1695	106	87	.	.	PUNCT
cblr-1695	106	88	”	"	PUNCT
cblr-1695	107	1	r.	r.	PROPN
cblr-1695	107	2	h.	h.	PROPN
cblr-1695	107	3	coase	coase	PROPN
cblr-1695	107	4	,	,	PUNCT
cblr-1695	107	5	the	the	DET
cblr-1695	107	6	problem	problem	NOUN
cblr-1695	107	7	of	of	ADP
cblr-1695	107	8	social	social	ADJ
cblr-1695	107	9	cost	cost	NOUN
cblr-1695	107	10	,	,	PUNCT
cblr-1695	107	11	3	3	NUM
cblr-1695	107	12	j.l	j.l	PROPN
cblr-1695	107	13	.	.	PROPN
cblr-1695	107	14	&	&	CCONJ
cblr-1695	107	15	econ	econ	PROPN
cblr-1695	107	16	.	.	PROPN
cblr-1695	108	1	1	1	NUM
cblr-1695	108	2	,	,	PUNCT
cblr-1695	108	3	15	15	NUM
cblr-1695	108	4	(	(	PUNCT
cblr-1695	108	5	1960	1960	NUM
cblr-1695	108	6	)	)	PUNCT
cblr-1695	108	7	.	.	PUNCT
cblr-1695	109	1	however	however	ADV
cblr-1695	109	2	,	,	PUNCT
cblr-1695	109	3	economists	economist	NOUN
cblr-1695	109	4	debate	debate	VERB
cblr-1695	109	5	over	over	ADP
cblr-1695	109	6	the	the	DET
cblr-1695	109	7	precise	precise	ADJ
cblr-1695	109	8	definition	definition	NOUN
cblr-1695	109	9	of	of	ADP
cblr-1695	109	10	the	the	DET
cblr-1695	109	11	term	term	NOUN
cblr-1695	109	12	,	,	PUNCT
cblr-1695	109	13	leading	lead	VERB
cblr-1695	109	14	to	to	ADP
cblr-1695	109	15	a	a	DET
cblr-1695	109	16	range	range	NOUN
cblr-1695	109	17	of	of	ADP
cblr-1695	109	18	definitions	definition	NOUN
cblr-1695	109	19	encompassing	encompass	VERB
cblr-1695	109	20	the	the	DET
cblr-1695	109	21	spectrum	spectrum	NOUN
cblr-1695	109	22	from	from	ADP
cblr-1695	109	23	exhaustive	exhaustive	ADJ
cblr-1695	109	24	to	to	PART
cblr-1695	109	25	narrow	narrow	VERB
cblr-1695	109	26	.	.	PUNCT
cblr-1695	110	1	see	see	VERB
cblr-1695	110	2	,	,	PUNCT
cblr-1695	110	3	e.g.	e.g.	ADV
cblr-1695	110	4	,	,	PUNCT
cblr-1695	110	5	pierre	pierre	NOUN
cblr-1695	110	6	schlag	schlag	NOUN
cblr-1695	110	7	,	,	PUNCT
cblr-1695	110	8	the	the	DET
cblr-1695	110	9	problem	problem	NOUN
cblr-1695	110	10	of	of	ADP
cblr-1695	110	11	transaction	transaction	NOUN
cblr-1695	110	12	costs	cost	NOUN
cblr-1695	110	13	,	,	PUNCT
cblr-1695	110	14	62	62	NUM
cblr-1695	110	15	s.	s.	PROPN
cblr-1695	110	16	cal	cal	PROPN
cblr-1695	110	17	.	.	PUNCT
cblr-1695	111	1	l.	l.	PROPN
cblr-1695	111	2	rev	rev	PROPN
cblr-1695	111	3	.	.	PROPN
cblr-1695	111	4	1661	1661	NUM
cblr-1695	111	5	,	,	PUNCT
cblr-1695	111	6	1672–76	1672–76	NUM
cblr-1695	111	7	(	(	PUNCT
cblr-1695	111	8	1989	1989	NUM
cblr-1695	111	9	)	)	PUNCT
cblr-1695	111	10	(	(	PUNCT
cblr-1695	111	11	listing	list	VERB
cblr-1695	111	12	several	several	ADJ
cblr-1695	111	13	definitions	definition	NOUN
cblr-1695	111	14	of	of	ADP
cblr-1695	111	15	transaction	transaction	NOUN
cblr-1695	111	16	costs	cost	NOUN
cblr-1695	111	17	advanced	advance	VERB
cblr-1695	111	18	by	by	ADP
cblr-1695	111	19	other	other	ADJ
cblr-1695	111	20	economists	economist	NOUN
cblr-1695	111	21	)	)	PUNCT
cblr-1695	111	22	.	.	PUNCT
cblr-1695	112	1	24	24	NUM
cblr-1695	112	2	there	there	PRON
cblr-1695	112	3	are	be	VERB
cblr-1695	112	4	three	three	NUM
cblr-1695	112	5	versions	version	NOUN
cblr-1695	112	6	of	of	ADP
cblr-1695	112	7	this	this	DET
cblr-1695	112	8	hypothesis	hypothesis	NOUN
cblr-1695	112	9	:	:	PUNCT
cblr-1695	112	10	(	(	PUNCT
cblr-1695	112	11	1	1	X
cblr-1695	112	12	)	)	PUNCT
cblr-1695	112	13	the	the	DET
cblr-1695	112	14	weak	weak	ADJ
cblr-1695	112	15	form	form	NOUN
cblr-1695	112	16	states	state	VERB
cblr-1695	112	17	that	that	SCONJ
cblr-1695	112	18	stock	stock	NOUN
cblr-1695	112	19	prices	price	NOUN
cblr-1695	112	20	reflect	reflect	VERB
cblr-1695	112	21	past	past	ADJ
cblr-1695	112	22	information	information	NOUN
cblr-1695	112	23	;	;	PUNCT
cblr-1695	112	24	(	(	PUNCT
cblr-1695	112	25	2	2	X
cblr-1695	112	26	)	)	PUNCT
cblr-1695	112	27	the	the	DET
cblr-1695	112	28	semi	semi	ADJ
cblr-1695	112	29	-	-	ADJ
cblr-1695	112	30	strong	strong	ADJ
cblr-1695	112	31	form	form	NOUN
cblr-1695	112	32	states	state	VERB
cblr-1695	112	33	that	that	SCONJ
cblr-1695	112	34	stock	stock	NOUN
cblr-1695	112	35	prices	price	NOUN
cblr-1695	112	36	reflect	reflect	VERB
cblr-1695	112	37	all	all	DET
cblr-1695	112	38	publicly	publicly	ADV
cblr-1695	112	39	available	available	ADJ
cblr-1695	112	40	information	information	NOUN
cblr-1695	112	41	;	;	PUNCT
cblr-1695	112	42	and	and	CCONJ
cblr-1695	112	43	(	(	PUNCT
cblr-1695	112	44	3	3	X
cblr-1695	112	45	)	)	PUNCT
cblr-1695	112	46	the	the	DET
cblr-1695	112	47	strong	strong	ADJ
cblr-1695	112	48	form	form	NOUN
cblr-1695	112	49	states	state	VERB
cblr-1695	112	50	that	that	SCONJ
cblr-1695	112	51	stock	stock	NOUN
cblr-1695	112	52	prices	price	NOUN
cblr-1695	112	53	reflect	reflect	VERB
cblr-1695	112	54	all	all	DET
cblr-1695	112	55	information	information	NOUN
cblr-1695	112	56	,	,	PUNCT
cblr-1695	112	57	both	both	CCONJ
cblr-1695	112	58	public	public	ADJ
cblr-1695	112	59	and	and	CCONJ
cblr-1695	112	60	private	private	ADJ
cblr-1695	112	61	.	.	PUNCT
cblr-1695	113	1	see	see	VERB
cblr-1695	113	2	,	,	PUNCT
cblr-1695	113	3	e.g.	e.g.	ADV
cblr-1695	113	4	,	,	PUNCT
cblr-1695	113	5	richard	richard	PROPN
cblr-1695	113	6	a.	a.	NOUN
cblr-1695	113	7	brealey	brealey	PROPN
cblr-1695	113	8	,	,	PUNCT
cblr-1695	113	9	stewart	stewart	PROPN
cblr-1695	113	10	c.	c.	PROPN
cblr-1695	113	11	myers	myers	PROPN
cblr-1695	113	12	&	&	CCONJ
cblr-1695	113	13	franklin	franklin	PROPN
cblr-1695	113	14	allen	allen	PROPN
cblr-1695	113	15	,	,	PUNCT
cblr-1695	113	16	principles	principle	NOUN
cblr-1695	113	17	of	of	ADP
cblr-1695	113	18	corporate	corporate	ADJ
cblr-1695	113	19	finance	finance	NOUN
cblr-1695	113	20	329–36	329–36	NUM
cblr-1695	113	21	(	(	PUNCT
cblr-1695	113	22	12th	12th	NOUN
cblr-1695	113	23	ed	ed	NOUN
cblr-1695	113	24	.	.	PROPN
cblr-1695	113	25	2017	2017	NUM
cblr-1695	113	26	)	)	PUNCT
cblr-1695	113	27	;	;	PUNCT
cblr-1695	113	28	ronald	ronald	PROPN
cblr-1695	113	29	j.	j.	PROPN
cblr-1695	113	30	gilson	gilson	PROPN
cblr-1695	113	31	&	&	CCONJ
cblr-1695	113	32	bernard	bernard	PROPN
cblr-1695	113	33	s.	s.	PROPN
cblr-1695	113	34	black	black	PROPN
cblr-1695	113	35	,	,	PUNCT
cblr-1695	113	36	(	(	PUNCT
cblr-1695	113	37	some	some	PRON
cblr-1695	113	38	of	of	ADP
cblr-1695	113	39	)	)	PUNCT
cblr-1695	113	40	the	the	DET
cblr-1695	113	41	essentials	essential	NOUN
cblr-1695	113	42	of	of	ADP
cblr-1695	113	43	finance	finance	NOUN
cblr-1695	113	44	and	and	CCONJ
cblr-1695	113	45	investment	investment	NOUN
cblr-1695	113	46	136–38	136–38	PROPN
cblr-1695	113	47	(	(	PUNCT
cblr-1695	113	48	1993	1993	NUM
cblr-1695	113	49	)	)	PUNCT
cblr-1695	113	50	.	.	PUNCT
cblr-1695	114	1	but	but	CCONJ
cblr-1695	114	2	see	see	VERB
cblr-1695	114	3	sanford	sanford	PROPN
cblr-1695	114	4	j.	j.	PROPN
cblr-1695	114	5	grossman	grossman	PROPN
cblr-1695	114	6	&	&	CCONJ
cblr-1695	114	7	joseph	joseph	PROPN
cblr-1695	114	8	e.	e.	PROPN
cblr-1695	114	9	stiglitz	stiglitz	PROPN
cblr-1695	114	10	,	,	PUNCT
cblr-1695	114	11	on	on	ADP
cblr-1695	114	12	the	the	DET
cblr-1695	114	13	impossibility	impossibility	NOUN
cblr-1695	114	14	of	of	ADP
cblr-1695	114	15	informationally	informationally	ADV
cblr-1695	114	16	efficient	efficient	ADJ
cblr-1695	114	17	markets	market	NOUN
cblr-1695	114	18	,	,	PUNCT
cblr-1695	114	19	70	70	NUM
cblr-1695	114	20	am	am	NOUN
cblr-1695	114	21	.	.	PUNCT
cblr-1695	115	1	econ	econ	PROPN
cblr-1695	115	2	.	.	PUNCT
cblr-1695	116	1	rev	rev	PROPN
cblr-1695	116	2	.	.	PROPN
cblr-1695	116	3	393	393	NUM
cblr-1695	116	4	(	(	PUNCT
cblr-1695	116	5	1980	1980	NUM
cblr-1695	116	6	)	)	PUNCT
cblr-1695	116	7	(	(	PUNCT
cblr-1695	116	8	rejecting	reject	VERB
cblr-1695	116	9	the	the	DET
cblr-1695	116	10	efficient	efficient	ADJ
cblr-1695	116	11	market	market	NOUN
cblr-1695	116	12	hypothesis	hypothesis	NOUN
cblr-1695	116	13	and	and	CCONJ
cblr-1695	116	14	claiming	claim	VERB
cblr-1695	116	15	that	that	SCONJ
cblr-1695	116	16	if	if	SCONJ
cblr-1695	116	17	all	all	DET
cblr-1695	116	18	parties	party	NOUN
cblr-1695	116	19	held	hold	VERB
cblr-1695	116	20	perfect	perfect	ADJ
cblr-1695	116	21	information	information	NOUN
cblr-1695	116	22	,	,	PUNCT
cblr-1695	116	23	rather	rather	ADV
cblr-1695	116	24	than	than	ADP
cblr-1695	116	25	information	information	NOUN
cblr-1695	116	26	asymmetries	asymmetry	NOUN
cblr-1695	116	27	,	,	PUNCT
cblr-1695	116	28	markets	market	NOUN
cblr-1695	116	29	would	would	AUX
cblr-1695	116	30	extinguish	extinguish	VERB
cblr-1695	116	31	)	)	PUNCT
cblr-1695	116	32	.	.	PUNCT
cblr-1695	117	1	25	25	NUM
cblr-1695	117	2	this	this	PRON
cblr-1695	117	3	is	be	AUX
cblr-1695	117	4	a	a	DET
cblr-1695	117	5	result	result	NOUN
cblr-1695	117	6	of	of	ADP
cblr-1695	117	7	statutory	statutory	ADJ
cblr-1695	117	8	requirements	requirement	NOUN
cblr-1695	117	9	imposed	impose	VERB
cblr-1695	117	10	on	on	ADP
cblr-1695	117	11	corporations	corporation	NOUN
cblr-1695	117	12	.	.	PUNCT
cblr-1695	118	1	see	see	VERB
cblr-1695	118	2	,	,	PUNCT
cblr-1695	118	3	e.g.	e.g.	ADV
cblr-1695	118	4	,	,	PUNCT
cblr-1695	118	5	del	del	PROPN
cblr-1695	118	6	.	.	PROPN
cblr-1695	118	7	code	code	PROPN
cblr-1695	118	8	ann	ann	PROPN
cblr-1695	118	9	.	.	PUNCT
cblr-1695	119	1	tit	tit	PROPN
cblr-1695	119	2	.	.	PROPN
cblr-1695	120	1	8	8	NUM
cblr-1695	120	2	,	,	PUNCT
cblr-1695	120	3	§	§	PROPN
cblr-1695	120	4	151(f	151(f	NUM
cblr-1695	120	5	)	)	PUNCT
cblr-1695	120	6	(	(	PUNCT
cblr-1695	120	7	2017	2017	NUM
cblr-1695	120	8	)	)	PUNCT
cblr-1695	120	9	(	(	PUNCT
cblr-1695	120	10	“	"	PUNCT
cblr-1695	120	11	[	[	X
cblr-1695	120	12	t]he	t]he	X
cblr-1695	120	13	rights	right	NOUN
cblr-1695	120	14	and	and	CCONJ
cblr-1695	120	15	obligations	obligation	NOUN
cblr-1695	120	16	of	of	ADP
cblr-1695	120	17	the	the	DET
cblr-1695	120	18	holders	holder	NOUN
cblr-1695	120	19	of	of	ADP
cblr-1695	120	20	certificates	certificate	NOUN
cblr-1695	120	21	representing	represent	VERB
cblr-1695	120	22	stock	stock	NOUN
cblr-1695	120	23	of	of	ADP
cblr-1695	120	24	the	the	DET
cblr-1695	120	25	same	same	ADJ
cblr-1695	120	26	class	class	NOUN
cblr-1695	120	27	and	and	CCONJ
cblr-1695	120	28	series	series	NOUN
cblr-1695	120	29	shall	shall	AUX
cblr-1695	120	30	be	be	AUX
cblr-1695	120	31	identical	identical	ADJ
cblr-1695	120	32	.	.	PUNCT
cblr-1695	120	33	”	"	PUNCT
cblr-1695	120	34	)	)	PUNCT
cblr-1695	120	35	.	.	PUNCT
cblr-1695	121	1	the	the	DET
cblr-1695	121	2	model	model	PROPN
cblr-1695	121	3	business	business	PROPN
cblr-1695	121	4	corporation	corporation	PROPN
cblr-1695	121	5	act	act	NOUN
cblr-1695	121	6	takes	take	VERB
cblr-1695	121	7	the	the	DET
cblr-1695	121	8	same	same	ADJ
cblr-1695	121	9	approach	approach	NOUN
cblr-1695	121	10	.	.	PUNCT
cblr-1695	122	1	model	model	NOUN
cblr-1695	122	2	bus	bus	PROPN
cblr-1695	122	3	.	.	PUNCT
cblr-1695	123	1	corp	corp	PROPN
cblr-1695	123	2	.	.	PROPN
cblr-1695	123	3	act	act	PROPN
cblr-1695	123	4	§	§	PROPN
cblr-1695	123	5	6.01(a	6.01(a	PROPN
cblr-1695	123	6	)	)	PUNCT
cblr-1695	123	7	(	(	PUNCT
cblr-1695	123	8	am	be	AUX
cblr-1695	123	9	.	.	PUNCT
cblr-1695	124	1	bar	bar	NOUN
cblr-1695	124	2	ass’n	ass’n	NUM
cblr-1695	124	3	2016	2016	NUM
cblr-1695	124	4	)	)	PUNCT
cblr-1695	124	5	(	(	PUNCT
cblr-1695	124	6	“	"	PUNCT
cblr-1695	124	7	[	[	X
cblr-1695	124	8	a]ll	a]ll	PRON
cblr-1695	124	9	shares	share	NOUN
cblr-1695	124	10	of	of	ADP
cblr-1695	124	11	a	a	DET
cblr-1695	124	12	class	class	NOUN
cblr-1695	124	13	or	or	CCONJ
cblr-1695	124	14	series	series	NOUN
cblr-1695	124	15	must	must	AUX
cblr-1695	124	16	have	have	VERB
cblr-1695	124	17	terms	term	NOUN
cblr-1695	124	18	,	,	PUNCT
cblr-1695	124	19	including	include	VERB
cblr-1695	124	20	preferences	preference	NOUN
cblr-1695	124	21	,	,	PUNCT
cblr-1695	124	22	rights	right	NOUN
cblr-1695	124	23	,	,	PUNCT
cblr-1695	124	24	and	and	CCONJ
cblr-1695	124	25	limitations	limitation	NOUN
cblr-1695	124	26	,	,	PUNCT
cblr-1695	124	27	that	that	PRON
cblr-1695	124	28	are	be	AUX
cblr-1695	124	29	identical	identical	ADJ
cblr-1695	124	30	with	with	ADP
cblr-1695	124	31	those	those	PRON
cblr-1695	124	32	of	of	ADP
cblr-1695	124	33	other	other	ADJ
cblr-1695	124	34	shares	share	NOUN
cblr-1695	124	35	of	of	ADP
cblr-1695	124	36	the	the	DET
cblr-1695	124	37	same	same	ADJ
cblr-1695	124	38	class	class	NOUN
cblr-1695	124	39	or	or	CCONJ
cblr-1695	124	40	series	series	NOUN
cblr-1695	124	41	.	.	PUNCT
cblr-1695	124	42	”	"	PUNCT
cblr-1695	124	43	)	)	PUNCT
cblr-1695	124	44	;	;	PUNCT
cblr-1695	124	45	see	see	VERB
cblr-1695	124	46	also	also	ADV
cblr-1695	124	47	o’kelley	o’kelley	PROPN
cblr-1695	124	48	&	&	CCONJ
cblr-1695	124	49	thompson	thompson	PROPN
cblr-1695	124	50	,	,	PUNCT
cblr-1695	124	51	supra	supra	PROPN
cblr-1695	124	52	note	note	PROPN
cblr-1695	124	53	18	18	NUM
cblr-1695	124	54	,	,	PUNCT
cblr-1695	124	55	at	at	ADP
cblr-1695	124	56	160	160	NUM
cblr-1695	124	57	(	(	PUNCT
cblr-1695	124	58	“	"	PUNCT
cblr-1695	124	59	corporate	corporate	ADJ
cblr-1695	124	60	norms	norm	NOUN
cblr-1695	124	61	contemplate	contemplate	VERB
cblr-1695	124	62	that	that	SCONJ
cblr-1695	124	63	all	all	DET
cblr-1695	124	64	shares	share	NOUN
cblr-1695	124	65	of	of	ADP
cblr-1695	124	66	a	a	DET
cblr-1695	124	67	given	give	VERB
cblr-1695	124	68	class	class	NOUN
cblr-1695	124	69	will	will	AUX
cblr-1695	124	70	be	be	AUX
cblr-1695	124	71	fungible	fungible	ADJ
cblr-1695	124	72	[	[	X
cblr-1695	124	73	,	,	PUNCT
cblr-1695	124	74	]	]	PUNCT
cblr-1695	124	75	.	.	PUNCT
cblr-1695	124	76	.	.	PUNCT
cblr-1695	124	77	.	.	PUNCT
cblr-1695	125	1	[	[	X
cblr-1695	125	2	which	which	PRON
cblr-1695	125	3	]	]	PUNCT
cblr-1695	125	4	supports	support	VERB
cblr-1695	125	5	a	a	DET
cblr-1695	125	6	uniform	uniform	ADJ
cblr-1695	125	7	expectation	expectation	NOUN
cblr-1695	125	8	that	that	PRON
cblr-1695	125	9	minimizes	minimize	VERB
cblr-1695	125	10	transaction	transaction	NOUN
cblr-1695	125	11	costs	cost	NOUN
cblr-1695	125	12	for	for	ADP
cblr-1695	125	13	a	a	DET
cblr-1695	125	14	purchaser	purchaser	NOUN
cblr-1695	125	15	and	and	CCONJ
cblr-1695	125	16	bolsters	bolster	VERB
cblr-1695	125	17	the	the	DET
cblr-1695	125	18	functioning	functioning	NOUN
cblr-1695	125	19	of	of	ADP
cblr-1695	125	20	a	a	DET
cblr-1695	125	21	national	national	ADJ
cblr-1695	125	22	market	market	NOUN
cblr-1695	125	23	for	for	ADP
cblr-1695	125	24	shares	share	NOUN
cblr-1695	125	25	.	.	PUNCT
cblr-1695	125	26	”	"	PUNCT
cblr-1695	125	27	)	)	PUNCT
cblr-1695	125	28	.	.	PUNCT
cblr-1695	126	1	314	314	NUM
cblr-1695	126	2	columbia	columbia	PROPN
cblr-1695	126	3	business	business	NOUN
cblr-1695	126	4	law	law	PROPN
cblr-1695	126	5	review	review	NOUN
cblr-1695	127	1	[	[	X
cblr-1695	127	2	vol	vol	NOUN
cblr-1695	127	3	.	.	NOUN
cblr-1695	127	4	2019	2019	NUM
cblr-1695	127	5	securities	security	NOUN
cblr-1695	127	6	markets	market	NOUN
cblr-1695	127	7	stand	stand	VERB
cblr-1695	127	8	in	in	ADP
cblr-1695	127	9	stark	stark	ADJ
cblr-1695	127	10	contrast	contrast	NOUN
cblr-1695	127	11	with	with	ADP
cblr-1695	127	12	other	other	ADJ
cblr-1695	127	13	transactions	transaction	NOUN
cblr-1695	127	14	,	,	PUNCT
cblr-1695	127	15	such	such	ADJ
cblr-1695	127	16	as	as	ADP
cblr-1695	127	17	mergers	merger	NOUN
cblr-1695	127	18	and	and	CCONJ
cblr-1695	127	19	acquisitions	acquisition	NOUN
cblr-1695	127	20	,	,	PUNCT
cblr-1695	127	21	which	which	PRON
cblr-1695	127	22	require	require	VERB
cblr-1695	127	23	substantial	substantial	ADJ
cblr-1695	127	24	transaction	transaction	NOUN
cblr-1695	127	25	costs	cost	NOUN
cblr-1695	127	26	before	before	ADP
cblr-1695	127	27	effectuating	effectuate	VERB
cblr-1695	127	28	a	a	DET
cblr-1695	127	29	deal.26	deal.26	ADJ
cblr-1695	127	30	another	another	DET
cblr-1695	127	31	benefit	benefit	NOUN
cblr-1695	127	32	of	of	ADP
cblr-1695	127	33	going	go	VERB
cblr-1695	127	34	public	public	NOUN
cblr-1695	127	35	is	be	AUX
cblr-1695	127	36	that	that	SCONJ
cblr-1695	127	37	it	it	PRON
cblr-1695	127	38	allows	allow	VERB
cblr-1695	127	39	the	the	DET
cblr-1695	127	40	company	company	NOUN
cblr-1695	127	41	to	to	PART
cblr-1695	127	42	offer	offer	VERB
cblr-1695	127	43	public	public	ADJ
cblr-1695	127	44	stock	stock	NOUN
cblr-1695	127	45	—	—	PUNCT
cblr-1695	127	46	which	which	PRON
cblr-1695	127	47	is	be	AUX
cblr-1695	127	48	generally	generally	ADV
cblr-1695	127	49	more	more	ADV
cblr-1695	127	50	attractive	attractive	ADJ
cblr-1695	127	51	than	than	ADP
cblr-1695	127	52	stock	stock	NOUN
cblr-1695	127	53	in	in	ADP
cblr-1695	127	54	a	a	DET
cblr-1695	127	55	closely	closely	ADV
cblr-1695	127	56	held	hold	VERB
cblr-1695	127	57	corporation	corporation	NOUN
cblr-1695	127	58	due	due	ADP
cblr-1695	127	59	to	to	ADP
cblr-1695	127	60	its	its	PRON
cblr-1695	127	61	liquidity	liquidity	NOUN
cblr-1695	127	62	—	—	PUNCT
cblr-1695	127	63	to	to	ADP
cblr-1695	127	64	employees	employee	NOUN
cblr-1695	127	65	as	as	ADP
cblr-1695	127	66	incentive	incentive	NOUN
cblr-1695	127	67	compensation	compensation	NOUN
cblr-1695	127	68	or	or	CCONJ
cblr-1695	127	69	to	to	PART
cblr-1695	127	70	target	target	VERB
cblr-1695	127	71	companies	company	NOUN
cblr-1695	127	72	as	as	ADP
cblr-1695	127	73	consideration	consideration	NOUN
cblr-1695	127	74	in	in	ADP
cblr-1695	127	75	an	an	DET
cblr-1695	127	76	acquisition.27	acquisition.27	PROPN
cblr-1695	127	77	finally	finally	ADV
cblr-1695	127	78	,	,	PUNCT
cblr-1695	127	79	an	an	DET
cblr-1695	127	80	ipo	ipo	NOUN
cblr-1695	127	81	may	may	AUX
cblr-1695	127	82	offer	offer	VERB
cblr-1695	127	83	a	a	DET
cblr-1695	127	84	company	company	NOUN
cblr-1695	127	85	enhanced	enhance	VERB
cblr-1695	127	86	prestige	prestige	NOUN
cblr-1695	127	87	and	and	CCONJ
cblr-1695	127	88	credibility	credibility	NOUN
cblr-1695	127	89	among	among	ADP
cblr-1695	127	90	customers	customer	NOUN
cblr-1695	127	91	,	,	PUNCT
cblr-1695	127	92	vendors	vendor	NOUN
cblr-1695	127	93	,	,	PUNCT
cblr-1695	127	94	and	and	CCONJ
cblr-1695	127	95	employees.28	employees.28	NOUN
cblr-1695	127	96	recently	recently	ADV
cblr-1695	127	97	,	,	PUNCT
cblr-1695	127	98	however	however	ADV
cblr-1695	127	99	,	,	PUNCT
cblr-1695	127	100	this	this	PRON
cblr-1695	127	101	appears	appear	VERB
cblr-1695	127	102	to	to	PART
cblr-1695	127	103	be	be	AUX
cblr-1695	127	104	less	less	ADJ
cblr-1695	127	105	of	of	ADP
cblr-1695	127	106	a	a	DET
cblr-1695	127	107	motivating	motivating	NOUN
cblr-1695	127	108	factor	factor	NOUN
cblr-1695	127	109	;	;	PUNCT
cblr-1695	127	110	while	while	SCONJ
cblr-1695	127	111	companies	company	NOUN
cblr-1695	127	112	of	of	ADP
cblr-1695	127	113	yesteryear	yesteryear	NOUN
cblr-1695	127	114	viewed	view	VERB
cblr-1695	127	115	an	an	DET
cblr-1695	127	116	ipo	ipo	NOUN
cblr-1695	127	117	as	as	ADP
cblr-1695	127	118	the	the	DET
cblr-1695	127	119	brass	brass	NOUN
cblr-1695	127	120	ring	ring	NOUN
cblr-1695	127	121	of	of	ADP
cblr-1695	127	122	success	success	NOUN
cblr-1695	127	123	,	,	PUNCT
cblr-1695	127	124	some	some	DET
cblr-1695	127	125	entrepreneurs	entrepreneur	NOUN
cblr-1695	127	126	today	today	NOUN
cblr-1695	127	127	do	do	AUX
cblr-1695	127	128	not	not	PART
cblr-1695	127	129	share	share	VERB
cblr-1695	127	130	that	that	DET
cblr-1695	127	131	opinion.29	opinion.29	NOUN
cblr-1695	127	132	2	2	NUM
cblr-1695	127	133	.	.	PUNCT
cblr-1695	128	1	the	the	DET
cblr-1695	128	2	disadvantages	disadvantage	NOUN
cblr-1695	128	3	of	of	ADP
cblr-1695	128	4	an	an	DET
cblr-1695	128	5	ipo	ipo	NOUN
cblr-1695	128	6	despite	despite	SCONJ
cblr-1695	128	7	the	the	DET
cblr-1695	128	8	aforementioned	aforementioned	ADJ
cblr-1695	128	9	benefits	benefit	NOUN
cblr-1695	128	10	a	a	DET
cblr-1695	128	11	company	company	NOUN
cblr-1695	128	12	may	may	AUX
cblr-1695	128	13	reap	reap	VERB
cblr-1695	128	14	through	through	ADP
cblr-1695	128	15	an	an	DET
cblr-1695	128	16	ipo	ipo	NOUN
cblr-1695	128	17	,	,	PUNCT
cblr-1695	128	18	there	there	PRON
cblr-1695	128	19	are	be	VERB
cblr-1695	128	20	significant	significant	ADJ
cblr-1695	128	21	disadvantages	disadvantage	NOUN
cblr-1695	128	22	as	as	ADV
cblr-1695	128	23	well	well	ADV
cblr-1695	128	24	.	.	PUNCT
cblr-1695	129	1	in	in	ADP
cblr-1695	129	2	fact	fact	NOUN
cblr-1695	129	3	,	,	PUNCT
cblr-1695	129	4	many	many	ADJ
cblr-1695	129	5	commentators	commentator	NOUN
cblr-1695	129	6	in	in	ADP
cblr-1695	129	7	recent	recent	ADJ
cblr-1695	129	8	years	year	NOUN
cblr-1695	129	9	have	have	AUX
cblr-1695	129	10	stated	state	VERB
cblr-1695	129	11	that	that	SCONJ
cblr-1695	129	12	there	there	PRON
cblr-1695	129	13	are	be	VERB
cblr-1695	129	14	simply	simply	ADV
cblr-1695	129	15	no	no	DET
cblr-1695	129	16	advantages	advantage	NOUN
cblr-1695	129	17	to	to	ADP
cblr-1695	129	18	going	go	VERB
cblr-1695	129	19	public	public	ADJ
cblr-1695	129	20	in	in	ADP
cblr-1695	129	21	the	the	DET
cblr-1695	129	22	current	current	ADJ
cblr-1695	129	23	atmosphere.30	atmosphere.30	NOUN
cblr-1695	129	24	26	26	NUM
cblr-1695	129	25	see	see	VERB
cblr-1695	129	26	david	david	PROPN
cblr-1695	129	27	j.	j.	PROPN
cblr-1695	129	28	roberts	roberts	PROPN
cblr-1695	129	29	,	,	PUNCT
cblr-1695	129	30	note	note	VERB
cblr-1695	129	31	,	,	PUNCT
cblr-1695	129	32	capitalizing	capitalize	VERB
cblr-1695	129	33	the	the	DET
cblr-1695	129	34	target	target	NOUN
cblr-1695	129	35	’s	’s	PART
cblr-1695	129	36	transaction	transaction	NOUN
cblr-1695	129	37	costs	cost	NOUN
cblr-1695	129	38	in	in	ADP
cblr-1695	129	39	hostile	hostile	ADJ
cblr-1695	129	40	takeovers	takeover	NOUN
cblr-1695	129	41	,	,	PUNCT
cblr-1695	129	42	73	73	NUM
cblr-1695	129	43	wash	wash	NOUN
cblr-1695	129	44	.	.	PUNCT
cblr-1695	130	1	l.	l.	PROPN
cblr-1695	130	2	rev	rev	PROPN
cblr-1695	130	3	.	.	PROPN
cblr-1695	130	4	489	489	NUM
cblr-1695	130	5	,	,	PUNCT
cblr-1695	130	6	489	489	NUM
cblr-1695	130	7	(	(	PUNCT
cblr-1695	130	8	1998	1998	NUM
cblr-1695	130	9	)	)	PUNCT
cblr-1695	130	10	(	(	PUNCT
cblr-1695	130	11	“	"	PUNCT
cblr-1695	130	12	even	even	ADV
cblr-1695	130	13	in	in	ADP
cblr-1695	130	14	smaller	small	ADJ
cblr-1695	130	15	m&a	m&a	PROPN
cblr-1695	130	16	deals	deal	NOUN
cblr-1695	130	17	,	,	PUNCT
cblr-1695	130	18	transaction	transaction	NOUN
cblr-1695	130	19	fees	fee	NOUN
cblr-1695	130	20	can	can	AUX
cblr-1695	130	21	be	be	AUX
cblr-1695	130	22	substantial	substantial	ADJ
cblr-1695	130	23	.	.	PUNCT
cblr-1695	130	24	”	"	PUNCT
cblr-1695	130	25	)	)	PUNCT
cblr-1695	130	26	.	.	PUNCT
cblr-1695	131	1	27	27	NUM
cblr-1695	131	2	westenberg	westenberg	NOUN
cblr-1695	131	3	,	,	PUNCT
cblr-1695	131	4	supra	supra	PROPN
cblr-1695	131	5	note	note	PROPN
cblr-1695	131	6	21	21	NUM
cblr-1695	131	7	,	,	PUNCT
cblr-1695	131	8	§	§	PROPN
cblr-1695	131	9	1:2.1	1:2.1	NUM
cblr-1695	131	10	.	.	PUNCT
cblr-1695	131	11	28	28	NUM
cblr-1695	132	1	i	i	PRON
cblr-1695	132	2	d.	d.	PROPN
cblr-1695	132	3	29	29	NUM
cblr-1695	132	4	see	see	VERB
cblr-1695	132	5	,	,	PUNCT
cblr-1695	132	6	e.g.	e.g.	ADV
cblr-1695	132	7	,	,	PUNCT
cblr-1695	132	8	brian	brian	PROPN
cblr-1695	132	9	hamilton	hamilton	PROPN
cblr-1695	132	10	,	,	PUNCT
cblr-1695	132	11	why	why	SCONJ
cblr-1695	132	12	not	not	PART
cblr-1695	132	13	go	go	VERB
cblr-1695	132	14	public	public	ADJ
cblr-1695	132	15	?	?	PUNCT
cblr-1695	133	1	here	here	ADV
cblr-1695	133	2	’s	’	VERB
cblr-1695	133	3	why	why	SCONJ
cblr-1695	133	4	,	,	PUNCT
cblr-1695	133	5	cnbc	cnbc	PROPN
cblr-1695	133	6	(	(	PUNCT
cblr-1695	133	7	june	june	PROPN
cblr-1695	133	8	27	27	NUM
cblr-1695	133	9	,	,	PUNCT
cblr-1695	133	10	2012	2012	NUM
cblr-1695	133	11	)	)	PUNCT
cblr-1695	133	12	,	,	PUNCT
cblr-1695	133	13	https://www.cnbc.com/id/47979116	https://www.cnbc.com/id/47979116	X
cblr-1695	134	1	[	[	X
cblr-1695	134	2	https://perma.cc/lz7yf63f	https://perma.cc/lz7yf63f	PROPN
cblr-1695	134	3	]	]	X
cblr-1695	134	4	(	(	PUNCT
cblr-1695	134	5	“	"	PUNCT
cblr-1695	134	6	for	for	ADP
cblr-1695	134	7	a	a	DET
cblr-1695	134	8	long	long	ADJ
cblr-1695	134	9	time	time	NOUN
cblr-1695	134	10	,	,	PUNCT
cblr-1695	134	11	one	one	NUM
cblr-1695	134	12	of	of	ADP
cblr-1695	134	13	the	the	DET
cblr-1695	134	14	reasons	reason	NOUN
cblr-1695	134	15	for	for	ADP
cblr-1695	134	16	doing	do	VERB
cblr-1695	134	17	an	an	DET
cblr-1695	134	18	ipo	ipo	NOUN
cblr-1695	134	19	was	be	AUX
cblr-1695	134	20	that	that	SCONJ
cblr-1695	134	21	everybody	everybody	PRON
cblr-1695	134	22	else	else	ADV
cblr-1695	134	23	was	be	AUX
cblr-1695	134	24	doing	do	VERB
cblr-1695	134	25	it	it	PRON
cblr-1695	134	26	.	.	PUNCT
cblr-1695	135	1	it	it	PRON
cblr-1695	135	2	was	be	AUX
cblr-1695	135	3	a	a	DET
cblr-1695	135	4	status	status	NOUN
cblr-1695	135	5	symbol	symbol	NOUN
cblr-1695	135	6	.	.	PUNCT
cblr-1695	135	7	.	.	PUNCT
cblr-1695	135	8	.	.	PUNCT
cblr-1695	136	1	.	.	PUNCT
cblr-1695	137	1	this	this	DET
cblr-1695	137	2	generation	generation	NOUN
cblr-1695	137	3	seems	seem	VERB
cblr-1695	137	4	to	to	PART
cblr-1695	137	5	be	be	AUX
cblr-1695	137	6	more	more	ADV
cblr-1695	137	7	educated	educated	ADJ
cblr-1695	137	8	and	and	CCONJ
cblr-1695	137	9	thoughtful	thoughtful	ADJ
cblr-1695	137	10	about	about	ADP
cblr-1695	137	11	options	option	NOUN
cblr-1695	137	12	for	for	ADP
cblr-1695	137	13	accessing	access	VERB
cblr-1695	137	14	capital	capital	NOUN
cblr-1695	137	15	.	.	PUNCT
cblr-1695	137	16	”	"	PUNCT
cblr-1695	137	17	)	)	PUNCT
cblr-1695	137	18	.	.	PUNCT
cblr-1695	138	1	30	30	NUM
cblr-1695	138	2	e.g.	e.g.	ADV
cblr-1695	138	3	,	,	PUNCT
cblr-1695	138	4	maureen	maureen	PROPN
cblr-1695	138	5	farrell	farrell	PROPN
cblr-1695	138	6	,	,	PUNCT
cblr-1695	138	7	america	america	PROPN
cblr-1695	138	8	’s	’s	PART
cblr-1695	138	9	roster	roster	NOUN
cblr-1695	138	10	of	of	ADP
cblr-1695	138	11	public	public	ADJ
cblr-1695	138	12	companies	company	NOUN
cblr-1695	138	13	is	be	AUX
cblr-1695	138	14	shrinking	shrink	VERB
cblr-1695	138	15	before	before	ADP
cblr-1695	138	16	our	our	PRON
cblr-1695	138	17	eyes	eye	NOUN
cblr-1695	138	18	,	,	PUNCT
cblr-1695	138	19	wall	wall	PROPN
cblr-1695	138	20	st	st	PROPN
cblr-1695	138	21	.	.	PROPN
cblr-1695	138	22	j.	j.	PROPN
cblr-1695	138	23	(	(	PUNCT
cblr-1695	138	24	jan	jan	PROPN
cblr-1695	138	25	.	.	PROPN
cblr-1695	138	26	6	6	NUM
cblr-1695	138	27	,	,	PUNCT
cblr-1695	138	28	2017	2017	NUM
cblr-1695	138	29	)	)	PUNCT
cblr-1695	138	30	,	,	PUNCT
cblr-1695	138	31	https://www.wsj.com/articles/americas-roster-of-public-companies-isshrinking-before-our-eyes-1483545879	https://www.wsj.com/articles/americas-roster-of-public-companies-isshrinking-before-our-eyes-1483545879	NOUN
cblr-1695	138	32	(	(	PUNCT
cblr-1695	138	33	on	on	ADP
cblr-1695	138	34	file	file	NOUN
cblr-1695	138	35	with	with	ADP
cblr-1695	138	36	the	the	DET
cblr-1695	138	37	columbia	columbia	PROPN
cblr-1695	138	38	business	business	PROPN
cblr-1695	138	39	law	law	PROPN
cblr-1695	138	40	review	review	PROPN
cblr-1695	138	41	)	)	PUNCT
cblr-1695	138	42	(	(	PUNCT
cblr-1695	138	43	“	"	PUNCT
cblr-1695	138	44	there	there	PRON
cblr-1695	138	45	’s	’	VERB
cblr-1695	138	46	no	no	DET
cblr-1695	138	47	great	great	ADJ
cblr-1695	138	48	advantage	advantage	NOUN
cblr-1695	138	49	of	of	ADP
cblr-1695	138	50	being	be	AUX
cblr-1695	138	51	public	public	ADJ
cblr-1695	138	52	.	.	PUNCT
cblr-1695	138	53	.	.	PUNCT
cblr-1695	138	54	.	.	PUNCT
cblr-1695	138	55	.	.	PUNCT
cblr-1695	139	1	the	the	DET
cblr-1695	139	2	dangers	danger	NOUN
cblr-1695	139	3	of	of	ADP
cblr-1695	139	4	being	be	AUX
cblr-1695	139	5	a	a	DET
cblr-1695	139	6	public	public	ADJ
cblr-1695	139	7	company	company	NOUN
cblr-1695	139	8	are	be	AUX
cblr-1695	139	9	really	really	ADV
cblr-1695	139	10	evident	evident	ADJ
cblr-1695	139	11	.	.	PUNCT
cblr-1695	139	12	”	"	PUNCT
cblr-1695	139	13	)	)	PUNCT
cblr-1695	139	14	(	(	PUNCT
cblr-1695	139	15	quoting	quote	VERB
cblr-1695	139	16	university	university	PROPN
cblr-1695	139	17	of	of	ADP
cblr-1695	139	18	michigan	michigan	PROPN
cblr-1695	139	19	ross	ross	PROPN
cblr-1695	139	20	school	school	PROPN
cblr-1695	139	21	of	of	ADP
cblr-1695	139	22	business	business	NOUN
cblr-1695	139	23	professor	professor	PROPN
cblr-1695	139	24	jerry	jerry	PROPN
cblr-1695	139	25	davis	davis	PROPN
cblr-1695	139	26	)	)	PUNCT
cblr-1695	139	27	;	;	PUNCT
cblr-1695	139	28	hamilton	hamilton	PROPN
cblr-1695	139	29	,	,	PUNCT
cblr-1695	139	30	supra	supra	PROPN
cblr-1695	139	31	note	note	PROPN
cblr-1695	139	32	29	29	NUM
cblr-1695	139	33	(	(	PUNCT
cblr-1695	139	34	“	"	PUNCT
cblr-1695	139	35	for	for	ADP
cblr-1695	139	36	many	many	ADJ
cblr-1695	139	37	private	private	ADJ
cblr-1695	139	38	-	-	PUNCT
cblr-1695	139	39	company	company	NOUN
cblr-1695	139	40	owners	owner	NOUN
cblr-1695	139	41	,	,	PUNCT
cblr-1695	139	42	the	the	DET
cblr-1695	139	43	lure	lure	NOUN
cblr-1695	139	44	of	of	ADP
cblr-1695	139	45	ringing	ring	VERB
cblr-1695	139	46	the	the	DET
cblr-1695	139	47	bell	bell	NOUN
cblr-1695	139	48	on	on	ADP
cblr-1695	139	49	a	a	DET
cblr-1695	139	50	stock	stock	NOUN
cblr-1695	139	51	exchange	exchange	NOUN
cblr-1695	139	52	just	just	ADV
cblr-1695	139	53	is	be	AUX
cblr-1695	139	54	n’t	not	PART
cblr-1695	139	55	there	there	ADV
cblr-1695	139	56	anymore	anymore	ADV
cblr-1695	139	57	.	.	PUNCT
cblr-1695	140	1	why	why	SCONJ
cblr-1695	140	2	should	should	AUX
cblr-1695	140	3	it	it	PRON
cblr-1695	140	4	be	be	AUX
cblr-1695	140	5	?	?	PUNCT
cblr-1695	141	1	that	that	DET
cblr-1695	141	2	bell	bell	PROPN
cblr-1695	141	3	is	be	AUX
cblr-1695	141	4	an	an	DET
cblr-1695	141	5	no	no	NOUN
cblr-1695	141	6	.	.	PUNCT
cblr-1695	142	1	1:305	1:305	NUM
cblr-1695	142	2	]	]	X
cblr-1695	142	3	going	go	VERB
cblr-1695	142	4	public	public	ADJ
cblr-1695	142	5	secretly	secretly	ADV
cblr-1695	142	6	315	315	NUM
cblr-1695	142	7	first	first	ADJ
cblr-1695	142	8	,	,	PUNCT
cblr-1695	142	9	it	it	PRON
cblr-1695	142	10	is	be	AUX
cblr-1695	142	11	expensive.31	expensive.31	NOUN
cblr-1695	142	12	a	a	DET
cblr-1695	142	13	company	company	NOUN
cblr-1695	142	14	generally	generally	ADV
cblr-1695	142	15	incurs	incur	VERB
cblr-1695	142	16	between	between	ADP
cblr-1695	142	17	$	$	SYM
cblr-1695	142	18	2	2	NUM
cblr-1695	142	19	million	million	NUM
cblr-1695	142	20	and	and	CCONJ
cblr-1695	142	21	$	$	SYM
cblr-1695	142	22	4	4	NUM
cblr-1695	142	23	million	million	NUM
cblr-1695	142	24	in	in	ADP
cblr-1695	142	25	expenses	expense	NOUN
cblr-1695	142	26	throughout	throughout	ADP
cblr-1695	142	27	the	the	DET
cblr-1695	142	28	ipo	ipo	NOUN
cblr-1695	142	29	process	process	NOUN
cblr-1695	142	30	,	,	PUNCT
cblr-1695	142	31	whether	whether	SCONJ
cblr-1695	142	32	or	or	CCONJ
cblr-1695	142	33	not	not	PART
cblr-1695	142	34	the	the	DET
cblr-1695	142	35	company	company	NOUN
cblr-1695	142	36	actually	actually	ADV
cblr-1695	142	37	completes	complete	VERB
cblr-1695	142	38	it	it	PRON
cblr-1695	142	39	and	and	CCONJ
cblr-1695	142	40	goes	go	VERB
cblr-1695	142	41	public.32	public.32	ADJ
cblr-1695	142	42	in	in	ADP
cblr-1695	142	43	addition	addition	NOUN
cblr-1695	142	44	to	to	ADP
cblr-1695	142	45	direct	direct	ADJ
cblr-1695	142	46	costs	cost	NOUN
cblr-1695	142	47	,	,	PUNCT
cblr-1695	142	48	companies	company	NOUN
cblr-1695	142	49	that	that	PRON
cblr-1695	142	50	go	go	VERB
cblr-1695	142	51	public	public	ADJ
cblr-1695	142	52	also	also	ADV
cblr-1695	142	53	incur	incur	VERB
cblr-1695	142	54	additional	additional	ADJ
cblr-1695	142	55	expenses	expense	NOUN
cblr-1695	142	56	in	in	ADP
cblr-1695	142	57	the	the	DET
cblr-1695	142	58	future	future	NOUN
cblr-1695	142	59	as	as	ADP
cblr-1695	142	60	public	public	ADJ
cblr-1695	142	61	companies	company	NOUN
cblr-1695	142	62	,	,	PUNCT
cblr-1695	142	63	including	include	VERB
cblr-1695	142	64	those	those	PRON
cblr-1695	142	65	related	relate	VERB
cblr-1695	142	66	to	to	ADP
cblr-1695	142	67	increased	increase	VERB
cblr-1695	142	68	audit	audit	NOUN
cblr-1695	142	69	requirements	requirement	NOUN
cblr-1695	142	70	,	,	PUNCT
cblr-1695	142	71	director	director	NOUN
cblr-1695	142	72	and	and	CCONJ
cblr-1695	142	73	officer	officer	NOUN
cblr-1695	142	74	liability	liability	NOUN
cblr-1695	142	75	insurance	insurance	NOUN
cblr-1695	142	76	,	,	PUNCT
cblr-1695	142	77	and	and	CCONJ
cblr-1695	142	78	securities	security	NOUN
cblr-1695	142	79	counsel	counsel	NOUN
cblr-1695	142	80	fees.33	fees.33	PROPN
cblr-1695	142	81	a	a	DET
cblr-1695	142	82	second	second	ADJ
cblr-1695	142	83	disadvantage	disadvantage	NOUN
cblr-1695	142	84	—	—	PUNCT
cblr-1695	142	85	directly	directly	ADV
cblr-1695	142	86	connected	connect	VERB
cblr-1695	142	87	to	to	ADP
cblr-1695	142	88	the	the	DET
cblr-1695	142	89	first	first	ADJ
cblr-1695	142	90	—	—	PUNCT
cblr-1695	142	91	is	be	AUX
cblr-1695	142	92	that	that	SCONJ
cblr-1695	142	93	public	public	ADJ
cblr-1695	142	94	companies	company	NOUN
cblr-1695	142	95	must	must	AUX
cblr-1695	142	96	comply	comply	VERB
cblr-1695	142	97	with	with	ADP
cblr-1695	142	98	many	many	ADJ
cblr-1695	142	99	regulations	regulation	NOUN
cblr-1695	142	100	that	that	PRON
cblr-1695	142	101	largely	largely	ADV
cblr-1695	142	102	do	do	AUX
cblr-1695	142	103	not	not	PART
cblr-1695	142	104	apply	apply	VERB
cblr-1695	142	105	to	to	ADP
cblr-1695	142	106	private	private	ADJ
cblr-1695	142	107	businesses.34	businesses.34	NOUN
cblr-1695	142	108	most	most	ADV
cblr-1695	142	109	notably	notably	ADV
cblr-1695	142	110	,	,	PUNCT
cblr-1695	142	111	the	the	DET
cblr-1695	142	112	securities	security	NOUN
cblr-1695	142	113	act	act	NOUN
cblr-1695	142	114	of	of	ADP
cblr-1695	142	115	1933	1933	NUM
cblr-1695	142	116	(	(	PUNCT
cblr-1695	142	117	the	the	DET
cblr-1695	142	118	“	"	PUNCT
cblr-1695	142	119	1933	1933	NUM
cblr-1695	142	120	act”),35	act”),35	ADP
cblr-1695	142	121	the	the	DET
cblr-1695	142	122	securities	securities	PROPN
cblr-1695	142	123	exchange	exchange	PROPN
cblr-1695	142	124	act	act	NOUN
cblr-1695	142	125	of	of	ADP
cblr-1695	142	126	1934	1934	NUM
cblr-1695	142	127	(	(	PUNCT
cblr-1695	142	128	the	the	DET
cblr-1695	142	129	“	"	PUNCT
cblr-1695	142	130	1934	1934	NUM
cblr-1695	142	131	act”),36	act”),36	VERB
cblr-1695	142	132	the	the	DET
cblr-1695	142	133	foreign	foreign	ADJ
cblr-1695	142	134	corrupt	corrupt	ADJ
cblr-1695	142	135	practices	practice	NOUN
cblr-1695	142	136	act,37	act,37	ADP
cblr-1695	142	137	the	the	DET
cblr-1695	142	138	sarbanes	sarbanes	PROPN
cblr-1695	142	139	-	-	PUNCT
cblr-1695	142	140	oxley	oxley	ADJ
cblr-1695	142	141	act	act	NOUN
cblr-1695	142	142	of	of	ADP
cblr-1695	142	143	2002	2002	NUM
cblr-1695	142	144	(	(	PUNCT
cblr-1695	142	145	“	"	PUNCT
cblr-1695	142	146	sox”),38	sox”),38	NOUN
cblr-1695	142	147	and	and	CCONJ
cblr-1695	142	148	the	the	DET
cblr-1695	142	149	dodd	dodd	PROPN
cblr-1695	142	150	-	-	PUNCT
cblr-1695	142	151	frank	frank	PROPN
cblr-1695	142	152	act	act	NOUN
cblr-1695	142	153	of	of	ADP
cblr-1695	142	154	2010	2010	NUM
cblr-1695	142	155	(	(	PUNCT
cblr-1695	142	156	“	"	PUNCT
cblr-1695	142	157	doddfrank”)39	doddfrank”)39	VERB
cblr-1695	142	158	—	—	PUNCT
cblr-1695	142	159	as	as	ADV
cblr-1695	142	160	well	well	ADV
cblr-1695	142	161	as	as	ADP
cblr-1695	142	162	additional	additional	ADJ
cblr-1695	142	163	rules	rule	NOUN
cblr-1695	142	164	and	and	CCONJ
cblr-1695	142	165	interpretations	interpretation	NOUN
cblr-1695	142	166	expensive	expensive	ADJ
cblr-1695	142	167	one	one	NOUN
cblr-1695	142	168	.	.	PUNCT
cblr-1695	142	169	”	"	PUNCT
cblr-1695	142	170	)	)	PUNCT
cblr-1695	142	171	;	;	PUNCT
cblr-1695	142	172	howard	howard	PROPN
cblr-1695	142	173	tullman	tullman	PROPN
cblr-1695	142	174	,	,	PUNCT
cblr-1695	142	175	6	6	NUM
cblr-1695	142	176	reasons	reason	NOUN
cblr-1695	142	177	companies	company	NOUN
cblr-1695	142	178	are	be	AUX
cblr-1695	142	179	n’t	not	PART
cblr-1695	142	180	going	go	VERB
cblr-1695	142	181	public	public	ADJ
cblr-1695	142	182	,	,	PUNCT
cblr-1695	142	183	inc	inc	PROPN
cblr-1695	142	184	.	.	PROPN
cblr-1695	142	185	(	(	PUNCT
cblr-1695	142	186	apr	apr	PROPN
cblr-1695	142	187	.	.	PROPN
cblr-1695	142	188	18	18	NUM
cblr-1695	142	189	,	,	PUNCT
cblr-1695	142	190	2017	2017	NUM
cblr-1695	142	191	)	)	PUNCT
cblr-1695	142	192	,	,	PUNCT
cblr-1695	142	193	https://www.inc.com/howard-tullman/6reasons-companies-arent-going-public.html	https://www.inc.com/howard-tullman/6reasons-companies-arent-going-public.html	VERB
cblr-1695	143	1	[	[	X
cblr-1695	143	2	https://perma.cc/223l-yhwe	https://perma.cc/223l-yhwe	X
cblr-1695	143	3	]	]	X
cblr-1695	143	4	(	(	PUNCT
cblr-1695	143	5	“	"	PUNCT
cblr-1695	143	6	for	for	ADP
cblr-1695	143	7	real	real	ADJ
cblr-1695	143	8	companies	company	NOUN
cblr-1695	143	9	,	,	PUNCT
cblr-1695	143	10	there	there	PRON
cblr-1695	143	11	’s	’	VERB
cblr-1695	143	12	no	no	DET
cblr-1695	143	13	reason	reason	NOUN
cblr-1695	143	14	to	to	PART
cblr-1695	143	15	[	[	PUNCT
cblr-1695	143	16	conduct	conduct	VERB
cblr-1695	143	17	an	an	DET
cblr-1695	143	18	]	]	PUNCT
cblr-1695	143	19	ipo	ipo	PROPN
cblr-1695	143	20	.	.	PUNCT
cblr-1695	144	1	a	a	DET
cblr-1695	144	2	good	good	ADJ
cblr-1695	144	3	,	,	PUNCT
cblr-1695	144	4	solid	solid	ADJ
cblr-1695	144	5	and	and	CCONJ
cblr-1695	144	6	growing	grow	VERB
cblr-1695	144	7	company	company	NOUN
cblr-1695	144	8	does	do	AUX
cblr-1695	144	9	n’t	not	PART
cblr-1695	144	10	need	need	VERB
cblr-1695	144	11	or	or	CCONJ
cblr-1695	144	12	want	want	VERB
cblr-1695	144	13	the	the	DET
cblr-1695	144	14	help	help	NOUN
cblr-1695	144	15	,	,	PUNCT
cblr-1695	144	16	the	the	DET
cblr-1695	144	17	heartaches	heartache	NOUN
cblr-1695	144	18	,	,	PUNCT
cblr-1695	144	19	or	or	CCONJ
cblr-1695	144	20	the	the	DET
cblr-1695	144	21	hurrahs	hurrah	NOUN
cblr-1695	144	22	of	of	ADP
cblr-1695	144	23	being	be	AUX
cblr-1695	144	24	public	public	ADJ
cblr-1695	144	25	.	.	PUNCT
cblr-1695	144	26	”	"	PUNCT
cblr-1695	144	27	)	)	PUNCT
cblr-1695	144	28	.	.	PUNCT
cblr-1695	145	1	31	31	NUM
cblr-1695	145	2	westenberg	westenberg	PROPN
cblr-1695	145	3	,	,	PUNCT
cblr-1695	145	4	supra	supra	PROPN
cblr-1695	145	5	note	note	PROPN
cblr-1695	145	6	21	21	NUM
cblr-1695	145	7	,	,	PUNCT
cblr-1695	145	8	§	§	PROPN
cblr-1695	145	9	1:2.2	1:2.2	NUM
cblr-1695	145	10	.	.	PUNCT
cblr-1695	145	11	32	32	NUM
cblr-1695	146	1	i	i	PRON
cblr-1695	146	2	d.	d.	NOUN
cblr-1695	146	3	for	for	ADP
cblr-1695	146	4	example	example	NOUN
cblr-1695	146	5	,	,	PUNCT
cblr-1695	146	6	the	the	DET
cblr-1695	146	7	median	median	ADJ
cblr-1695	146	8	total	total	NOUN
cblr-1695	146	9	expenses	expense	NOUN
cblr-1695	146	10	for	for	ADP
cblr-1695	146	11	all	all	DET
cblr-1695	146	12	u.s	u.s	PROPN
cblr-1695	146	13	.	.	PROPN
cblr-1695	146	14	ipos	ipos	PROPN
cblr-1695	146	15	in	in	ADP
cblr-1695	146	16	the	the	DET
cblr-1695	146	17	first	first	ADJ
cblr-1695	146	18	half	half	NOUN
cblr-1695	146	19	of	of	ADP
cblr-1695	146	20	2016	2016	NUM
cblr-1695	146	21	was	be	AUX
cblr-1695	146	22	$	$	SYM
cblr-1695	146	23	3.2	3.2	NUM
cblr-1695	146	24	million	million	NUM
cblr-1695	146	25	.	.	PUNCT
cblr-1695	147	1	i	i	PRON
cblr-1695	147	2	d.	d.	PROPN
cblr-1695	147	3	33	33	NUM
cblr-1695	148	1	i	i	PRON
cblr-1695	148	2	d.	d.	PROPN
cblr-1695	148	3	for	for	ADP
cblr-1695	148	4	example	example	NOUN
cblr-1695	148	5	,	,	PUNCT
cblr-1695	148	6	a	a	DET
cblr-1695	148	7	financial	financial	ADJ
cblr-1695	148	8	executives	executive	NOUN
cblr-1695	148	9	international	international	ADJ
cblr-1695	148	10	survey	survey	NOUN
cblr-1695	148	11	found	find	VERB
cblr-1695	148	12	that	that	SCONJ
cblr-1695	148	13	publicly	publicly	ADV
cblr-1695	148	14	held	hold	VERB
cblr-1695	148	15	companies	company	NOUN
cblr-1695	148	16	paid	pay	VERB
cblr-1695	148	17	an	an	DET
cblr-1695	148	18	average	average	NOUN
cblr-1695	148	19	of	of	ADP
cblr-1695	148	20	$	$	SYM
cblr-1695	148	21	3.3	3.3	NUM
cblr-1695	148	22	million	million	NUM
cblr-1695	148	23	on	on	ADP
cblr-1695	148	24	audit	audit	NOUN
cblr-1695	148	25	fees	fee	NOUN
cblr-1695	148	26	in	in	ADP
cblr-1695	148	27	2010	2010	NUM
cblr-1695	148	28	,	,	PUNCT
cblr-1695	148	29	while	while	SCONJ
cblr-1695	148	30	privately	privately	ADV
cblr-1695	148	31	held	hold	VERB
cblr-1695	148	32	companies	company	NOUN
cblr-1695	148	33	spent	spend	VERB
cblr-1695	148	34	an	an	DET
cblr-1695	148	35	average	average	NOUN
cblr-1695	148	36	of	of	ADP
cblr-1695	148	37	only	only	ADV
cblr-1695	148	38	$	$	SYM
cblr-1695	148	39	222,300	222,300	NUM
cblr-1695	148	40	.	.	PUNCT
cblr-1695	149	1	hamilton	hamilton	PROPN
cblr-1695	149	2	,	,	PUNCT
cblr-1695	149	3	supra	supra	PROPN
cblr-1695	149	4	note	note	PROPN
cblr-1695	149	5	29	29	NUM
cblr-1695	149	6	.	.	PUNCT
cblr-1695	150	1	34	34	NUM
cblr-1695	150	2	westenberg	westenberg	PROPN
cblr-1695	150	3	,	,	PUNCT
cblr-1695	150	4	supra	supra	PROPN
cblr-1695	150	5	note	note	PROPN
cblr-1695	150	6	21	21	NUM
cblr-1695	150	7	,	,	PUNCT
cblr-1695	150	8	§	§	PROPN
cblr-1695	150	9	1:2.2	1:2.2	NUM
cblr-1695	150	10	.	.	NOUN
cblr-1695	150	11	35	35	NUM
cblr-1695	150	12	securities	security	NOUN
cblr-1695	150	13	act	act	NOUN
cblr-1695	150	14	of	of	ADP
cblr-1695	150	15	1933	1933	NUM
cblr-1695	150	16	,	,	PUNCT
cblr-1695	150	17	pub	pub	NOUN
cblr-1695	150	18	.	.	PUNCT
cblr-1695	151	1	l.	l.	PROPN
cblr-1695	151	2	no	no	INTJ
cblr-1695	151	3	.	.	PUNCT
cblr-1695	152	1	73	73	NUM
cblr-1695	152	2	-	-	SYM
cblr-1695	152	3	22	22	NUM
cblr-1695	152	4	,	,	PUNCT
cblr-1695	152	5	48	48	NUM
cblr-1695	152	6	stat	stat	NOUN
cblr-1695	152	7	.	.	PUNCT
cblr-1695	153	1	74	74	NUM
cblr-1695	153	2	(	(	PUNCT
cblr-1695	153	3	1933	1933	NUM
cblr-1695	153	4	)	)	PUNCT
cblr-1695	153	5	(	(	PUNCT
cblr-1695	153	6	codified	codify	VERB
cblr-1695	153	7	as	as	SCONJ
cblr-1695	153	8	amended	amend	VERB
cblr-1695	153	9	in	in	ADP
cblr-1695	153	10	scattered	scatter	VERB
cblr-1695	153	11	sections	section	NOUN
cblr-1695	153	12	of	of	ADP
cblr-1695	153	13	15	15	NUM
cblr-1695	153	14	u.s.c	u.s.c	ADJ
cblr-1695	153	15	.	.	PUNCT
cblr-1695	153	16	)	)	PUNCT
cblr-1695	153	17	.	.	PUNCT
cblr-1695	154	1	36	36	NUM
cblr-1695	154	2	securities	security	NOUN
cblr-1695	154	3	exchange	exchange	PROPN
cblr-1695	154	4	act	act	NOUN
cblr-1695	154	5	of	of	ADP
cblr-1695	154	6	1934	1934	NUM
cblr-1695	154	7	,	,	PUNCT
cblr-1695	154	8	pub	pub	NOUN
cblr-1695	154	9	.	.	PUNCT
cblr-1695	155	1	l.	l.	PROPN
cblr-1695	155	2	no	no	INTJ
cblr-1695	155	3	.	.	PROPN
cblr-1695	156	1	73	73	NUM
cblr-1695	156	2	-	-	SYM
cblr-1695	156	3	291	291	NUM
cblr-1695	156	4	,	,	PUNCT
cblr-1695	156	5	48	48	NUM
cblr-1695	156	6	stat	stat	NOUN
cblr-1695	156	7	.	.	PUNCT
cblr-1695	157	1	881	881	NUM
cblr-1695	157	2	(	(	PUNCT
cblr-1695	157	3	1934	1934	NUM
cblr-1695	157	4	)	)	PUNCT
cblr-1695	157	5	(	(	PUNCT
cblr-1695	157	6	codified	codify	VERB
cblr-1695	157	7	as	as	SCONJ
cblr-1695	157	8	amended	amend	VERB
cblr-1695	157	9	in	in	ADP
cblr-1695	157	10	scattered	scatter	VERB
cblr-1695	157	11	sections	section	NOUN
cblr-1695	157	12	of	of	ADP
cblr-1695	157	13	15	15	NUM
cblr-1695	157	14	u.s.c	u.s.c	ADJ
cblr-1695	157	15	.	.	PUNCT
cblr-1695	157	16	)	)	PUNCT
cblr-1695	157	17	.	.	PUNCT
cblr-1695	158	1	37	37	NUM
cblr-1695	158	2	foreign	foreign	ADJ
cblr-1695	158	3	corrupt	corrupt	ADJ
cblr-1695	158	4	practices	practice	NOUN
cblr-1695	158	5	act	act	NOUN
cblr-1695	158	6	of	of	ADP
cblr-1695	158	7	1977	1977	NUM
cblr-1695	158	8	,	,	PUNCT
cblr-1695	158	9	pub	pub	NOUN
cblr-1695	158	10	.	.	PUNCT
cblr-1695	159	1	l.	l.	PROPN
cblr-1695	159	2	no	no	INTJ
cblr-1695	159	3	.	.	PROPN
cblr-1695	160	1	95	95	NUM
cblr-1695	160	2	-	-	SYM
cblr-1695	160	3	213	213	NUM
cblr-1695	160	4	,	,	PUNCT
cblr-1695	160	5	91	91	NUM
cblr-1695	160	6	stat	stat	NOUN
cblr-1695	160	7	.	.	PUNCT
cblr-1695	161	1	1494	1494	NUM
cblr-1695	161	2	(	(	PUNCT
cblr-1695	161	3	1977	1977	NUM
cblr-1695	161	4	)	)	PUNCT
cblr-1695	161	5	(	(	PUNCT
cblr-1695	161	6	codified	codify	VERB
cblr-1695	161	7	as	as	SCONJ
cblr-1695	161	8	amended	amend	VERB
cblr-1695	161	9	in	in	ADP
cblr-1695	161	10	scattered	scatter	VERB
cblr-1695	161	11	sections	section	NOUN
cblr-1695	161	12	of	of	ADP
cblr-1695	161	13	15	15	NUM
cblr-1695	161	14	u.s.c	u.s.c	ADJ
cblr-1695	161	15	.	.	PUNCT
cblr-1695	161	16	)	)	PUNCT
cblr-1695	161	17	.	.	PUNCT
cblr-1695	162	1	38	38	NUM
cblr-1695	162	2	sarbanes	sarbanes	PROPN
cblr-1695	162	3	-	-	PUNCT
cblr-1695	162	4	oxley	oxley	ADJ
cblr-1695	162	5	act	act	NOUN
cblr-1695	162	6	of	of	ADP
cblr-1695	162	7	2002	2002	NUM
cblr-1695	162	8	,	,	PUNCT
cblr-1695	162	9	pub	pub	NOUN
cblr-1695	162	10	.	.	PUNCT
cblr-1695	163	1	l.	l.	PROPN
cblr-1695	163	2	107	107	PROPN
cblr-1695	163	3	-	-	SYM
cblr-1695	163	4	204	204	NUM
cblr-1695	163	5	,	,	PUNCT
cblr-1695	163	6	116	116	NUM
cblr-1695	163	7	stat	stat	NOUN
cblr-1695	163	8	.	.	PUNCT
cblr-1695	164	1	745	745	NUM
cblr-1695	164	2	(	(	PUNCT
cblr-1695	164	3	2002	2002	NUM
cblr-1695	164	4	)	)	PUNCT
cblr-1695	164	5	(	(	PUNCT
cblr-1695	164	6	codified	codify	VERB
cblr-1695	164	7	as	as	SCONJ
cblr-1695	164	8	amended	amend	VERB
cblr-1695	164	9	in	in	ADP
cblr-1695	164	10	scattered	scatter	VERB
cblr-1695	164	11	sections	section	NOUN
cblr-1695	164	12	of	of	ADP
cblr-1695	164	13	15	15	NUM
cblr-1695	164	14	u.s.c	u.s.c	ADJ
cblr-1695	164	15	.	.	PUNCT
cblr-1695	164	16	)	)	PUNCT
cblr-1695	164	17	.	.	PUNCT
cblr-1695	165	1	39	39	NUM
cblr-1695	165	2	dodd	dodd	PROPN
cblr-1695	165	3	-	-	PUNCT
cblr-1695	165	4	frank	frank	PROPN
cblr-1695	165	5	wall	wall	PROPN
cblr-1695	165	6	street	street	PROPN
cblr-1695	165	7	reform	reform	PROPN
cblr-1695	165	8	and	and	CCONJ
cblr-1695	165	9	consumer	consumer	NOUN
cblr-1695	165	10	protection	protection	PROPN
cblr-1695	165	11	act	act	PROPN
cblr-1695	165	12	,	,	PUNCT
cblr-1695	165	13	pub	pub	NOUN
cblr-1695	165	14	.	.	PUNCT
cblr-1695	166	1	l.	l.	PROPN
cblr-1695	166	2	111	111	NUM
cblr-1695	166	3	-	-	SYM
cblr-1695	166	4	203	203	NUM
cblr-1695	166	5	,	,	PUNCT
cblr-1695	166	6	124	124	NUM
cblr-1695	166	7	stat	stat	NOUN
cblr-1695	166	8	.	.	PUNCT
cblr-1695	167	1	1376	1376	NUM
cblr-1695	167	2	(	(	PUNCT
cblr-1695	167	3	2010	2010	NUM
cblr-1695	167	4	)	)	PUNCT
cblr-1695	167	5	(	(	PUNCT
cblr-1695	167	6	codified	codify	VERB
cblr-1695	167	7	as	as	SCONJ
cblr-1695	167	8	amended	amend	VERB
cblr-1695	167	9	in	in	ADP
cblr-1695	167	10	scattered	scatter	VERB
cblr-1695	167	11	sections	section	NOUN
cblr-1695	167	12	of	of	ADP
cblr-1695	167	13	12	12	NUM
cblr-1695	167	14	u.s.c	u.s.c	ADJ
cblr-1695	167	15	.	.	PUNCT
cblr-1695	168	1	and	and	CCONJ
cblr-1695	168	2	15	15	NUM
cblr-1695	168	3	u.s.c	u.s.c	ADJ
cblr-1695	168	4	.	.	PUNCT
cblr-1695	168	5	)	)	PUNCT
cblr-1695	168	6	.	.	PUNCT
cblr-1695	169	1	316	316	NUM
cblr-1695	169	2	columbia	columbia	PROPN
cblr-1695	169	3	business	business	NOUN
cblr-1695	169	4	law	law	PROPN
cblr-1695	169	5	review	review	NOUN
cblr-1695	169	6	[	[	X
cblr-1695	169	7	vol	vol	NOUN
cblr-1695	169	8	.	.	NOUN
cblr-1695	169	9	2019	2019	NUM
cblr-1695	169	10	promulgated	promulgate	VERB
cblr-1695	169	11	by	by	ADP
cblr-1695	169	12	the	the	DET
cblr-1695	169	13	sec	sec	PROPN
cblr-1695	169	14	—	—	PUNCT
cblr-1695	169	15	impose	impose	VERB
cblr-1695	169	16	enhanced	enhanced	ADJ
cblr-1695	169	17	regulatory	regulatory	ADJ
cblr-1695	169	18	requirements	requirement	NOUN
cblr-1695	169	19	on	on	ADP
cblr-1695	169	20	public	public	ADJ
cblr-1695	169	21	companies.40	companies.40	PROPN
cblr-1695	169	22	for	for	ADP
cblr-1695	169	23	example	example	NOUN
cblr-1695	169	24	,	,	PUNCT
cblr-1695	169	25	under	under	ADP
cblr-1695	169	26	section	section	NOUN
cblr-1695	169	27	13	13	NUM
cblr-1695	169	28	of	of	ADP
cblr-1695	169	29	the	the	DET
cblr-1695	169	30	1934	1934	NUM
cblr-1695	169	31	act	act	NOUN
cblr-1695	169	32	,	,	PUNCT
cblr-1695	169	33	a	a	DET
cblr-1695	169	34	public	public	ADJ
cblr-1695	169	35	company	company	NOUN
cblr-1695	169	36	must	must	AUX
cblr-1695	169	37	file	file	VERB
cblr-1695	169	38	periodic	periodic	ADJ
cblr-1695	169	39	reports	report	NOUN
cblr-1695	169	40	with	with	ADP
cblr-1695	169	41	the	the	DET
cblr-1695	169	42	sec	sec	PROPN
cblr-1695	169	43	and	and	CCONJ
cblr-1695	169	44	comply	comply	VERB
cblr-1695	169	45	with	with	ADP
cblr-1695	169	46	enhanced	enhanced	ADJ
cblr-1695	169	47	auditing	auditing	NOUN
cblr-1695	169	48	of	of	ADP
cblr-1695	169	49	financial	financial	ADJ
cblr-1695	169	50	reports.41	reports.41	NOUN
cblr-1695	169	51	these	these	DET
cblr-1695	169	52	additional	additional	ADJ
cblr-1695	169	53	requirements	requirement	NOUN
cblr-1695	169	54	not	not	PART
cblr-1695	169	55	only	only	ADV
cblr-1695	169	56	demand	demand	VERB
cblr-1695	169	57	company	company	NOUN
cblr-1695	169	58	time	time	NOUN
cblr-1695	169	59	,	,	PUNCT
cblr-1695	169	60	resources	resource	NOUN
cblr-1695	169	61	,	,	PUNCT
cblr-1695	169	62	and	and	CCONJ
cblr-1695	169	63	expertise	expertise	NOUN
cblr-1695	169	64	,	,	PUNCT
cblr-1695	169	65	but	but	CCONJ
cblr-1695	169	66	also	also	ADV
cblr-1695	169	67	result	result	VERB
cblr-1695	169	68	in	in	ADP
cblr-1695	169	69	substantial	substantial	ADJ
cblr-1695	169	70	costs.42	costs.42	NOUN
cblr-1695	169	71	a	a	DET
cblr-1695	169	72	third	third	ADJ
cblr-1695	169	73	disadvantage	disadvantage	NOUN
cblr-1695	169	74	of	of	ADP
cblr-1695	169	75	an	an	DET
cblr-1695	169	76	ipo	ipo	NOUN
cblr-1695	169	77	is	be	AUX
cblr-1695	169	78	that	that	SCONJ
cblr-1695	169	79	,	,	PUNCT
cblr-1695	169	80	because	because	SCONJ
cblr-1695	169	81	regulatory	regulatory	ADJ
cblr-1695	169	82	filings	filing	NOUN
cblr-1695	169	83	are	be	AUX
cblr-1695	169	84	public	public	ADJ
cblr-1695	169	85	,	,	PUNCT
cblr-1695	169	86	a	a	DET
cblr-1695	169	87	company	company	NOUN
cblr-1695	169	88	’s	’s	PART
cblr-1695	169	89	competitors	competitor	NOUN
cblr-1695	169	90	gain	gain	VERB
cblr-1695	169	91	access	access	NOUN
cblr-1695	169	92	to	to	ADP
cblr-1695	169	93	information	information	NOUN
cblr-1695	169	94	that	that	PRON
cblr-1695	169	95	was	be	AUX
cblr-1695	169	96	previously	previously	ADV
cblr-1695	169	97	confidential	confidential	ADJ
cblr-1695	169	98	,	,	PUNCT
cblr-1695	169	99	such	such	ADJ
cblr-1695	169	100	as	as	ADP
cblr-1695	169	101	financial	financial	ADJ
cblr-1695	169	102	statements.43	statements.43	PROPN
cblr-1695	169	103	finally	finally	ADV
cblr-1695	169	104	,	,	PUNCT
cblr-1695	169	105	increased	increase	VERB
cblr-1695	169	106	potential	potential	ADJ
cblr-1695	169	107	liability	liability	NOUN
cblr-1695	169	108	for	for	ADP
cblr-1695	169	109	the	the	DET
cblr-1695	169	110	company	company	NOUN
cblr-1695	169	111	is	be	AUX
cblr-1695	169	112	a	a	DET
cblr-1695	169	113	major	major	ADJ
cblr-1695	169	114	disadvantage	disadvantage	NOUN
cblr-1695	169	115	of	of	ADP
cblr-1695	169	116	going	go	VERB
cblr-1695	169	117	public.44	public.44	NOUN
cblr-1695	169	118	this	this	DET
cblr-1695	169	119	liability	liability	NOUN
cblr-1695	169	120	often	often	ADV
cblr-1695	169	121	stems	stem	VERB
cblr-1695	169	122	from	from	ADP
cblr-1695	169	123	material	material	ADJ
cblr-1695	169	124	misstatements	misstatement	NOUN
cblr-1695	169	125	or	or	CCONJ
cblr-1695	169	126	omissions	omission	NOUN
cblr-1695	169	127	in	in	ADP
cblr-1695	169	128	public	public	ADJ
cblr-1695	169	129	disclosures	disclosure	NOUN
cblr-1695	169	130	and	and	CCONJ
cblr-1695	169	131	can	can	AUX
cblr-1695	169	132	lead	lead	VERB
cblr-1695	169	133	to	to	ADP
cblr-1695	169	134	timeconsuming	timeconsuming	ADJ
cblr-1695	169	135	,	,	PUNCT
cblr-1695	169	136	expensive	expensive	ADJ
cblr-1695	169	137	class	class	NOUN
cblr-1695	169	138	action	action	NOUN
cblr-1695	169	139	and	and	CCONJ
cblr-1695	169	140	derivative	derivative	NOUN
cblr-1695	169	141	lawsuits.45	lawsuits.45	NOUN
cblr-1695	169	142	because	because	SCONJ
cblr-1695	169	143	the	the	DET
cblr-1695	169	144	stakes	stake	NOUN
cblr-1695	169	145	of	of	ADP
cblr-1695	169	146	shareholder	shareholder	NOUN
cblr-1695	169	147	litigation	litigation	NOUN
cblr-1695	169	148	are	be	AUX
cblr-1695	169	149	high,46	high,46	NOUN
cblr-1695	169	150	“	"	PUNCT
cblr-1695	169	151	an	an	DET
cblr-1695	169	152	40	40	NUM
cblr-1695	169	153	see	see	NOUN
cblr-1695	169	154	marc	marc	PROPN
cblr-1695	169	155	i.	i.	PROPN
cblr-1695	169	156	steinberg	steinberg	PROPN
cblr-1695	169	157	,	,	PUNCT
cblr-1695	169	158	understanding	understand	VERB
cblr-1695	169	159	securities	security	NOUN
cblr-1695	169	160	law	law	NOUN
cblr-1695	169	161	149–50	149–50	NUM
cblr-1695	169	162	(	(	PUNCT
cblr-1695	169	163	6th	6th	ADJ
cblr-1695	169	164	ed	ed	NOUN
cblr-1695	169	165	.	.	PROPN
cblr-1695	169	166	2014	2014	NUM
cblr-1695	169	167	)	)	PUNCT
cblr-1695	169	168	;	;	PUNCT
cblr-1695	170	1	westenberg	westenberg	PROPN
cblr-1695	170	2	,	,	PUNCT
cblr-1695	170	3	supra	supra	PROPN
cblr-1695	170	4	note	note	PROPN
cblr-1695	170	5	21	21	NUM
cblr-1695	170	6	,	,	PUNCT
cblr-1695	170	7	§	§	PROPN
cblr-1695	170	8	1:2.2	1:2.2	NUM
cblr-1695	170	9	.	.	PUNCT
cblr-1695	170	10	41	41	NUM
cblr-1695	170	11	o’kelley	o’kelley	PUNCT
cblr-1695	170	12	&	&	CCONJ
cblr-1695	170	13	thompson	thompson	PROPN
cblr-1695	170	14	,	,	PUNCT
cblr-1695	170	15	supra	supra	PROPN
cblr-1695	170	16	note	note	PROPN
cblr-1695	170	17	18	18	NUM
cblr-1695	170	18	,	,	PUNCT
cblr-1695	170	19	at	at	ADP
cblr-1695	170	20	229	229	NUM
cblr-1695	170	21	.	.	PUNCT
cblr-1695	171	1	an	an	DET
cblr-1695	171	2	exhaustive	exhaustive	ADJ
cblr-1695	171	3	discussion	discussion	NOUN
cblr-1695	171	4	of	of	ADP
cblr-1695	171	5	the	the	DET
cblr-1695	171	6	various	various	ADJ
cblr-1695	171	7	regulatory	regulatory	ADJ
cblr-1695	171	8	requirements	requirement	NOUN
cblr-1695	171	9	to	to	PART
cblr-1695	171	10	which	which	PRON
cblr-1695	171	11	public	public	ADJ
cblr-1695	171	12	companies	company	NOUN
cblr-1695	171	13	are	be	AUX
cblr-1695	171	14	subject	subject	ADJ
cblr-1695	171	15	is	be	AUX
cblr-1695	171	16	beyond	beyond	ADP
cblr-1695	171	17	the	the	DET
cblr-1695	171	18	scope	scope	NOUN
cblr-1695	171	19	of	of	ADP
cblr-1695	171	20	this	this	DET
cblr-1695	171	21	note	note	NOUN
cblr-1695	171	22	.	.	PUNCT
cblr-1695	172	1	it	it	PRON
cblr-1695	172	2	suffices	suffice	VERB
cblr-1695	172	3	here	here	ADV
cblr-1695	172	4	to	to	PART
cblr-1695	172	5	say	say	VERB
cblr-1695	172	6	that	that	SCONJ
cblr-1695	172	7	the	the	DET
cblr-1695	172	8	pecuniary	pecuniary	ADJ
cblr-1695	172	9	and	and	CCONJ
cblr-1695	172	10	non	non	ADJ
cblr-1695	172	11	-	-	ADJ
cblr-1695	172	12	pecuniary	pecuniary	ADJ
cblr-1695	172	13	costs	cost	NOUN
cblr-1695	172	14	of	of	ADP
cblr-1695	172	15	complying	comply	VERB
cblr-1695	172	16	with	with	ADP
cblr-1695	172	17	such	such	ADJ
cblr-1695	172	18	requirements	requirement	NOUN
cblr-1695	172	19	is	be	AUX
cblr-1695	172	20	a	a	DET
cblr-1695	172	21	disadvantage	disadvantage	NOUN
cblr-1695	172	22	to	to	ADP
cblr-1695	172	23	going	go	VERB
cblr-1695	172	24	public	public	ADJ
cblr-1695	172	25	for	for	ADP
cblr-1695	172	26	many	many	ADJ
cblr-1695	172	27	companies	company	NOUN
cblr-1695	172	28	.	.	PUNCT
cblr-1695	173	1	for	for	ADP
cblr-1695	173	2	more	more	ADV
cblr-1695	173	3	comprehensive	comprehensive	ADJ
cblr-1695	173	4	looks	look	NOUN
cblr-1695	173	5	at	at	ADP
cblr-1695	173	6	public	public	ADJ
cblr-1695	173	7	company	company	NOUN
cblr-1695	173	8	regulations	regulation	NOUN
cblr-1695	173	9	,	,	PUNCT
cblr-1695	173	10	see	see	VERB
cblr-1695	173	11	allan	allan	PROPN
cblr-1695	173	12	b.	b.	PROPN
cblr-1695	173	13	afterman	afterman	PROPN
cblr-1695	173	14	,	,	PUNCT
cblr-1695	173	15	sec	sec	PROPN
cblr-1695	173	16	regulation	regulation	NOUN
cblr-1695	173	17	of	of	ADP
cblr-1695	173	18	public	public	ADJ
cblr-1695	173	19	companies	company	NOUN
cblr-1695	173	20	(	(	PUNCT
cblr-1695	173	21	1995	1995	NUM
cblr-1695	173	22	)	)	PUNCT
cblr-1695	173	23	;	;	PUNCT
cblr-1695	173	24	wallace	wallace	NOUN
cblr-1695	173	25	timmeny	timmeny	PROPN
cblr-1695	173	26	,	,	PUNCT
cblr-1695	173	27	an	an	DET
cblr-1695	173	28	overview	overview	NOUN
cblr-1695	173	29	of	of	ADP
cblr-1695	173	30	the	the	DET
cblr-1695	173	31	fcpa	fcpa	NOUN
cblr-1695	173	32	,	,	PUNCT
cblr-1695	173	33	9	9	NUM
cblr-1695	173	34	syracuse	syracuse	PROPN
cblr-1695	173	35	j.	j.	PROPN
cblr-1695	173	36	int’l	int’l	PROPN
cblr-1695	173	37	l.	l.	PROPN
cblr-1695	173	38	&	&	CCONJ
cblr-1695	173	39	com	com	PROPN
cblr-1695	173	40	.	.	PROPN
cblr-1695	173	41	235	235	NUM
cblr-1695	173	42	(	(	PUNCT
cblr-1695	173	43	1982	1982	NUM
cblr-1695	173	44	)	)	PUNCT
cblr-1695	173	45	;	;	PUNCT
cblr-1695	173	46	brian	brian	PROPN
cblr-1695	173	47	kim	kim	PROPN
cblr-1695	173	48	,	,	PUNCT
cblr-1695	173	49	recent	recent	ADJ
cblr-1695	173	50	development	development	NOUN
cblr-1695	173	51	,	,	PUNCT
cblr-1695	173	52	sarbanes	sarbanes	PROPN
cblr-1695	173	53	-	-	PUNCT
cblr-1695	173	54	oxley	oxley	PROPN
cblr-1695	173	55	act	act	NOUN
cblr-1695	173	56	,	,	PUNCT
cblr-1695	173	57	40	40	NUM
cblr-1695	173	58	harv	harv	NOUN
cblr-1695	173	59	.	.	PUNCT
cblr-1695	174	1	j.	j.	PROPN
cblr-1695	174	2	on	on	ADP
cblr-1695	174	3	legis	legis	PROPN
cblr-1695	174	4	.	.	PUNCT
cblr-1695	175	1	235	235	NUM
cblr-1695	175	2	(	(	PUNCT
cblr-1695	175	3	2003	2003	NUM
cblr-1695	175	4	)	)	PUNCT
cblr-1695	175	5	;	;	PUNCT
cblr-1695	175	6	and	and	CCONJ
cblr-1695	175	7	david	david	PROPN
cblr-1695	175	8	s.	s.	PROPN
cblr-1695	175	9	huntington	huntington	PROPN
cblr-1695	175	10	,	,	PUNCT
cblr-1695	175	11	summary	summary	NOUN
cblr-1695	175	12	of	of	ADP
cblr-1695	175	13	dodd	dodd	PROPN
cblr-1695	175	14	-	-	PUNCT
cblr-1695	175	15	frank	frank	ADJ
cblr-1695	175	16	financial	financial	ADJ
cblr-1695	175	17	regulation	regulation	NOUN
cblr-1695	175	18	legislation	legislation	NOUN
cblr-1695	175	19	,	,	PUNCT
cblr-1695	175	20	harv	harv	PROPN
cblr-1695	175	21	.	.	PUNCT
cblr-1695	176	1	l.	l.	PROPN
cblr-1695	176	2	sch	sch	PROPN
cblr-1695	176	3	.	.	PUNCT
cblr-1695	177	1	f.	f.	PROPN
cblr-1695	177	2	on	on	ADP
cblr-1695	177	3	corp	corp	PROPN
cblr-1695	177	4	.	.	PROPN
cblr-1695	177	5	governance	governance	PROPN
cblr-1695	177	6	&	&	CCONJ
cblr-1695	177	7	fin	fin	PROPN
cblr-1695	177	8	.	.	PUNCT
cblr-1695	178	1	reg	reg	PROPN
cblr-1695	178	2	.	.	PUNCT
cblr-1695	179	1	(	(	PUNCT
cblr-1695	179	2	july	july	PROPN
cblr-1695	179	3	7	7	NUM
cblr-1695	179	4	,	,	PUNCT
cblr-1695	179	5	2010	2010	NUM
cblr-1695	179	6	)	)	PUNCT
cblr-1695	179	7	,	,	PUNCT
cblr-1695	179	8	https://corpgov.law.harvard.edu/2010/07/07/	https://corpgov.law.harvard.edu/2010/07/07/	ADJ
cblr-1695	179	9	summary	summary	NOUN
cblr-1695	179	10	-	-	PUNCT
cblr-1695	179	11	of	of	ADP
cblr-1695	179	12	-	-	PUNCT
cblr-1695	179	13	dodd	dodd	NOUN
cblr-1695	179	14	-	-	PUNCT
cblr-1695	179	15	frank	frank	ADJ
cblr-1695	179	16	-	-	PUNCT
cblr-1695	179	17	financial	financial	ADJ
cblr-1695	179	18	-	-	PUNCT
cblr-1695	179	19	regulation	regulation	NOUN
cblr-1695	179	20	-	-	PUNCT
cblr-1695	179	21	legislation/	legislation/	NOUN
cblr-1695	180	1	[	[	X
cblr-1695	180	2	https://perma.cc/	https://perma.cc/	VERB
cblr-1695	180	3	93hc	93hc	NOUN
cblr-1695	180	4	-	-	PUNCT
cblr-1695	180	5	c6xa	c6xa	X
cblr-1695	180	6	]	]	PUNCT
cblr-1695	180	7	.	.	PUNCT
cblr-1695	181	1	42	42	NUM
cblr-1695	181	2	steinberg	steinberg	PROPN
cblr-1695	181	3	,	,	PUNCT
cblr-1695	181	4	supra	supra	PROPN
cblr-1695	181	5	note	note	PROPN
cblr-1695	181	6	40	40	NUM
cblr-1695	181	7	,	,	PUNCT
cblr-1695	181	8	at	at	ADP
cblr-1695	181	9	150	150	NUM
cblr-1695	181	10	(	(	PUNCT
cblr-1695	181	11	“	"	PUNCT
cblr-1695	181	12	the	the	DET
cblr-1695	181	13	expenses	expense	NOUN
cblr-1695	181	14	of	of	ADP
cblr-1695	181	15	complying	comply	VERB
cblr-1695	181	16	with	with	ADP
cblr-1695	181	17	exchange	exchange	NOUN
cblr-1695	181	18	act	act	NOUN
cblr-1695	181	19	[	[	X
cblr-1695	181	20	of	of	ADP
cblr-1695	181	21	1934	1934	NUM
cblr-1695	181	22	]	]	PUNCT
cblr-1695	181	23	and	and	CCONJ
cblr-1695	181	24	sox	sox	PROPN
cblr-1695	181	25	requirements	requirement	NOUN
cblr-1695	181	26	will	will	AUX
cblr-1695	181	27	be	be	AUX
cblr-1695	181	28	substantial	substantial	ADJ
cblr-1695	181	29	.	.	PUNCT
cblr-1695	181	30	”	"	PUNCT
cblr-1695	181	31	)	)	PUNCT
cblr-1695	181	32	;	;	PUNCT
cblr-1695	181	33	see	see	VERB
cblr-1695	181	34	also	also	ADV
cblr-1695	181	35	supra	supra	PROPN
cblr-1695	181	36	note	note	VERB
cblr-1695	181	37	33	33	NUM
cblr-1695	181	38	and	and	CCONJ
cblr-1695	181	39	accompanying	accompany	VERB
cblr-1695	181	40	text	text	NOUN
cblr-1695	181	41	.	.	PUNCT
cblr-1695	182	1	43	43	NUM
cblr-1695	182	2	westenberg	westenberg	PROPN
cblr-1695	182	3	,	,	PUNCT
cblr-1695	182	4	supra	supra	PROPN
cblr-1695	182	5	note	note	PROPN
cblr-1695	182	6	21	21	NUM
cblr-1695	182	7	,	,	PUNCT
cblr-1695	182	8	§	§	PROPN
cblr-1695	182	9	1:2.2	1:2.2	NUM
cblr-1695	182	10	.	.	PUNCT
cblr-1695	182	11	44	44	NUM
cblr-1695	182	12	see	see	VERB
cblr-1695	182	13	carl	carl	PROPN
cblr-1695	182	14	w.	w.	PROPN
cblr-1695	182	15	schneider	schneider	PROPN
cblr-1695	182	16	,	,	PUNCT
cblr-1695	182	17	joseph	joseph	PROPN
cblr-1695	182	18	m.	m.	PROPN
cblr-1695	182	19	manko	manko	PROPN
cblr-1695	182	20	&	&	CCONJ
cblr-1695	182	21	robert	robert	PROPN
cblr-1695	182	22	s.	s.	PROPN
cblr-1695	182	23	kant	kant	PROPN
cblr-1695	182	24	,	,	PUNCT
cblr-1695	182	25	going	go	VERB
cblr-1695	182	26	public	public	ADJ
cblr-1695	182	27	:	:	PUNCT
cblr-1695	182	28	practice	practice	NOUN
cblr-1695	182	29	,	,	PUNCT
cblr-1695	182	30	procedure	procedure	NOUN
cblr-1695	182	31	and	and	CCONJ
cblr-1695	182	32	consequences	consequence	NOUN
cblr-1695	182	33	5	5	NUM
cblr-1695	182	34	(	(	PUNCT
cblr-1695	182	35	1999	1999	NUM
cblr-1695	182	36	)	)	PUNCT
cblr-1695	182	37	.	.	PUNCT
cblr-1695	183	1	45	45	NUM
cblr-1695	184	1	i	i	PRON
cblr-1695	184	2	d.	d.	NOUN
cblr-1695	184	3	at	at	ADP
cblr-1695	184	4	5	5	NUM
cblr-1695	184	5	;	;	PUNCT
cblr-1695	184	6	westenberg	westenberg	PROPN
cblr-1695	184	7	,	,	PUNCT
cblr-1695	184	8	supra	supra	PROPN
cblr-1695	184	9	note	note	PROPN
cblr-1695	184	10	21	21	NUM
cblr-1695	184	11	,	,	PUNCT
cblr-1695	184	12	§	§	PROPN
cblr-1695	184	13	1:2.2	1:2.2	NUM
cblr-1695	184	14	.	.	PUNCT
cblr-1695	184	15	46	46	NUM
cblr-1695	184	16	see	see	VERB
cblr-1695	184	17	e.g.	e.g.	ADV
cblr-1695	184	18	,	,	PUNCT
cblr-1695	184	19	tom	tom	PROPN
cblr-1695	184	20	hals	hal	NOUN
cblr-1695	184	21	,	,	PUNCT
cblr-1695	184	22	judge	judge	PROPN
cblr-1695	184	23	oks	oks	PROPN
cblr-1695	184	24	activision	activision	PROPN
cblr-1695	184	25	$	$	SYM
cblr-1695	184	26	275	275	NUM
cblr-1695	184	27	million	million	NUM
cblr-1695	184	28	shareholder	shareholder	NOUN
cblr-1695	184	29	settlement	settlement	NOUN
cblr-1695	184	30	,	,	PUNCT
cblr-1695	184	31	$	$	SYM
cblr-1695	184	32	72	72	NUM
cblr-1695	184	33	million	million	NUM
cblr-1695	184	34	for	for	ADP
cblr-1695	184	35	lawyers	lawyer	NOUN
cblr-1695	184	36	,	,	PUNCT
cblr-1695	184	37	reuters	reuter	NOUN
cblr-1695	184	38	(	(	PUNCT
cblr-1695	184	39	may	may	PROPN
cblr-1695	184	40	20	20	NUM
cblr-1695	184	41	,	,	PUNCT
cblr-1695	184	42	2015	2015	NUM
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cblr-1695	184	44	,	,	PUNCT
cblr-1695	184	45	https://www.reuters.com/article/us-activision-settlement/judge-oks	https://www.reuters.com/article/us-activision-settlement/judge-ok	VERB
cblr-1695	184	46	no	no	INTJ
cblr-1695	184	47	.	.	PUNCT
cblr-1695	185	1	1:305	1:305	NUM
cblr-1695	185	2	]	]	X
cblr-1695	185	3	going	go	VERB
cblr-1695	185	4	public	public	ADJ
cblr-1695	185	5	secretly	secretly	ADV
cblr-1695	185	6	317	317	NUM
cblr-1695	185	7	entire	entire	ADJ
cblr-1695	185	8	industry	industry	NOUN
cblr-1695	185	9	of	of	ADP
cblr-1695	185	10	plaintiffs	plaintiff	NOUN
cblr-1695	185	11	’	'	PUNCT
cblr-1695	185	12	lawyers	lawyer	NOUN
cblr-1695	185	13	lies	lie	VERB
cblr-1695	185	14	in	in	ADP
cblr-1695	185	15	wait	wait	NOUN
cblr-1695	185	16	for	for	ADP
cblr-1695	185	17	public	public	ADJ
cblr-1695	185	18	companies	company	NOUN
cblr-1695	185	19	announcing	announce	VERB
cblr-1695	185	20	disappointing	disappointing	ADJ
cblr-1695	185	21	results	result	NOUN
cblr-1695	185	22	or	or	CCONJ
cblr-1695	185	23	experiencing	experience	VERB
cblr-1695	185	24	declines	decline	NOUN
cblr-1695	185	25	in	in	ADP
cblr-1695	185	26	stock	stock	NOUN
cblr-1695	185	27	prices	price	NOUN
cblr-1695	185	28	.	.	PUNCT
cblr-1695	186	1	”47	”47	PROPN
cblr-1695	186	2	similarly	similarly	ADV
cblr-1695	186	3	,	,	PUNCT
cblr-1695	186	4	once	once	ADV
cblr-1695	186	5	public	public	ADJ
cblr-1695	186	6	,	,	PUNCT
cblr-1695	186	7	the	the	DET
cblr-1695	186	8	company	company	NOUN
cblr-1695	186	9	may	may	AUX
cblr-1695	186	10	also	also	ADV
cblr-1695	186	11	be	be	AUX
cblr-1695	186	12	plagued	plague	VERB
cblr-1695	186	13	by	by	ADP
cblr-1695	186	14	time	time	NOUN
cblr-1695	186	15	-	-	PUNCT
cblr-1695	186	16	consuming	consume	VERB
cblr-1695	186	17	and	and	CCONJ
cblr-1695	186	18	expensive	expensive	ADJ
cblr-1695	186	19	sec	sec	PROPN
cblr-1695	186	20	enforcement	enforcement	NOUN
cblr-1695	186	21	actions.48	actions.48	PROPN
cblr-1695	186	22	3	3	NUM
cblr-1695	186	23	.	.	PUNCT
cblr-1695	187	1	alternatives	alternative	NOUN
cblr-1695	187	2	to	to	ADP
cblr-1695	187	3	an	an	DET
cblr-1695	187	4	ipo	ipo	NOUN
cblr-1695	187	5	if	if	SCONJ
cblr-1695	187	6	a	a	DET
cblr-1695	187	7	company	company	NOUN
cblr-1695	187	8	opts	opt	VERB
cblr-1695	187	9	to	to	PART
cblr-1695	187	10	forego	forego	VERB
cblr-1695	187	11	an	an	DET
cblr-1695	187	12	ipo	ipo	NOUN
cblr-1695	187	13	,	,	PUNCT
cblr-1695	187	14	one	one	NUM
cblr-1695	187	15	alternative	alternative	NOUN
cblr-1695	187	16	is	be	AUX
cblr-1695	187	17	to	to	PART
cblr-1695	187	18	remain	remain	VERB
cblr-1695	187	19	private.49	private.49	PROPN
cblr-1695	187	20	“	"	PUNCT
cblr-1695	187	21	remaining	remain	VERB
cblr-1695	187	22	private	private	ADJ
cblr-1695	187	23	is	be	AUX
cblr-1695	187	24	a	a	DET
cblr-1695	187	25	perfectly	perfectly	ADV
cblr-1695	187	26	rational	rational	ADJ
cblr-1695	187	27	and	and	CCONJ
cblr-1695	187	28	often	often	ADV
cblr-1695	187	29	satisfactory	satisfactory	ADJ
cblr-1695	187	30	alternative	alternative	NOUN
cblr-1695	187	31	.	.	PUNCT
cblr-1695	187	32	.	.	PUNCT
cblr-1695	187	33	.	.	PUNCT
cblr-1695	188	1	[	[	X
cblr-1695	188	2	because	because	SCONJ
cblr-1695	188	3	]	]	X
cblr-1695	188	4	private	private	ADJ
cblr-1695	188	5	companies	company	NOUN
cblr-1695	188	6	can	can	AUX
cblr-1695	188	7	operate	operate	VERB
cblr-1695	188	8	with	with	ADP
cblr-1695	188	9	minimal	minimal	ADJ
cblr-1695	188	10	oversight	oversight	NOUN
cblr-1695	188	11	and	and	CCONJ
cblr-1695	188	12	maximum	maximum	ADJ
cblr-1695	188	13	flexibility	flexibility	NOUN
cblr-1695	188	14	.	.	PUNCT
cblr-1695	189	1	”50	”50	NOUN
cblr-1695	189	2	companies	company	NOUN
cblr-1695	189	3	choose	choose	VERB
cblr-1695	189	4	to	to	PART
cblr-1695	189	5	remain	remain	VERB
cblr-1695	189	6	private	private	ADJ
cblr-1695	189	7	in	in	ADP
cblr-1695	189	8	order	order	NOUN
cblr-1695	189	9	to	to	PART
cblr-1695	189	10	avoid	avoid	VERB
cblr-1695	189	11	many	many	ADJ
cblr-1695	189	12	of	of	ADP
cblr-1695	189	13	the	the	DET
cblr-1695	189	14	disadvantages	disadvantage	NOUN
cblr-1695	189	15	of	of	ADP
cblr-1695	189	16	going	go	VERB
cblr-1695	189	17	public,51	public,51	NOUN
cblr-1695	189	18	such	such	ADJ
cblr-1695	189	19	as	as	ADP
cblr-1695	189	20	disclosure	disclosure	NOUN
cblr-1695	189	21	requirements	requirement	NOUN
cblr-1695	189	22	,	,	PUNCT
cblr-1695	189	23	mandatory	mandatory	ADJ
cblr-1695	189	24	corporate	corporate	ADJ
cblr-1695	189	25	governance	governance	NOUN
cblr-1695	189	26	practices	practice	NOUN
cblr-1695	189	27	and	and	CCONJ
cblr-1695	189	28	regulatory	regulatory	ADJ
cblr-1695	189	29	obligations	obligation	NOUN
cblr-1695	189	30	,	,	PUNCT
cblr-1695	189	31	and	and	CCONJ
cblr-1695	189	32	the	the	DET
cblr-1695	189	33	loss	loss	NOUN
cblr-1695	189	34	of	of	ADP
cblr-1695	189	35	control	control	NOUN
cblr-1695	189	36	that	that	PRON
cblr-1695	189	37	accompanies	accompany	VERB
cblr-1695	189	38	an	an	DET
cblr-1695	189	39	ipo.52	ipo.52	ADJ
cblr-1695	189	40	private	private	ADJ
cblr-1695	189	41	companies	company	NOUN
cblr-1695	189	42	also	also	ADV
cblr-1695	189	43	may	may	AUX
cblr-1695	189	44	seek	seek	VERB
cblr-1695	189	45	an	an	DET
cblr-1695	189	46	acquisition	acquisition	NOUN
cblr-1695	189	47	as	as	ADP
cblr-1695	189	48	an	an	DET
cblr-1695	189	49	alternative	alternative	NOUN
cblr-1695	189	50	to	to	ADP
cblr-1695	189	51	an	an	DET
cblr-1695	189	52	ipo	ipo	NOUN
cblr-1695	189	53	.	.	PUNCT
cblr-1695	190	1	an	an	DET
cblr-1695	190	2	acquisition	acquisition	NOUN
cblr-1695	190	3	provides	provide	VERB
cblr-1695	190	4	investors	investor	NOUN
cblr-1695	190	5	with	with	ADP
cblr-1695	190	6	liquidity	liquidity	NOUN
cblr-1695	190	7	and	and	CCONJ
cblr-1695	190	8	the	the	DET
cblr-1695	190	9	post	post	ADJ
cblr-1695	190	10	-	-	ADJ
cblr-1695	190	11	acquisition	acquisition	ADJ
cblr-1695	190	12	firm	firm	NOUN
cblr-1695	190	13	with	with	ADP
cblr-1695	190	14	additional	additional	ADJ
cblr-1695	190	15	capital	capital	NOUN
cblr-1695	190	16	resources	resource	NOUN
cblr-1695	190	17	and	and	CCONJ
cblr-1695	190	18	economies	economy	NOUN
cblr-1695	190	19	of	of	ADP
cblr-1695	190	20	scale.53	scale.53	NOUN
cblr-1695	190	21	this	this	DET
cblr-1695	190	22	strategy	strategy	NOUN
cblr-1695	190	23	has	have	AUX
cblr-1695	190	24	proven	prove	VERB
cblr-1695	190	25	particularly	particularly	ADV
cblr-1695	190	26	lucrative	lucrative	ADJ
cblr-1695	190	27	for	for	ADP
cblr-1695	190	28	high	high	ADJ
cblr-1695	190	29	-	-	PUNCT
cblr-1695	190	30	profile	profile	NOUN
cblr-1695	190	31	companies	company	NOUN
cblr-1695	190	32	in	in	ADP
cblr-1695	190	33	recent	recent	ADJ
cblr-1695	190	34	years	year	NOUN
cblr-1695	190	35	,	,	PUNCT
cblr-1695	190	36	such	such	ADJ
cblr-1695	190	37	as	as	ADP
cblr-1695	190	38	instagram	instagram	PROPN
cblr-1695	190	39	and	and	CCONJ
cblr-1695	190	40	whatsapp	whatsapp	NOUN
cblr-1695	190	41	,	,	PUNCT
cblr-1695	190	42	both	both	PRON
cblr-1695	190	43	of	of	ADP
cblr-1695	190	44	which	which	PRON
cblr-1695	190	45	opted	opt	VERB
cblr-1695	190	46	to	to	PART
cblr-1695	190	47	be	be	AUX
cblr-1695	190	48	acquired	acquire	VERB
cblr-1695	190	49	by	by	ADP
cblr-1695	190	50	facebook	facebook	PROPN
cblr-1695	190	51	rather	rather	ADV
cblr-1695	190	52	than	than	ADP
cblr-1695	190	53	go	go	VERB
cblr-1695	190	54	public.54	public.54	PROPN
cblr-1695	190	55	activision-275	activision-275	PROPN
cblr-1695	190	56	-	-	PUNCT
cblr-1695	190	57	million	million	NUM
cblr-1695	190	58	-	-	PUNCT
cblr-1695	190	59	shareholder	shareholder	NOUN
cblr-1695	190	60	-	-	PUNCT
cblr-1695	190	61	settlement-72	settlement-72	NOUN
cblr-1695	190	62	-	-	PUNCT
cblr-1695	190	63	million	million	NUM
cblr-1695	190	64	-	-	PUNCT
cblr-1695	190	65	for	for	ADP
cblr-1695	190	66	-	-	PUNCT
cblr-1695	190	67	lawyersiduskbn0o52wi20150521	lawyersiduskbn0o52wi20150521	NOUN
cblr-1695	190	68	[	[	X
cblr-1695	190	69	https://perma.cc/6haf-5lnj	https://perma.cc/6haf-5lnj	X
cblr-1695	190	70	]	]	PUNCT
cblr-1695	190	71	.	.	PUNCT
cblr-1695	191	1	47	47	NUM
cblr-1695	191	2	westenberg	westenberg	PROPN
cblr-1695	191	3	,	,	PUNCT
cblr-1695	191	4	supra	supra	PROPN
cblr-1695	191	5	note	note	PROPN
cblr-1695	191	6	21	21	NUM
cblr-1695	191	7	,	,	PUNCT
cblr-1695	191	8	§	§	PROPN
cblr-1695	191	9	1:2.2	1:2.2	NUM
cblr-1695	191	10	.	.	PUNCT
cblr-1695	191	11	48	48	NUM
cblr-1695	191	12	see	see	VERB
cblr-1695	191	13	generally	generally	ADV
cblr-1695	191	14	david	david	PROPN
cblr-1695	191	15	marcus	marcus	PROPN
cblr-1695	191	16	&	&	CCONJ
cblr-1695	191	17	stephen	stephen	PROPN
cblr-1695	191	18	choi	choi	PROPN
cblr-1695	191	19	,	,	PUNCT
cblr-1695	191	20	sec	sec	PROPN
cblr-1695	191	21	enforcement	enforcement	NOUN
cblr-1695	191	22	actions	action	NOUN
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cblr-1695	191	25	companies	company	NOUN
cblr-1695	191	26	and	and	CCONJ
cblr-1695	191	27	subsidiaries	subsidiary	NOUN
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cblr-1695	192	1	l.	l.	PROPN
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cblr-1695	193	3	corp	corp	PROPN
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cblr-1695	193	5	governance	governance	PROPN
cblr-1695	193	6	&	&	CCONJ
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cblr-1695	193	8	.	.	PUNCT
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cblr-1695	194	2	.	.	PUNCT
cblr-1695	195	1	(	(	PUNCT
cblr-1695	195	2	may	may	AUX
cblr-1695	195	3	24	24	NUM
cblr-1695	195	4	,	,	PUNCT
cblr-1695	195	5	2017	2017	NUM
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cblr-1695	195	7	,	,	PUNCT
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cblr-1695	196	1	[	[	X
cblr-1695	196	2	https://perma.cc/tn	https://perma.cc/tn	NOUN
cblr-1695	196	3	v9	v9	PROPN
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cblr-1695	196	5	2flm	2flm	NOUN
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cblr-1695	197	1	49	49	NUM
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cblr-1695	197	6	note	note	PROPN
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cblr-1695	198	1	50	50	NUM
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cblr-1695	202	13	completes	complete	VERB
cblr-1695	202	14	acquisition	acquisition	NOUN
cblr-1695	202	15	of	of	ADP
cblr-1695	202	16	whatsapp	whatsapp	NOUN
cblr-1695	202	17	,	,	PUNCT
cblr-1695	202	18	wall	wall	PROPN
cblr-1695	202	19	st	st	PROPN
cblr-1695	202	20	.	.	PROPN
cblr-1695	202	21	j.	j.	PROPN
cblr-1695	202	22	(	(	PUNCT
cblr-1695	202	23	oct	oct	PROPN
cblr-1695	202	24	.	.	PROPN
cblr-1695	202	25	6	6	NUM
cblr-1695	202	26	,	,	PUNCT
cblr-1695	202	27	2014	2014	NUM
cblr-1695	202	28	)	)	PUNCT
cblr-1695	202	29	,	,	PUNCT
cblr-1695	202	30	https://www.wsj.com/articles/facebook-completesacquisition-of-whatsapp-1412603898	https://www.wsj.com/articles/facebook-completesacquisition-of-whatsapp-1412603898	PROPN
cblr-1695	202	31	(	(	PUNCT
cblr-1695	202	32	on	on	ADP
cblr-1695	202	33	file	file	NOUN
cblr-1695	202	34	with	with	ADP
cblr-1695	202	35	the	the	DET
cblr-1695	202	36	columbia	columbia	PROPN
cblr-1695	202	37	business	business	PROPN
cblr-1695	202	38	318	318	NUM
cblr-1695	202	39	columbia	columbia	PROPN
cblr-1695	202	40	business	business	NOUN
cblr-1695	202	41	law	law	PROPN
cblr-1695	202	42	review	review	NOUN
cblr-1695	202	43	[	[	X
cblr-1695	202	44	vol	vol	NOUN
cblr-1695	202	45	.	.	NOUN
cblr-1695	202	46	2019	2019	NUM
cblr-1695	202	47	c.	c.	NOUN
cblr-1695	202	48	beginning	begin	VERB
cblr-1695	202	49	an	an	DET
cblr-1695	202	50	ipo	ipo	NOUN
cblr-1695	202	51	:	:	PUNCT
cblr-1695	202	52	the	the	DET
cblr-1695	202	53	registration	registration	NOUN
cblr-1695	202	54	statement	statement	NOUN
cblr-1695	202	55	for	for	ADP
cblr-1695	202	56	companies	company	NOUN
cblr-1695	202	57	that	that	PRON
cblr-1695	202	58	decide	decide	VERB
cblr-1695	202	59	to	to	PART
cblr-1695	202	60	pursue	pursue	VERB
cblr-1695	202	61	an	an	DET
cblr-1695	202	62	ipo	ipo	NOUN
cblr-1695	202	63	,	,	PUNCT
cblr-1695	202	64	the	the	DET
cblr-1695	202	65	starting	starting	NOUN
cblr-1695	202	66	point	point	NOUN
cblr-1695	202	67	of	of	ADP
cblr-1695	202	68	the	the	DET
cblr-1695	202	69	process	process	NOUN
cblr-1695	202	70	is	be	AUX
cblr-1695	202	71	the	the	DET
cblr-1695	202	72	1933	1933	NUM
cblr-1695	202	73	act.55	act.55	NOUN
cblr-1695	202	74	under	under	ADP
cblr-1695	202	75	section	section	NOUN
cblr-1695	202	76	5	5	NUM
cblr-1695	202	77	,	,	PUNCT
cblr-1695	202	78	a	a	DET
cblr-1695	202	79	company	company	NOUN
cblr-1695	202	80	making	make	VERB
cblr-1695	202	81	a	a	DET
cblr-1695	202	82	public	public	ADJ
cblr-1695	202	83	offering	offering	NOUN
cblr-1695	202	84	of	of	ADP
cblr-1695	202	85	securities	security	NOUN
cblr-1695	202	86	must	must	AUX
cblr-1695	202	87	file	file	VERB
cblr-1695	202	88	a	a	DET
cblr-1695	202	89	registration	registration	NOUN
cblr-1695	202	90	statement	statement	NOUN
cblr-1695	202	91	with	with	ADP
cblr-1695	202	92	the	the	DET
cblr-1695	202	93	sec.56	sec.56	NOUN
cblr-1695	202	94	the	the	DET
cblr-1695	202	95	purpose	purpose	NOUN
cblr-1695	202	96	of	of	ADP
cblr-1695	202	97	the	the	DET
cblr-1695	202	98	1933	1933	NUM
cblr-1695	202	99	act	act	PROPN
cblr-1695	202	100	’s	’s	PART
cblr-1695	202	101	registration	registration	NOUN
cblr-1695	202	102	requirement	requirement	NOUN
cblr-1695	202	103	is	be	AUX
cblr-1695	202	104	“	"	PUNCT
cblr-1695	202	105	to	to	PART
cblr-1695	202	106	assure	assure	VERB
cblr-1695	202	107	that	that	SCONJ
cblr-1695	202	108	the	the	DET
cblr-1695	202	109	investor	investor	NOUN
cblr-1695	202	110	has	have	VERB
cblr-1695	202	111	adequate	adequate	ADJ
cblr-1695	202	112	information	information	NOUN
cblr-1695	202	113	upon	upon	SCONJ
cblr-1695	202	114	which	which	PRON
cblr-1695	202	115	to	to	PART
cblr-1695	202	116	base	base	VERB
cblr-1695	202	117	his	his	PRON
cblr-1695	202	118	or	or	CCONJ
cblr-1695	202	119	her	her	PRON
cblr-1695	202	120	investment	investment	NOUN
cblr-1695	202	121	decision	decision	NOUN
cblr-1695	202	122	.	.	PUNCT
cblr-1695	203	1	”57	”57	PROPN
cblr-1695	204	1	although	although	SCONJ
cblr-1695	204	2	there	there	PRON
cblr-1695	204	3	are	be	VERB
cblr-1695	204	4	other	other	ADJ
cblr-1695	204	5	forms	form	NOUN
cblr-1695	204	6	for	for	ADP
cblr-1695	204	7	specific	specific	ADJ
cblr-1695	204	8	types	type	NOUN
cblr-1695	204	9	of	of	ADP
cblr-1695	204	10	companies	company	NOUN
cblr-1695	204	11	or	or	CCONJ
cblr-1695	204	12	unique	unique	ADJ
cblr-1695	204	13	situations	situation	NOUN
cblr-1695	204	14	,	,	PUNCT
cblr-1695	204	15	the	the	DET
cblr-1695	204	16	1933	1933	NUM
cblr-1695	204	17	act	act	NOUN
cblr-1695	204	18	form	form	NOUN
cblr-1695	204	19	s-1	s-1	NOUN
cblr-1695	204	20	remains	remain	VERB
cblr-1695	204	21	the	the	DET
cblr-1695	204	22	“	"	PUNCT
cblr-1695	204	23	basic	basic	ADJ
cblr-1695	204	24	,	,	PUNCT
cblr-1695	204	25	long	long	ADJ
cblr-1695	204	26	-	-	PUNCT
cblr-1695	204	27	form	form	NOUN
cblr-1695	204	28	registration	registration	NOUN
cblr-1695	204	29	statement	statement	NOUN
cblr-1695	204	30	,	,	PUNCT
cblr-1695	204	31	”	"	PUNCT
cblr-1695	204	32	which	which	PRON
cblr-1695	204	33	issuers	issuer	NOUN
cblr-1695	204	34	use	use	VERB
cblr-1695	204	35	unless	unless	SCONJ
cblr-1695	204	36	they	they	PRON
cblr-1695	204	37	qualify	qualify	VERB
cblr-1695	204	38	for	for	ADP
cblr-1695	204	39	another	another	DET
cblr-1695	204	40	form.58	form.58	VERB
cblr-1695	204	41	the	the	DET
cblr-1695	204	42	form	form	NOUN
cblr-1695	204	43	s-159	s-159	PROPN
cblr-1695	204	44	consists	consist	VERB
cblr-1695	204	45	of	of	ADP
cblr-1695	204	46	two	two	NUM
cblr-1695	204	47	main	main	ADJ
cblr-1695	204	48	parts	part	NOUN
cblr-1695	204	49	:	:	PUNCT
cblr-1695	204	50	the	the	DET
cblr-1695	204	51	prospectus	prospectus	NOUN
cblr-1695	204	52	and	and	CCONJ
cblr-1695	204	53	additional	additional	ADJ
cblr-1695	204	54	information	information	NOUN
cblr-1695	204	55	not	not	PART
cblr-1695	204	56	set	set	VERB
cblr-1695	204	57	out	out	ADP
cblr-1695	204	58	in	in	ADP
cblr-1695	204	59	the	the	DET
cblr-1695	204	60	prospectus.60	prospectus.60	NOUN
cblr-1695	204	61	the	the	DET
cblr-1695	204	62	prospectus	prospectus	NOUN
cblr-1695	204	63	must	must	AUX
cblr-1695	204	64	contain	contain	VERB
cblr-1695	204	65	all	all	DET
cblr-1695	204	66	information	information	NOUN
cblr-1695	204	67	required	require	VERB
cblr-1695	204	68	by	by	ADP
cblr-1695	204	69	applicable	applicable	ADJ
cblr-1695	204	70	sec	sec	PROPN
cblr-1695	204	71	regulations	regulation	NOUN
cblr-1695	204	72	,	,	PUNCT
cblr-1695	204	73	the	the	DET
cblr-1695	204	74	most	most	ADV
cblr-1695	204	75	important	important	ADJ
cblr-1695	204	76	of	of	ADP
cblr-1695	204	77	which	which	PRON
cblr-1695	204	78	are	be	AUX
cblr-1695	204	79	regulation	regulation	NOUN
cblr-1695	204	80	s	s	NOUN
cblr-1695	204	81	-	-	PUNCT
cblr-1695	204	82	k	k	NOUN
cblr-1695	204	83	,	,	PUNCT
cblr-1695	204	84	which	which	PRON
cblr-1695	204	85	details	detail	VERB
cblr-1695	204	86	comprehensive	comprehensive	ADJ
cblr-1695	204	87	disclosure	disclosure	NOUN
cblr-1695	204	88	requirements	requirement	NOUN
cblr-1695	204	89	,	,	PUNCT
cblr-1695	204	90	and	and	CCONJ
cblr-1695	204	91	regulation	regulation	NOUN
cblr-1695	204	92	s	s	NOUN
cblr-1695	204	93	-	-	PUNCT
cblr-1695	204	94	x	x	NOUN
cblr-1695	204	95	,	,	PUNCT
cblr-1695	204	96	which	which	PRON
cblr-1695	204	97	lists	list	VERB
cblr-1695	204	98	financial	financial	ADJ
cblr-1695	204	99	statement	statement	NOUN
cblr-1695	204	100	requirements.61	requirements.61	NOUN
cblr-1695	204	101	material	material	NOUN
cblr-1695	204	102	information	information	NOUN
cblr-1695	204	103	that	that	PRON
cblr-1695	204	104	must	must	AUX
cblr-1695	204	105	be	be	AUX
cblr-1695	204	106	disclosed	disclose	VERB
cblr-1695	204	107	in	in	ADP
cblr-1695	204	108	the	the	DET
cblr-1695	204	109	prospectus	prospectus	NOUN
cblr-1695	204	110	includes	include	VERB
cblr-1695	204	111	:	:	PUNCT
cblr-1695	204	112	(	(	PUNCT
cblr-1695	204	113	1	1	X
cblr-1695	204	114	)	)	PUNCT
cblr-1695	204	115	risk	risk	NOUN
cblr-1695	204	116	factors	factor	NOUN
cblr-1695	204	117	that	that	PRON
cblr-1695	204	118	make	make	VERB
cblr-1695	204	119	an	an	DET
cblr-1695	204	120	investment	investment	NOUN
cblr-1695	204	121	in	in	ADP
cblr-1695	204	122	the	the	DET
cblr-1695	204	123	company	company	NOUN
cblr-1695	204	124	speculative	speculative	ADJ
cblr-1695	204	125	;	;	PUNCT
cblr-1695	204	126	(	(	PUNCT
cblr-1695	204	127	2	2	X
cblr-1695	204	128	)	)	PUNCT
cblr-1695	204	129	a	a	DET
cblr-1695	204	130	description	description	NOUN
cblr-1695	204	131	of	of	ADP
cblr-1695	204	132	the	the	DET
cblr-1695	204	133	principal	principal	ADJ
cblr-1695	204	134	law	law	NOUN
cblr-1695	204	135	review	review	NOUN
cblr-1695	204	136	)	)	PUNCT
cblr-1695	204	137	(	(	PUNCT
cblr-1695	204	138	discussing	discuss	VERB
cblr-1695	204	139	facebook	facebook	NOUN
cblr-1695	204	140	’s	’s	PART
cblr-1695	204	141	purchase	purchase	NOUN
cblr-1695	204	142	of	of	ADP
cblr-1695	204	143	whatsapp	whatsapp	NOUN
cblr-1695	204	144	for	for	ADP
cblr-1695	204	145	$	$	SYM
cblr-1695	204	146	19	19	NUM
cblr-1695	204	147	billion	billion	NUM
cblr-1695	204	148	)	)	PUNCT
cblr-1695	204	149	;	;	PUNCT
cblr-1695	204	150	evelyn	evelyn	PROPN
cblr-1695	204	151	m.	m.	PROPN
cblr-1695	204	152	rusli	rusli	PROPN
cblr-1695	204	153	,	,	PUNCT
cblr-1695	204	154	facebook	facebook	PROPN
cblr-1695	204	155	buys	buy	VERB
cblr-1695	204	156	instagram	instagram	PROPN
cblr-1695	204	157	for	for	ADP
cblr-1695	204	158	$	$	SYM
cblr-1695	204	159	1	1	NUM
cblr-1695	204	160	billion	billion	NUM
cblr-1695	204	161	,	,	PUNCT
cblr-1695	204	162	n.y	n.y	PROPN
cblr-1695	204	163	.	.	PROPN
cblr-1695	204	164	times	times	PROPN
cblr-1695	204	165	(	(	PUNCT
cblr-1695	204	166	apr	apr	PROPN
cblr-1695	204	167	.	.	PROPN
cblr-1695	204	168	9	9	NUM
cblr-1695	204	169	,	,	PUNCT
cblr-1695	204	170	2012	2012	NUM
cblr-1695	204	171	)	)	PUNCT
cblr-1695	204	172	,	,	PUNCT
cblr-1695	204	173	https://dealbook.nytimes.com/2012/04/09/facebook-buysinstagram-for-1-billion/	https://dealbook.nytimes.com/2012/04/09/facebook-buysinstagram-for-1-billion/	PROPN
cblr-1695	205	1	[	[	X
cblr-1695	205	2	https://perma.cc/9d23-l6kr	https://perma.cc/9d23-l6kr	PROPN
cblr-1695	205	3	]	]	PUNCT
cblr-1695	205	4	.	.	PUNCT
cblr-1695	206	1	55	55	NUM
cblr-1695	206	2	see	see	VERB
cblr-1695	206	3	gutterman	gutterman	NOUN
cblr-1695	206	4	,	,	PUNCT
cblr-1695	206	5	supra	supra	PROPN
cblr-1695	206	6	note	note	PROPN
cblr-1695	206	7	19	19	NUM
cblr-1695	206	8	,	,	PUNCT
cblr-1695	206	9	at	at	ADP
cblr-1695	206	10	201	201	NUM
cblr-1695	206	11	.	.	PUNCT
cblr-1695	207	1	56	56	NUM
cblr-1695	207	2	securities	security	NOUN
cblr-1695	207	3	act	act	NOUN
cblr-1695	207	4	of	of	ADP
cblr-1695	207	5	1933	1933	NUM
cblr-1695	207	6	§	§	PROPN
cblr-1695	207	7	5	5	NUM
cblr-1695	207	8	,	,	PUNCT
cblr-1695	207	9	15	15	NUM
cblr-1695	207	10	u.s.c	u.s.c	ADJ
cblr-1695	207	11	.	.	PUNCT
cblr-1695	208	1	§	§	PROPN
cblr-1695	208	2	77e	77e	PROPN
cblr-1695	208	3	(	(	PUNCT
cblr-1695	208	4	2012	2012	NUM
cblr-1695	208	5	)	)	PUNCT
cblr-1695	208	6	;	;	PUNCT
cblr-1695	208	7	see	see	VERB
cblr-1695	208	8	also	also	ADV
cblr-1695	208	9	steinberg	steinberg	PROPN
cblr-1695	208	10	,	,	PUNCT
cblr-1695	208	11	supra	supra	PROPN
cblr-1695	208	12	note	note	PROPN
cblr-1695	208	13	40	40	NUM
cblr-1695	208	14	,	,	PUNCT
cblr-1695	208	15	at	at	ADP
cblr-1695	208	16	125	125	NUM
cblr-1695	208	17	.	.	PUNCT
cblr-1695	209	1	57	57	NUM
cblr-1695	209	2	thomas	thomas	PROPN
cblr-1695	209	3	lee	lee	PROPN
cblr-1695	209	4	hazen	hazen	PROPN
cblr-1695	209	5	,	,	PUNCT
cblr-1695	209	6	principles	principle	NOUN
cblr-1695	209	7	of	of	ADP
cblr-1695	209	8	securities	security	NOUN
cblr-1695	209	9	regulation	regulation	NOUN
cblr-1695	209	10	52	52	NUM
cblr-1695	209	11	(	(	PUNCT
cblr-1695	209	12	4th	4th	ADJ
cblr-1695	209	13	ed	ed	NOUN
cblr-1695	209	14	.	.	PROPN
cblr-1695	209	15	2017	2017	NUM
cblr-1695	209	16	)	)	PUNCT
cblr-1695	209	17	.	.	PUNCT
cblr-1695	210	1	58	58	NUM
cblr-1695	211	1	i	i	PRON
cblr-1695	211	2	d.	d.	PROPN
cblr-1695	211	3	at	at	ADP
cblr-1695	211	4	82	82	NUM
cblr-1695	211	5	.	.	PUNCT
cblr-1695	212	1	the	the	DET
cblr-1695	212	2	specific	specific	ADJ
cblr-1695	212	3	requirements	requirement	NOUN
cblr-1695	212	4	that	that	PRON
cblr-1695	212	5	must	must	AUX
cblr-1695	212	6	be	be	AUX
cblr-1695	212	7	met	meet	VERB
cblr-1695	212	8	in	in	ADP
cblr-1695	212	9	order	order	NOUN
cblr-1695	212	10	to	to	PART
cblr-1695	212	11	file	file	VERB
cblr-1695	212	12	forms	form	NOUN
cblr-1695	212	13	besides	besides	SCONJ
cblr-1695	212	14	the	the	DET
cblr-1695	212	15	form	form	NOUN
cblr-1695	212	16	s-1	s-1	NOUN
cblr-1695	212	17	are	be	AUX
cblr-1695	212	18	beyond	beyond	ADP
cblr-1695	212	19	the	the	DET
cblr-1695	212	20	scope	scope	NOUN
cblr-1695	212	21	of	of	ADP
cblr-1695	212	22	this	this	DET
cblr-1695	212	23	note	note	NOUN
cblr-1695	212	24	.	.	PUNCT
cblr-1695	213	1	59	59	NUM
cblr-1695	213	2	for	for	ADP
cblr-1695	213	3	a	a	DET
cblr-1695	213	4	copy	copy	NOUN
cblr-1695	213	5	of	of	ADP
cblr-1695	213	6	a	a	DET
cblr-1695	213	7	blank	blank	ADJ
cblr-1695	213	8	form	form	NOUN
cblr-1695	213	9	s-1	s-1	NOUN
cblr-1695	213	10	,	,	PUNCT
cblr-1695	213	11	see	see	VERB
cblr-1695	213	12	sec	sec	PROPN
cblr-1695	213	13	,	,	PUNCT
cblr-1695	213	14	form	form	NOUN
cblr-1695	213	15	s-1	s-1	NOUN
cblr-1695	213	16	,	,	PUNCT
cblr-1695	213	17	https://www.sec.gov/files/forms-1.pdf	https://www.sec.gov/files/forms-1.pdf	NOUN
cblr-1695	214	1	[	[	X
cblr-1695	214	2	https://perma.cc/ddr3-nhte	https://perma.cc/ddr3-nhte	PROPN
cblr-1695	214	3	]	]	PUNCT
cblr-1695	214	4	.	.	PUNCT
cblr-1695	215	1	60	60	NUM
cblr-1695	215	2	see	see	VERB
cblr-1695	215	3	westenberg	westenberg	PROPN
cblr-1695	215	4	,	,	PUNCT
cblr-1695	215	5	supra	supra	PROPN
cblr-1695	215	6	note	note	PROPN
cblr-1695	215	7	21	21	NUM
cblr-1695	215	8	,	,	PUNCT
cblr-1695	215	9	§	§	NOUN
cblr-1695	215	10	13:2	13:2	NUM
cblr-1695	215	11	,	,	PUNCT
cblr-1695	215	12	at	at	ADP
cblr-1695	215	13	13–3	13–3	PROPN
cblr-1695	215	14	.	.	PUNCT
cblr-1695	216	1	61	61	NUM
cblr-1695	216	2	hazen	hazen	PROPN
cblr-1695	216	3	,	,	PUNCT
cblr-1695	216	4	supra	supra	PROPN
cblr-1695	216	5	note	note	PROPN
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cblr-1695	216	7	,	,	PUNCT
cblr-1695	216	8	at	at	ADP
cblr-1695	216	9	81	81	NUM
cblr-1695	216	10	;	;	PUNCT
cblr-1695	216	11	westenberg	westenberg	PROPN
cblr-1695	216	12	,	,	PUNCT
cblr-1695	216	13	supra	supra	PROPN
cblr-1695	216	14	note	note	PROPN
cblr-1695	216	15	21	21	NUM
cblr-1695	216	16	,	,	PUNCT
cblr-1695	216	17	§	§	PROPN
cblr-1695	216	18	13:2.1	13:2.1	NUM
cblr-1695	216	19	,	,	PUNCT
cblr-1695	216	20	at	at	ADP
cblr-1695	216	21	13–3	13–3	PROPN
cblr-1695	216	22	;	;	PUNCT
cblr-1695	216	23	see	see	VERB
cblr-1695	216	24	also	also	ADV
cblr-1695	216	25	15	15	NUM
cblr-1695	216	26	u.s.c	u.s.c	ADJ
cblr-1695	216	27	.	.	PUNCT
cblr-1695	217	1	§	§	PROPN
cblr-1695	217	2	77j(a	77j(a	NUM
cblr-1695	217	3	)	)	PUNCT
cblr-1695	217	4	.	.	PUNCT
cblr-1695	218	1	see	see	VERB
cblr-1695	218	2	generally	generally	ADV
cblr-1695	218	3	sec	sec	PROPN
cblr-1695	218	4	,	,	PUNCT
cblr-1695	218	5	supra	supra	PROPN
cblr-1695	218	6	note	note	PROPN
cblr-1695	218	7	59	59	NUM
cblr-1695	218	8	(	(	PUNCT
cblr-1695	218	9	directing	direct	VERB
cblr-1695	218	10	issuers	issuer	NOUN
cblr-1695	218	11	to	to	ADP
cblr-1695	218	12	regulation	regulation	NOUN
cblr-1695	218	13	s	s	PROPN
cblr-1695	218	14	-	-	PUNCT
cblr-1695	218	15	k	k	NOUN
cblr-1695	218	16	and	and	CCONJ
cblr-1695	218	17	regulation	regulation	NOUN
cblr-1695	218	18	s	s	NOUN
cblr-1695	218	19	-	-	PUNCT
cblr-1695	218	20	x	x	NOUN
cblr-1695	218	21	for	for	ADP
cblr-1695	218	22	more	more	ADJ
cblr-1695	218	23	information	information	NOUN
cblr-1695	218	24	on	on	ADP
cblr-1695	218	25	specific	specific	ADJ
cblr-1695	218	26	form	form	NOUN
cblr-1695	218	27	s-1	s-1	NOUN
cblr-1695	218	28	requirements	requirement	NOUN
cblr-1695	218	29	)	)	PUNCT
cblr-1695	218	30	.	.	PUNCT
cblr-1695	219	1	no	no	INTJ
cblr-1695	219	2	.	.	PUNCT
cblr-1695	220	1	1:305	1:305	NUM
cblr-1695	220	2	]	]	X
cblr-1695	220	3	going	go	VERB
cblr-1695	220	4	public	public	ADJ
cblr-1695	220	5	secretly	secretly	ADV
cblr-1695	220	6	319	319	NUM
cblr-1695	220	7	purposes	purpose	NOUN
cblr-1695	220	8	the	the	DET
cblr-1695	220	9	issuer	issuer	NOUN
cblr-1695	220	10	intends	intend	VERB
cblr-1695	220	11	to	to	PART
cblr-1695	220	12	use	use	VERB
cblr-1695	220	13	the	the	DET
cblr-1695	220	14	net	net	ADJ
cblr-1695	220	15	proceeds	proceed	NOUN
cblr-1695	220	16	from	from	ADP
cblr-1695	220	17	the	the	DET
cblr-1695	220	18	offering	offering	NOUN
cblr-1695	220	19	for	for	ADP
cblr-1695	220	20	;	;	PUNCT
cblr-1695	220	21	(	(	PUNCT
cblr-1695	220	22	3	3	X
cblr-1695	220	23	)	)	PUNCT
cblr-1695	220	24	financial	financial	ADJ
cblr-1695	220	25	data	datum	NOUN
cblr-1695	220	26	,	,	PUNCT
cblr-1695	220	27	including	include	VERB
cblr-1695	220	28	income	income	NOUN
cblr-1695	220	29	statements	statement	NOUN
cblr-1695	220	30	and	and	CCONJ
cblr-1695	220	31	balance	balance	NOUN
cblr-1695	220	32	sheets	sheet	NOUN
cblr-1695	220	33	from	from	ADP
cblr-1695	220	34	prior	prior	ADJ
cblr-1695	220	35	fiscal	fiscal	ADJ
cblr-1695	220	36	years	year	NOUN
cblr-1695	220	37	;	;	PUNCT
cblr-1695	220	38	(	(	PUNCT
cblr-1695	220	39	4	4	X
cblr-1695	220	40	)	)	PUNCT
cblr-1695	220	41	management	management	NOUN
cblr-1695	220	42	’s	’s	PART
cblr-1695	220	43	discussion	discussion	NOUN
cblr-1695	220	44	and	and	CCONJ
cblr-1695	220	45	analysis	analysis	NOUN
cblr-1695	220	46	,	,	PUNCT
cblr-1695	220	47	known	know	VERB
cblr-1695	220	48	as	as	ADP
cblr-1695	220	49	the	the	DET
cblr-1695	220	50	“	"	PUNCT
cblr-1695	220	51	md&a	md&a	PROPN
cblr-1695	220	52	,	,	PUNCT
cblr-1695	220	53	”	"	PUNCT
cblr-1695	220	54	which	which	PRON
cblr-1695	220	55	includes	include	VERB
cblr-1695	220	56	the	the	DET
cblr-1695	220	57	company	company	NOUN
cblr-1695	220	58	’s	’s	PART
cblr-1695	220	59	financial	financial	ADJ
cblr-1695	220	60	condition	condition	NOUN
cblr-1695	220	61	,	,	PUNCT
cblr-1695	220	62	liquidity	liquidity	NOUN
cblr-1695	220	63	,	,	PUNCT
cblr-1695	220	64	capital	capital	NOUN
cblr-1695	220	65	resources	resource	NOUN
cblr-1695	220	66	,	,	PUNCT
cblr-1695	220	67	and	and	CCONJ
cblr-1695	220	68	off	off	ADP
cblr-1695	220	69	-	-	PUNCT
cblr-1695	220	70	balance	balance	NOUN
cblr-1695	220	71	-	-	PUNCT
cblr-1695	220	72	sheet	sheet	NOUN
cblr-1695	220	73	arrangements	arrangement	NOUN
cblr-1695	220	74	;	;	PUNCT
cblr-1695	220	75	(	(	PUNCT
cblr-1695	220	76	5	5	X
cblr-1695	220	77	)	)	PUNCT
cblr-1695	220	78	a	a	DET
cblr-1695	220	79	business	business	NOUN
cblr-1695	220	80	section	section	NOUN
cblr-1695	220	81	,	,	PUNCT
cblr-1695	220	82	which	which	PRON
cblr-1695	220	83	details	detail	VERB
cblr-1695	220	84	company	company	NOUN
cblr-1695	220	85	strategy	strategy	NOUN
cblr-1695	220	86	,	,	PUNCT
cblr-1695	220	87	intellectual	intellectual	ADJ
cblr-1695	220	88	property	property	NOUN
cblr-1695	220	89	,	,	PUNCT
cblr-1695	220	90	applicable	applicable	ADJ
cblr-1695	220	91	government	government	NOUN
cblr-1695	220	92	regulations	regulation	NOUN
cblr-1695	220	93	,	,	PUNCT
cblr-1695	220	94	and	and	CCONJ
cblr-1695	220	95	ongoing	ongoing	ADJ
cblr-1695	220	96	legal	legal	ADJ
cblr-1695	220	97	proceedings	proceeding	NOUN
cblr-1695	220	98	;	;	PUNCT
cblr-1695	220	99	and	and	CCONJ
cblr-1695	220	100	(	(	PUNCT
cblr-1695	220	101	6	6	X
cblr-1695	220	102	)	)	PUNCT
cblr-1695	220	103	executive	executive	ADJ
cblr-1695	220	104	compensation.62	compensation.62	NOUN
cblr-1695	220	105	this	this	DET
cblr-1695	220	106	sampling	sampling	NOUN
cblr-1695	220	107	of	of	ADP
cblr-1695	220	108	information	information	NOUN
cblr-1695	220	109	provides	provide	VERB
cblr-1695	220	110	insight	insight	NOUN
cblr-1695	220	111	into	into	ADP
cblr-1695	220	112	the	the	DET
cblr-1695	220	113	level	level	NOUN
cblr-1695	220	114	of	of	ADP
cblr-1695	220	115	disclosure	disclosure	NOUN
cblr-1695	220	116	detail	detail	NOUN
cblr-1695	220	117	that	that	PRON
cblr-1695	220	118	an	an	DET
cblr-1695	220	119	issuer	issuer	NOUN
cblr-1695	220	120	must	must	AUX
cblr-1695	220	121	include	include	VERB
cblr-1695	220	122	in	in	ADP
cblr-1695	220	123	the	the	DET
cblr-1695	220	124	form	form	NOUN
cblr-1695	220	125	s-1	s-1	NOUN
cblr-1695	220	126	prospectus	prospectus	NOUN
cblr-1695	220	127	section	section	NOUN
cblr-1695	220	128	.	.	PUNCT
cblr-1695	221	1	over	over	ADP
cblr-1695	221	2	the	the	DET
cblr-1695	221	3	last	last	ADJ
cblr-1695	221	4	few	few	ADJ
cblr-1695	221	5	decades	decade	NOUN
cblr-1695	221	6	,	,	PUNCT
cblr-1695	221	7	the	the	DET
cblr-1695	221	8	length	length	NOUN
cblr-1695	221	9	of	of	ADP
cblr-1695	221	10	prospectuses	prospectus	NOUN
cblr-1695	221	11	has	have	AUX
cblr-1695	221	12	increased	increase	VERB
cblr-1695	221	13	considerably	considerably	ADV
cblr-1695	221	14	due	due	ADJ
cblr-1695	221	15	to	to	ADP
cblr-1695	221	16	expanded	expand	VERB
cblr-1695	221	17	disclosure	disclosure	NOUN
cblr-1695	221	18	requirements	requirement	NOUN
cblr-1695	221	19	,	,	PUNCT
cblr-1695	221	20	increased	increase	VERB
cblr-1695	221	21	investor	investor	NOUN
cblr-1695	221	22	expectations	expectation	NOUN
cblr-1695	221	23	,	,	PUNCT
cblr-1695	221	24	and	and	CCONJ
cblr-1695	221	25	sensitivity	sensitivity	NOUN
cblr-1695	221	26	towards	towards	ADP
cblr-1695	221	27	potential	potential	ADJ
cblr-1695	221	28	liability.63	liability.63	PROPN
cblr-1695	221	29	part	part	NOUN
cblr-1695	221	30	two	two	NUM
cblr-1695	221	31	of	of	ADP
cblr-1695	221	32	the	the	DET
cblr-1695	221	33	form	form	NOUN
cblr-1695	221	34	s-1	s-1	NOUN
cblr-1695	221	35	includes	include	VERB
cblr-1695	221	36	additional	additional	ADJ
cblr-1695	221	37	information	information	NOUN
cblr-1695	221	38	that	that	PRON
cblr-1695	221	39	is	be	AUX
cblr-1695	221	40	not	not	PART
cblr-1695	221	41	included	include	VERB
cblr-1695	221	42	in	in	ADP
cblr-1695	221	43	the	the	DET
cblr-1695	221	44	prospectus	prospectus	NOUN
cblr-1695	221	45	,	,	PUNCT
cblr-1695	221	46	such	such	ADJ
cblr-1695	221	47	as	as	ADP
cblr-1695	221	48	the	the	DET
cblr-1695	221	49	company	company	NOUN
cblr-1695	221	50	’s	’s	PART
cblr-1695	221	51	offering	offering	NOUN
cblr-1695	221	52	expenses	expense	NOUN
cblr-1695	221	53	,	,	PUNCT
cblr-1695	221	54	sales	sale	NOUN
cblr-1695	221	55	of	of	ADP
cblr-1695	221	56	unregistered	unregistered	ADJ
cblr-1695	221	57	securities	security	NOUN
cblr-1695	221	58	over	over	ADP
cblr-1695	221	59	the	the	DET
cblr-1695	221	60	past	past	ADJ
cblr-1695	221	61	three	three	NUM
cblr-1695	221	62	years	year	NOUN
cblr-1695	221	63	,	,	PUNCT
cblr-1695	221	64	exhibits	exhibit	NOUN
cblr-1695	221	65	required	require	VERB
cblr-1695	221	66	by	by	ADP
cblr-1695	221	67	regulation	regulation	NOUN
cblr-1695	221	68	s	s	NOUN
cblr-1695	221	69	-	-	X
cblr-1695	221	70	k	k	NOUN
cblr-1695	221	71	,	,	PUNCT
cblr-1695	221	72	and	and	CCONJ
cblr-1695	221	73	financial	financial	ADJ
cblr-1695	221	74	statement	statement	NOUN
cblr-1695	221	75	schedules	schedule	NOUN
cblr-1695	221	76	required	require	VERB
cblr-1695	221	77	by	by	ADP
cblr-1695	221	78	regulation	regulation	NOUN
cblr-1695	221	79	s	s	NOUN
cblr-1695	221	80	-	-	PUNCT
cblr-1695	221	81	x.64	x.64	NOUN
cblr-1695	221	82	despite	despite	SCONJ
cblr-1695	221	83	the	the	DET
cblr-1695	221	84	sec	sec	PROPN
cblr-1695	221	85	’s	’s	PART
cblr-1695	221	86	insistence	insistence	NOUN
cblr-1695	221	87	on	on	ADP
cblr-1695	221	88	disclosure	disclosure	NOUN
cblr-1695	221	89	within	within	ADP
cblr-1695	221	90	form	form	NOUN
cblr-1695	221	91	s1	s1	NOUN
cblr-1695	221	92	in	in	ADP
cblr-1695	221	93	order	order	NOUN
cblr-1695	221	94	to	to	PART
cblr-1695	221	95	protect	protect	VERB
cblr-1695	221	96	potential	potential	ADJ
cblr-1695	221	97	investors	investor	NOUN
cblr-1695	221	98	,	,	PUNCT
cblr-1695	221	99	“	"	PUNCT
cblr-1695	221	100	[	[	X
cblr-1695	221	101	i]t	i]t	NOUN
cblr-1695	221	102	is	be	AUX
cblr-1695	221	103	generally	generally	ADV
cblr-1695	221	104	conceded	concede	VERB
cblr-1695	221	105	to	to	PART
cblr-1695	221	106	be	be	AUX
cblr-1695	221	107	a	a	DET
cblr-1695	221	108	fiction	fiction	NOUN
cblr-1695	221	109	that	that	SCONJ
cblr-1695	221	110	each	each	DET
cblr-1695	221	111	investor	investor	NOUN
cblr-1695	221	112	or	or	CCONJ
cblr-1695	221	113	potential	potential	ADJ
cblr-1695	221	114	investor	investor	NOUN
cblr-1695	221	115	reads	read	VERB
cblr-1695	221	116	the	the	DET
cblr-1695	221	117	prospectus	prospectus	NOUN
cblr-1695	221	118	from	from	ADP
cblr-1695	221	119	cover	cover	NOUN
cblr-1695	221	120	to	to	PART
cblr-1695	221	121	cover	cover	VERB
cblr-1695	221	122	.	.	PUNCT
cblr-1695	222	1	”65	”65	NOUN
cblr-1695	222	2	nonetheless	nonetheless	ADV
cblr-1695	222	3	,	,	PUNCT
cblr-1695	222	4	because	because	SCONJ
cblr-1695	222	5	market	market	NOUN
cblr-1695	222	6	professionals	professional	NOUN
cblr-1695	222	7	—	—	PUNCT
cblr-1695	222	8	such	such	ADJ
cblr-1695	222	9	as	as	ADP
cblr-1695	222	10	research	research	NOUN
cblr-1695	222	11	analysts	analyst	NOUN
cblr-1695	222	12	,	,	PUNCT
cblr-1695	222	13	brokers	broker	NOUN
cblr-1695	222	14	,	,	PUNCT
cblr-1695	222	15	and	and	CCONJ
cblr-1695	222	16	portfolio	portfolio	NOUN
cblr-1695	222	17	managers	manager	NOUN
cblr-1695	222	18	—	—	PUNCT
cblr-1695	222	19	as	as	SCONJ
cblr-1695	222	20	a	a	DET
cblr-1695	222	21	group	group	NOUN
cblr-1695	222	22	do	do	AUX
cblr-1695	222	23	read	read	VERB
cblr-1695	222	24	such	such	ADJ
cblr-1695	222	25	publicly	publicly	ADV
cblr-1695	222	26	available	available	ADJ
cblr-1695	222	27	information	information	NOUN
cblr-1695	222	28	about	about	ADP
cblr-1695	222	29	a	a	DET
cblr-1695	222	30	company,66	company,66	NOUN
cblr-1695	222	31	stock	stock	NOUN
cblr-1695	222	32	prices	price	NOUN
cblr-1695	222	33	quickly	quickly	ADV
cblr-1695	222	34	reflect	reflect	VERB
cblr-1695	222	35	this	this	DET
cblr-1695	222	36	information	information	NOUN
cblr-1695	222	37	due	due	ADP
cblr-1695	222	38	to	to	ADP
cblr-1695	222	39	the	the	DET
cblr-1695	222	40	“	"	PUNCT
cblr-1695	222	41	critical	critical	ADJ
cblr-1695	222	42	volume	volume	NOUN
cblr-1695	222	43	of	of	ADP
cblr-1695	222	44	62	62	NUM
cblr-1695	222	45	see	see	NOUN
cblr-1695	222	46	westenberg	westenberg	PROPN
cblr-1695	222	47	,	,	PUNCT
cblr-1695	222	48	supra	supra	PROPN
cblr-1695	222	49	note	note	PROPN
cblr-1695	222	50	21	21	NUM
cblr-1695	222	51	,	,	PUNCT
cblr-1695	222	52	§	§	PROPN
cblr-1695	222	53	13:2.1	13:2.1	NUM
cblr-1695	222	54	.	.	PUNCT
cblr-1695	223	1	although	although	SCONJ
cblr-1695	223	2	this	this	DET
cblr-1695	223	3	list	list	NOUN
cblr-1695	223	4	identifies	identify	VERB
cblr-1695	223	5	six	six	NUM
cblr-1695	223	6	major	major	ADJ
cblr-1695	223	7	components	component	NOUN
cblr-1695	223	8	that	that	PRON
cblr-1695	223	9	must	must	AUX
cblr-1695	223	10	be	be	AUX
cblr-1695	223	11	disclosed	disclose	VERB
cblr-1695	223	12	in	in	ADP
cblr-1695	223	13	the	the	DET
cblr-1695	223	14	prospectus	prospectus	NOUN
cblr-1695	223	15	,	,	PUNCT
cblr-1695	223	16	it	it	PRON
cblr-1695	223	17	is	be	AUX
cblr-1695	223	18	not	not	PART
cblr-1695	223	19	exhaustive	exhaustive	ADJ
cblr-1695	223	20	.	.	PUNCT
cblr-1695	224	1	for	for	ADP
cblr-1695	224	2	a	a	DET
cblr-1695	224	3	fuller	full	ADJ
cblr-1695	224	4	description	description	NOUN
cblr-1695	224	5	of	of	ADP
cblr-1695	224	6	these	these	DET
cblr-1695	224	7	components	component	NOUN
cblr-1695	224	8	,	,	PUNCT
cblr-1695	224	9	additional	additional	ADJ
cblr-1695	224	10	information	information	NOUN
cblr-1695	224	11	that	that	PRON
cblr-1695	224	12	must	must	AUX
cblr-1695	224	13	be	be	AUX
cblr-1695	224	14	disclosed	disclose	VERB
cblr-1695	224	15	,	,	PUNCT
cblr-1695	224	16	and	and	CCONJ
cblr-1695	224	17	optional	optional	ADJ
cblr-1695	224	18	information	information	NOUN
cblr-1695	224	19	that	that	PRON
cblr-1695	224	20	is	be	AUX
cblr-1695	224	21	customary	customary	ADJ
cblr-1695	224	22	to	to	PART
cblr-1695	224	23	include	include	VERB
cblr-1695	224	24	,	,	PUNCT
cblr-1695	224	25	see	see	VERB
cblr-1695	224	26	i	i	PRON
cblr-1695	224	27	d.	d.	PROPN
cblr-1695	224	28	63	63	NUM
cblr-1695	224	29	i	i	PRON
cblr-1695	224	30	d.	d.	PROPN
cblr-1695	224	31	§	§	PROPN
cblr-1695	224	32	13:2.2	13:2.2	NUM
cblr-1695	224	33	.	.	PUNCT
cblr-1695	224	34	64	64	NUM
cblr-1695	225	1	i	i	PRON
cblr-1695	225	2	d.	d.	PROPN
cblr-1695	225	3	§	§	PROPN
cblr-1695	225	4	13:2.3	13:2.3	NUM
cblr-1695	225	5	.	.	PUNCT
cblr-1695	226	1	65	65	NUM
cblr-1695	226	2	hazen	hazen	PROPN
cblr-1695	226	3	,	,	PUNCT
cblr-1695	226	4	supra	supra	PROPN
cblr-1695	226	5	note	note	PROPN
cblr-1695	226	6	57	57	NUM
cblr-1695	226	7	,	,	PUNCT
cblr-1695	226	8	at	at	ADP
cblr-1695	226	9	52	52	NUM
cblr-1695	226	10	.	.	PUNCT
cblr-1695	227	1	66	66	NUM
cblr-1695	228	1	i	i	PRON
cblr-1695	228	2	d.	d.	PROPN
cblr-1695	228	3	320	320	NUM
cblr-1695	228	4	columbia	columbia	PROPN
cblr-1695	228	5	business	business	NOUN
cblr-1695	228	6	law	law	PROPN
cblr-1695	228	7	review	review	NOUN
cblr-1695	228	8	[	[	X
cblr-1695	228	9	vol	vol	NOUN
cblr-1695	228	10	.	.	NOUN
cblr-1695	228	11	2019	2019	NUM
cblr-1695	228	12	trading	trading	NOUN
cblr-1695	228	13	activity	activity	NOUN
cblr-1695	228	14	”	"	PUNCT
cblr-1695	228	15	that	that	SCONJ
cblr-1695	228	16	such	such	ADJ
cblr-1695	228	17	groups	group	NOUN
cblr-1695	228	18	control.67	control.67	VERB
cblr-1695	228	19	this	this	PRON
cblr-1695	228	20	,	,	PUNCT
cblr-1695	228	21	in	in	ADP
cblr-1695	228	22	turn	turn	NOUN
cblr-1695	228	23	,	,	PUNCT
cblr-1695	228	24	creates	create	VERB
cblr-1695	228	25	an	an	DET
cblr-1695	228	26	efficient	efficient	ADJ
cblr-1695	228	27	market	market	NOUN
cblr-1695	228	28	through	through	ADP
cblr-1695	228	29	which	which	PRON
cblr-1695	228	30	all	all	DET
cblr-1695	228	31	investors	investor	NOUN
cblr-1695	228	32	benefit	benefit	VERB
cblr-1695	228	33	because	because	SCONJ
cblr-1695	228	34	any	any	DET
cblr-1695	228	35	relevant	relevant	ADJ
cblr-1695	228	36	information	information	NOUN
cblr-1695	228	37	disclosed	disclose	VERB
cblr-1695	228	38	in	in	ADP
cblr-1695	228	39	the	the	DET
cblr-1695	228	40	form	form	NOUN
cblr-1695	228	41	s-1	s-1	NOUN
cblr-1695	228	42	is	be	AUX
cblr-1695	228	43	filtered	filter	VERB
cblr-1695	228	44	into	into	ADP
cblr-1695	228	45	the	the	DET
cblr-1695	228	46	market	market	NOUN
cblr-1695	228	47	and	and	CCONJ
cblr-1695	228	48	reflected	reflect	VERB
cblr-1695	228	49	in	in	ADP
cblr-1695	228	50	the	the	DET
cblr-1695	228	51	stock	stock	NOUN
cblr-1695	228	52	price.68	price.68	NOUN
cblr-1695	228	53	after	after	ADP
cblr-1695	228	54	a	a	DET
cblr-1695	228	55	form	form	NOUN
cblr-1695	228	56	s-1	s-1	NOUN
cblr-1695	228	57	is	be	AUX
cblr-1695	228	58	filed	file	VERB
cblr-1695	228	59	,	,	PUNCT
cblr-1695	228	60	the	the	DET
cblr-1695	228	61	sec	sec	PROPN
cblr-1695	228	62	provides	provide	VERB
cblr-1695	228	63	comments	comment	NOUN
cblr-1695	228	64	on	on	ADP
cblr-1695	228	65	it	it	PRON
cblr-1695	228	66	to	to	ADP
cblr-1695	228	67	the	the	DET
cblr-1695	228	68	issuer.69	issuer.69	NOUN
cblr-1695	228	69	the	the	DET
cblr-1695	228	70	issuer	issuer	NOUN
cblr-1695	228	71	must	must	AUX
cblr-1695	228	72	then	then	ADV
cblr-1695	228	73	respond	respond	VERB
cblr-1695	228	74	to	to	ADP
cblr-1695	228	75	these	these	DET
cblr-1695	228	76	comments	comment	NOUN
cblr-1695	228	77	and	and	CCONJ
cblr-1695	228	78	complete	complete	VERB
cblr-1695	228	79	all	all	DET
cblr-1695	228	80	other	other	ADJ
cblr-1695	228	81	necessary	necessary	ADJ
cblr-1695	228	82	steps	step	NOUN
cblr-1695	228	83	of	of	ADP
cblr-1695	228	84	the	the	DET
cblr-1695	228	85	ipo	ipo	NOUN
cblr-1695	228	86	process	process	NOUN
cblr-1695	228	87	,	,	PUNCT
cblr-1695	228	88	which	which	PRON
cblr-1695	228	89	are	be	AUX
cblr-1695	228	90	beyond	beyond	ADP
cblr-1695	228	91	the	the	DET
cblr-1695	228	92	scope	scope	NOUN
cblr-1695	228	93	of	of	ADP
cblr-1695	228	94	this	this	DET
cblr-1695	228	95	note.70	note.70	NOUN
cblr-1695	228	96	thus	thus	ADV
cblr-1695	228	97	,	,	PUNCT
cblr-1695	228	98	it	it	PRON
cblr-1695	228	99	typically	typically	ADV
cblr-1695	228	100	takes	take	VERB
cblr-1695	228	101	a	a	DET
cblr-1695	228	102	few	few	ADJ
cblr-1695	228	103	months	month	NOUN
cblr-1695	228	104	after	after	ADP
cblr-1695	228	105	publicly	publicly	ADV
cblr-1695	228	106	filing	file	VERB
cblr-1695	228	107	its	its	PRON
cblr-1695	228	108	form	form	NOUN
cblr-1695	228	109	s-1	s-1	NOUN
cblr-1695	228	110	before	before	SCONJ
cblr-1695	228	111	the	the	DET
cblr-1695	228	112	firm	firm	NOUN
cblr-1695	228	113	officially	officially	ADV
cblr-1695	228	114	becomes	become	VERB
cblr-1695	228	115	a	a	DET
cblr-1695	228	116	public	public	ADJ
cblr-1695	228	117	company.71	company.71	PROPN
cblr-1695	228	118	d.	d.	PROPN
cblr-1695	228	119	the	the	DET
cblr-1695	228	120	2012	2012	NUM
cblr-1695	228	121	jumpstart	jumpstart	VERB
cblr-1695	228	122	our	our	PRON
cblr-1695	228	123	business	business	NOUN
cblr-1695	228	124	startups	startup	NOUN
cblr-1695	228	125	act	act	VERB
cblr-1695	228	126	on	on	ADP
cblr-1695	228	127	april	april	PROPN
cblr-1695	228	128	5	5	NUM
cblr-1695	228	129	,	,	PUNCT
cblr-1695	228	130	2012	2012	NUM
cblr-1695	228	131	,	,	PUNCT
cblr-1695	228	132	president	president	PROPN
cblr-1695	228	133	barack	barack	PROPN
cblr-1695	228	134	obama	obama	PROPN
cblr-1695	228	135	signed	sign	VERB
cblr-1695	228	136	the	the	DET
cblr-1695	228	137	jobs	job	NOUN
cblr-1695	228	138	act72	act72	VERB
cblr-1695	228	139	into	into	ADP
cblr-1695	228	140	law	law	NOUN
cblr-1695	228	141	,	,	PUNCT
cblr-1695	228	142	which	which	PRON
cblr-1695	228	143	amended	amend	VERB
cblr-1695	228	144	sections	section	NOUN
cblr-1695	228	145	of	of	ADP
cblr-1695	228	146	the	the	DET
cblr-1695	228	147	1933	1933	NUM
cblr-1695	228	148	act	act	NOUN
cblr-1695	228	149	and	and	CCONJ
cblr-1695	228	150	1934	1934	NUM
cblr-1695	228	151	act	act	NOUN
cblr-1695	228	152	by	by	ADP
cblr-1695	228	153	implementing	implement	VERB
cblr-1695	228	154	several	several	ADJ
cblr-1695	228	155	initiatives	initiative	NOUN
cblr-1695	228	156	designed	design	VERB
cblr-1695	228	157	to	to	PART
cblr-1695	228	158	“	"	PUNCT
cblr-1695	228	159	facilitate	facilitate	VERB
cblr-1695	228	160	access	access	NOUN
cblr-1695	228	161	to	to	ADP
cblr-1695	228	162	the	the	DET
cblr-1695	228	163	capital	capital	NOUN
cblr-1695	228	164	markets	market	NOUN
cblr-1695	228	165	while	while	SCONJ
cblr-1695	228	166	lessening	lessen	VERB
cblr-1695	228	167	the	the	DET
cblr-1695	228	168	regulatory	regulatory	ADJ
cblr-1695	228	169	burdens	burden	NOUN
cblr-1695	228	170	of	of	ADP
cblr-1695	228	171	traditional	traditional	ADJ
cblr-1695	228	172	ipos[.]”73	ipos[.]”73	NOUN
cblr-1695	228	173	the	the	DET
cblr-1695	228	174	act	act	NOUN
cblr-1695	228	175	itself	itself	PRON
cblr-1695	228	176	states	state	VERB
cblr-1695	228	177	its	its	PRON
cblr-1695	228	178	purpose	purpose	NOUN
cblr-1695	228	179	is	be	AUX
cblr-1695	228	180	“	"	PUNCT
cblr-1695	228	181	[	[	X
cblr-1695	228	182	t]o	t]o	NOUN
cblr-1695	228	183	increase	increase	VERB
cblr-1695	228	184	american	american	ADJ
cblr-1695	228	185	job	job	NOUN
cblr-1695	228	186	creation	creation	NOUN
cblr-1695	228	187	and	and	CCONJ
cblr-1695	228	188	economic	economic	ADJ
cblr-1695	228	189	growth	growth	NOUN
cblr-1695	228	190	by	by	ADP
cblr-1695	228	191	improving	improve	VERB
cblr-1695	228	192	access	access	NOUN
cblr-1695	228	193	to	to	ADP
cblr-1695	228	194	the	the	DET
cblr-1695	228	195	public	public	ADJ
cblr-1695	228	196	capital	capital	NOUN
cblr-1695	228	197	markets	market	NOUN
cblr-1695	228	198	for	for	ADP
cblr-1695	228	199	emerging	emerge	VERB
cblr-1695	228	200	growth	growth	NOUN
cblr-1695	228	201	companies	company	NOUN
cblr-1695	228	202	.	.	PUNCT
cblr-1695	229	1	”74	”74	PUNCT
cblr-1695	229	2	the	the	DET
cblr-1695	229	3	predicate	predicate	NOUN
cblr-1695	229	4	of	of	ADP
cblr-1695	229	5	this	this	DET
cblr-1695	229	6	act	act	NOUN
cblr-1695	229	7	was	be	AUX
cblr-1695	229	8	that	that	SCONJ
cblr-1695	229	9	smaller	small	ADJ
cblr-1695	229	10	companies	company	NOUN
cblr-1695	229	11	were	be	AUX
cblr-1695	229	12	deterred	deter	VERB
cblr-1695	229	13	or	or	CCONJ
cblr-1695	229	14	precluded	preclude	VERB
cblr-1695	229	15	from	from	ADP
cblr-1695	229	16	going	go	VERB
cblr-1695	229	17	public	public	ADJ
cblr-1695	229	18	because	because	SCONJ
cblr-1695	229	19	of	of	ADP
cblr-1695	229	20	massive	massive	ADJ
cblr-1695	229	21	regulatory	regulatory	ADJ
cblr-1695	229	22	burdens	burden	NOUN
cblr-1695	229	23	,	,	PUNCT
cblr-1695	229	24	particularly	particularly	ADV
cblr-1695	229	25	those	those	PRON
cblr-1695	229	26	imposed	impose	VERB
cblr-1695	229	27	by	by	ADP
cblr-1695	229	28	sox	sox	PROPN
cblr-1695	229	29	and	and	CCONJ
cblr-1695	229	30	doddfrank.75	doddfrank.75	PROPN
cblr-1695	229	31	67	67	NUM
cblr-1695	229	32	gilson	gilson	PROPN
cblr-1695	229	33	&	&	CCONJ
cblr-1695	229	34	black	black	ADJ
cblr-1695	229	35	,	,	PUNCT
cblr-1695	229	36	supra	supra	ADJ
cblr-1695	229	37	note	note	NOUN
cblr-1695	229	38	24	24	NUM
cblr-1695	229	39	,	,	PUNCT
cblr-1695	229	40	at	at	ADP
cblr-1695	229	41	150	150	NUM
cblr-1695	229	42	.	.	PUNCT
cblr-1695	230	1	this	this	DET
cblr-1695	230	2	idea	idea	NOUN
cblr-1695	230	3	rests	rest	VERB
cblr-1695	230	4	of	of	ADP
cblr-1695	230	5	the	the	DET
cblr-1695	230	6	semistrong	semistrong	ADJ
cblr-1695	230	7	form	form	NOUN
cblr-1695	230	8	of	of	ADP
cblr-1695	230	9	the	the	DET
cblr-1695	230	10	efficient	efficient	ADJ
cblr-1695	230	11	market	market	NOUN
cblr-1695	230	12	hypothesis	hypothesis	NOUN
cblr-1695	230	13	.	.	PUNCT
cblr-1695	231	1	see	see	VERB
cblr-1695	231	2	i	i	PRON
cblr-1695	231	3	d.	d.	PROPN
cblr-1695	231	4	at	at	ADP
cblr-1695	231	5	150–51	150–51	NUM
cblr-1695	231	6	.	.	PUNCT
cblr-1695	232	1	68	68	NUM
cblr-1695	232	2	see	see	VERB
cblr-1695	232	3	hazen	hazen	PROPN
cblr-1695	232	4	,	,	PUNCT
cblr-1695	232	5	supra	supra	PROPN
cblr-1695	232	6	note	note	PROPN
cblr-1695	232	7	57	57	NUM
cblr-1695	232	8	,	,	PUNCT
cblr-1695	232	9	at	at	ADP
cblr-1695	232	10	52–53	52–53	NUM
cblr-1695	232	11	.	.	PUNCT
cblr-1695	233	1	69	69	NUM
cblr-1695	233	2	see	see	VERB
cblr-1695	233	3	latham	latham	PROPN
cblr-1695	233	4	&	&	CCONJ
cblr-1695	233	5	watkins	watkins	PROPN
cblr-1695	233	6	llp	llp	PROPN
cblr-1695	233	7	,	,	PUNCT
cblr-1695	233	8	us	us	PROPN
cblr-1695	233	9	ipo	ipo	PROPN
cblr-1695	233	10	guide	guide	VERB
cblr-1695	233	11	4–8	4–8	NUM
cblr-1695	233	12	(	(	PUNCT
cblr-1695	233	13	2018	2018	NUM
cblr-1695	233	14	)	)	PUNCT
cblr-1695	233	15	,	,	PUNCT
cblr-1695	233	16	https://www.lw.com/thoughtleadership/lw-us-ipo-guide	https://www.lw.com/thoughtleadership/lw-us-ipo-guide	PROPN
cblr-1695	234	1	[	[	X
cblr-1695	234	2	https://perma.cc/	https://perma.cc/	VERB
cblr-1695	234	3	b93h	b93h	NOUN
cblr-1695	234	4	-	-	PUNCT
cblr-1695	234	5	w9ky	w9ky	ADP
cblr-1695	234	6	]	]	X
cblr-1695	234	7	.	.	PUNCT
cblr-1695	235	1	70	70	NUM
cblr-1695	235	2	see	see	VERB
cblr-1695	235	3	i	i	PRON
cblr-1695	235	4	d.	d.	PROPN
cblr-1695	235	5	71	71	NUM
cblr-1695	235	6	see	see	VERB
cblr-1695	235	7	i	i	PRON
cblr-1695	235	8	d.	d.	PROPN
cblr-1695	235	9	at	at	ADP
cblr-1695	235	10	4	4	NUM
cblr-1695	235	11	.	.	NUM
cblr-1695	235	12	72	72	NUM
cblr-1695	235	13	jumpstart	jumpstart	VERB
cblr-1695	235	14	our	our	PRON
cblr-1695	235	15	business	business	NOUN
cblr-1695	235	16	startups	startup	NOUN
cblr-1695	235	17	act	act	PROPN
cblr-1695	235	18	,	,	PUNCT
cblr-1695	235	19	pub	pub	NOUN
cblr-1695	235	20	.	.	PUNCT
cblr-1695	236	1	l.	l.	PROPN
cblr-1695	236	2	no	no	INTJ
cblr-1695	236	3	.	.	PROPN
cblr-1695	237	1	112	112	NUM
cblr-1695	237	2	-	-	SYM
cblr-1695	237	3	106	106	NUM
cblr-1695	237	4	,	,	PUNCT
cblr-1695	237	5	126	126	NUM
cblr-1695	237	6	stat	stat	NOUN
cblr-1695	237	7	.	.	PUNCT
cblr-1695	238	1	306	306	NUM
cblr-1695	238	2	(	(	PUNCT
cblr-1695	238	3	2012	2012	NUM
cblr-1695	238	4	)	)	PUNCT
cblr-1695	238	5	(	(	PUNCT
cblr-1695	238	6	codified	codify	VERB
cblr-1695	238	7	in	in	ADP
cblr-1695	238	8	various	various	ADJ
cblr-1695	238	9	sections	section	NOUN
cblr-1695	238	10	of	of	ADP
cblr-1695	238	11	15	15	NUM
cblr-1695	238	12	u.s.c	u.s.c	ADJ
cblr-1695	238	13	.	.	PUNCT
cblr-1695	238	14	)	)	PUNCT
cblr-1695	238	15	.	.	PUNCT
cblr-1695	239	1	73	73	NUM
cblr-1695	239	2	brent	brent	PROPN
cblr-1695	239	3	a.	a.	PROPN
cblr-1695	239	4	olson	olson	PROPN
cblr-1695	239	5	,	,	PUNCT
cblr-1695	239	6	publicly	publicly	ADV
cblr-1695	239	7	traded	trade	VERB
cblr-1695	239	8	corporations	corporation	NOUN
cblr-1695	239	9	handbook	handbook	VERB
cblr-1695	239	10	§	§	PROPN
cblr-1695	239	11	8.46	8.46	NUM
cblr-1695	239	12	,	,	PUNCT
cblr-1695	239	13	westlaw	westlaw	NOUN
cblr-1695	239	14	(	(	PUNCT
cblr-1695	239	15	updated	update	VERB
cblr-1695	239	16	oct	oct	PROPN
cblr-1695	239	17	.	.	PROPN
cblr-1695	239	18	2018	2018	NUM
cblr-1695	239	19	)	)	PUNCT
cblr-1695	239	20	.	.	PUNCT
cblr-1695	240	1	74	74	NUM
cblr-1695	240	2	jumpstart	jumpstart	VERB
cblr-1695	240	3	our	our	PRON
cblr-1695	240	4	business	business	NOUN
cblr-1695	240	5	startups	startup	NOUN
cblr-1695	240	6	act	act	NOUN
cblr-1695	240	7	,	,	PUNCT
cblr-1695	240	8	126	126	NUM
cblr-1695	240	9	stat	stat	NOUN
cblr-1695	240	10	.	.	PUNCT
cblr-1695	241	1	at	at	ADP
cblr-1695	241	2	306	306	NUM
cblr-1695	241	3	.	.	PUNCT
cblr-1695	242	1	75	75	NUM
cblr-1695	242	2	john	john	PROPN
cblr-1695	242	3	c.	c.	PROPN
cblr-1695	242	4	coffee	coffee	PROPN
cblr-1695	242	5	,	,	PUNCT
cblr-1695	242	6	jr	jr	PROPN
cblr-1695	242	7	.	.	PROPN
cblr-1695	242	8	,	,	PUNCT
cblr-1695	242	9	hillary	hillary	PROPN
cblr-1695	242	10	a.	a.	NOUN
cblr-1695	242	11	sale	sale	PROPN
cblr-1695	242	12	&	&	CCONJ
cblr-1695	242	13	m.	m.	PROPN
cblr-1695	242	14	todd	todd	PROPN
cblr-1695	242	15	henderson	henderson	PROPN
cblr-1695	242	16	,	,	PUNCT
cblr-1695	242	17	securities	security	NOUN
cblr-1695	242	18	regulation	regulation	NOUN
cblr-1695	242	19	:	:	PUNCT
cblr-1695	242	20	cases	case	NOUN
cblr-1695	242	21	and	and	CCONJ
cblr-1695	242	22	materials	material	NOUN
cblr-1695	242	23	146	146	NUM
cblr-1695	242	24	(	(	PUNCT
cblr-1695	242	25	13th	13th	NOUN
cblr-1695	242	26	ed	ed	NOUN
cblr-1695	242	27	.	.	PROPN
cblr-1695	242	28	2015	2015	NUM
cblr-1695	242	29	)	)	PUNCT
cblr-1695	242	30	.	.	PUNCT
cblr-1695	243	1	no	no	INTJ
cblr-1695	243	2	.	.	PUNCT
cblr-1695	244	1	1:305	1:305	NUM
cblr-1695	244	2	]	]	X
cblr-1695	244	3	going	go	VERB
cblr-1695	244	4	public	public	ADJ
cblr-1695	244	5	secretly	secretly	ADV
cblr-1695	244	6	321	321	NUM
cblr-1695	244	7	the	the	DET
cblr-1695	244	8	new	new	ADJ
cblr-1695	244	9	procedures	procedure	NOUN
cblr-1695	244	10	codified	codify	VERB
cblr-1695	244	11	by	by	ADP
cblr-1695	244	12	the	the	DET
cblr-1695	244	13	jobs	job	NOUN
cblr-1695	244	14	act	act	NOUN
cblr-1695	244	15	are	be	AUX
cblr-1695	244	16	aimed	aim	VERB
cblr-1695	244	17	at	at	ADP
cblr-1695	244	18	emerging	emerge	VERB
cblr-1695	244	19	growth	growth	NOUN
cblr-1695	244	20	companies	company	NOUN
cblr-1695	244	21	(	(	PUNCT
cblr-1695	244	22	“	"	PUNCT
cblr-1695	244	23	egcs	egcs	PROPN
cblr-1695	244	24	”	"	PUNCT
cblr-1695	244	25	)	)	PUNCT
cblr-1695	244	26	.	.	PUNCT
cblr-1695	245	1	an	an	DET
cblr-1695	245	2	egc	egc	NOUN
cblr-1695	245	3	is	be	AUX
cblr-1695	245	4	defined	define	VERB
cblr-1695	245	5	by	by	ADP
cblr-1695	245	6	the	the	DET
cblr-1695	245	7	act	act	NOUN
cblr-1695	245	8	as	as	ADP
cblr-1695	245	9	“	"	PUNCT
cblr-1695	245	10	an	an	DET
cblr-1695	245	11	issuer	issuer	NOUN
cblr-1695	245	12	that	that	PRON
cblr-1695	245	13	had	have	VERB
cblr-1695	245	14	total	total	ADJ
cblr-1695	245	15	annual	annual	ADJ
cblr-1695	245	16	gross	gross	ADJ
cblr-1695	245	17	revenues	revenue	NOUN
cblr-1695	245	18	of	of	ADP
cblr-1695	245	19	less	less	ADJ
cblr-1695	245	20	than	than	ADP
cblr-1695	245	21	$	$	SYM
cblr-1695	245	22	1,000,000,000	1,000,000,000	NUM
cblr-1695	245	23	.	.	PUNCT
cblr-1695	245	24	.	.	PUNCT
cblr-1695	246	1	.	.	PUNCT
cblr-1695	247	1	during	during	ADP
cblr-1695	247	2	its	its	PRON
cblr-1695	247	3	most	most	ADV
cblr-1695	247	4	recently	recently	ADV
cblr-1695	247	5	completed	complete	VERB
cblr-1695	247	6	fiscal	fiscal	ADJ
cblr-1695	247	7	year	year	NOUN
cblr-1695	247	8	.	.	PUNCT
cblr-1695	248	1	”76	”76	NOUN
cblr-1695	249	1	this	this	DET
cblr-1695	249	2	definition	definition	NOUN
cblr-1695	249	3	is	be	AUX
cblr-1695	249	4	adjusted	adjust	VERB
cblr-1695	249	5	for	for	ADP
cblr-1695	249	6	inflation	inflation	NOUN
cblr-1695	249	7	every	every	DET
cblr-1695	249	8	five	five	NUM
cblr-1695	249	9	years,77	years,77	NOUN
cblr-1695	249	10	and	and	CCONJ
cblr-1695	249	11	,	,	PUNCT
cblr-1695	249	12	in	in	ADP
cblr-1695	249	13	2017	2017	NUM
cblr-1695	249	14	,	,	PUNCT
cblr-1695	249	15	the	the	DET
cblr-1695	249	16	sec	sec	PROPN
cblr-1695	249	17	increased	increase	VERB
cblr-1695	249	18	the	the	DET
cblr-1695	249	19	egc	egc	ADJ
cblr-1695	249	20	revenue	revenue	NOUN
cblr-1695	249	21	requirement	requirement	NOUN
cblr-1695	249	22	to	to	ADP
cblr-1695	249	23	under	under	ADP
cblr-1695	249	24	$	$	SYM
cblr-1695	249	25	1,070,000,000	1,070,000,000	NUM
cblr-1695	249	26	,	,	PUNCT
cblr-1695	249	27	which	which	PRON
cblr-1695	249	28	is	be	AUX
cblr-1695	249	29	where	where	SCONJ
cblr-1695	249	30	it	it	PRON
cblr-1695	249	31	remains	remain	VERB
cblr-1695	249	32	today.78	today.78	ADV
cblr-1695	249	33	in	in	ADP
cblr-1695	249	34	most	most	ADJ
cblr-1695	249	35	cases	case	NOUN
cblr-1695	249	36	,	,	PUNCT
cblr-1695	249	37	an	an	DET
cblr-1695	249	38	issuer	issuer	NOUN
cblr-1695	249	39	remains	remain	VERB
cblr-1695	249	40	an	an	DET
cblr-1695	249	41	egc	egc	NOUN
cblr-1695	249	42	until	until	SCONJ
cblr-1695	249	43	five	five	NUM
cblr-1695	249	44	years	year	NOUN
cblr-1695	249	45	after	after	SCONJ
cblr-1695	249	46	its	its	PRON
cblr-1695	249	47	ipo.79	ipo.79	NOUN
cblr-1695	249	48	qualifying	qualify	VERB
cblr-1695	249	49	as	as	ADP
cblr-1695	249	50	an	an	DET
cblr-1695	249	51	egc	egc	NOUN
cblr-1695	249	52	comes	come	VERB
cblr-1695	249	53	with	with	ADP
cblr-1695	249	54	several	several	ADJ
cblr-1695	249	55	benefits	benefit	NOUN
cblr-1695	249	56	throughout	throughout	ADP
cblr-1695	249	57	the	the	DET
cblr-1695	249	58	registration	registration	NOUN
cblr-1695	249	59	process	process	NOUN
cblr-1695	249	60	and	and	CCONJ
cblr-1695	249	61	beyond	beyond	ADP
cblr-1695	249	62	.	.	PUNCT
cblr-1695	250	1	first	first	ADV
cblr-1695	250	2	,	,	PUNCT
cblr-1695	250	3	and	and	CCONJ
cblr-1695	250	4	most	most	ADV
cblr-1695	250	5	importantly	importantly	ADV
cblr-1695	250	6	,	,	PUNCT
cblr-1695	250	7	an	an	DET
cblr-1695	250	8	egc	egc	NOUN
cblr-1695	250	9	may	may	AUX
cblr-1695	250	10	confidentially	confidentially	ADV
cblr-1695	250	11	submit	submit	VERB
cblr-1695	250	12	a	a	DET
cblr-1695	250	13	draft	draft	NOUN
cblr-1695	250	14	registration	registration	NOUN
cblr-1695	250	15	statement	statement	NOUN
cblr-1695	250	16	(	(	PUNCT
cblr-1695	250	17	“	"	PUNCT
cblr-1695	250	18	drs	drs	PROPN
cblr-1695	250	19	”	"	PUNCT
cblr-1695	250	20	)	)	PUNCT
cblr-1695	250	21	,	,	PUNCT
cblr-1695	250	22	i.e.	i.e.	X
cblr-1695	250	23	a	a	DET
cblr-1695	250	24	draft	draft	NOUN
cblr-1695	250	25	form	form	NOUN
cblr-1695	250	26	s-1	s-1	NOUN
cblr-1695	250	27	,	,	PUNCT
cblr-1695	250	28	to	to	ADP
cblr-1695	250	29	the	the	DET
cblr-1695	250	30	sec	sec	PROPN
cblr-1695	250	31	for	for	ADP
cblr-1695	250	32	non	non	ADJ
cblr-1695	250	33	-	-	ADJ
cblr-1695	250	34	public	public	ADJ
cblr-1695	250	35	review.80	review.80	ADJ
cblr-1695	250	36	confidential	confidential	ADJ
cblr-1695	250	37	review	review	NOUN
cblr-1695	250	38	of	of	ADP
cblr-1695	250	39	the	the	DET
cblr-1695	250	40	form	form	NOUN
cblr-1695	250	41	s-1	s-1	NOUN
cblr-1695	250	42	is	be	AUX
cblr-1695	250	43	a	a	DET
cblr-1695	250	44	“	"	PUNCT
cblr-1695	250	45	substantial	substantial	ADJ
cblr-1695	250	46	departure	departure	NOUN
cblr-1695	250	47	”	"	PUNCT
cblr-1695	250	48	from	from	ADP
cblr-1695	250	49	prior	prior	ADJ
cblr-1695	250	50	rules	rule	NOUN
cblr-1695	250	51	regulating	regulate	VERB
cblr-1695	250	52	this	this	DET
cblr-1695	250	53	process	process	NOUN
cblr-1695	250	54	,	,	PUNCT
cblr-1695	250	55	which	which	PRON
cblr-1695	250	56	had	have	AUX
cblr-1695	250	57	never	never	ADV
cblr-1695	250	58	before	before	ADV
cblr-1695	250	59	allowed	allow	VERB
cblr-1695	250	60	confidential	confidential	ADJ
cblr-1695	250	61	review	review	NOUN
cblr-1695	250	62	,	,	PUNCT
cblr-1695	250	63	but	but	CCONJ
cblr-1695	250	64	instead	instead	ADV
cblr-1695	250	65	mandated	mandate	VERB
cblr-1695	250	66	public	public	ADJ
cblr-1695	250	67	filing.81	filing.81	NOUN
cblr-1695	250	68	although	although	SCONJ
cblr-1695	250	69	the	the	DET
cblr-1695	250	70	confidential	confidential	ADJ
cblr-1695	250	71	filing	filing	NOUN
cblr-1695	250	72	is	be	AUX
cblr-1695	250	73	called	call	VERB
cblr-1695	250	74	a	a	DET
cblr-1695	250	75	draft	draft	NOUN
cblr-1695	250	76	,	,	PUNCT
cblr-1695	250	77	it	it	PRON
cblr-1695	250	78	still	still	ADV
cblr-1695	250	79	must	must	AUX
cblr-1695	250	80	be	be	AUX
cblr-1695	250	81	substantially	substantially	ADV
cblr-1695	250	82	complete	complete	ADJ
cblr-1695	250	83	and	and	CCONJ
cblr-1695	250	84	include	include	VERB
cblr-1695	250	85	all	all	DET
cblr-1695	250	86	required	require	VERB
cblr-1695	250	87	disclosures.82	disclosures.82	NOUN
cblr-1695	250	88	further	far	ADV
cblr-1695	250	89	,	,	PUNCT
cblr-1695	250	90	while	while	SCONJ
cblr-1695	250	91	confidential	confidential	ADJ
cblr-1695	250	92	filing	filing	NOUN
cblr-1695	250	93	is	be	AUX
cblr-1695	250	94	permitted	permit	VERB
cblr-1695	250	95	initially	initially	ADV
cblr-1695	250	96	,	,	PUNCT
cblr-1695	250	97	an	an	DET
cblr-1695	250	98	issuer	issuer	NOUN
cblr-1695	250	99	still	still	ADV
cblr-1695	250	100	must	must	AUX
cblr-1695	250	101	publicly	publicly	ADV
cblr-1695	250	102	file	file	VERB
cblr-1695	250	103	its	its	PRON
cblr-1695	250	104	registration	registration	NOUN
cblr-1695	250	105	statement	statement	NOUN
cblr-1695	250	106	no	no	DET
cblr-1695	250	107	76	76	NUM
cblr-1695	250	108	15	15	NUM
cblr-1695	250	109	u.s.c	u.s.c	NOUN
cblr-1695	250	110	.	.	PUNCT
cblr-1695	251	1	§	§	PROPN
cblr-1695	251	2	77b(a)(19	77b(a)(19	NUM
cblr-1695	251	3	)	)	PUNCT
cblr-1695	251	4	.	.	PUNCT
cblr-1695	252	1	77	77	NUM
cblr-1695	253	1	i	i	PRON
cblr-1695	253	2	d.	d.	PROPN
cblr-1695	253	3	78	78	NUM
cblr-1695	253	4	see	see	VERB
cblr-1695	253	5	inflation	inflation	NOUN
cblr-1695	253	6	adjustments	adjustment	NOUN
cblr-1695	253	7	and	and	CCONJ
cblr-1695	253	8	other	other	ADJ
cblr-1695	253	9	technical	technical	ADJ
cblr-1695	253	10	amendments	amendment	NOUN
cblr-1695	253	11	under	under	ADP
cblr-1695	253	12	titles	title	NOUN
cblr-1695	253	13	i	i	PRON
cblr-1695	253	14	and	and	CCONJ
cblr-1695	253	15	iii	iii	NUM
cblr-1695	253	16	of	of	ADP
cblr-1695	253	17	the	the	DET
cblr-1695	253	18	jobs	job	NOUN
cblr-1695	253	19	act	act	PROPN
cblr-1695	253	20	,	,	PUNCT
cblr-1695	253	21	exchange	exchange	NOUN
cblr-1695	253	22	act	act	PROPN
cblr-1695	253	23	release	release	PROPN
cblr-1695	253	24	nos	nos	NOUN
cblr-1695	253	25	.	.	PROPN
cblr-1695	253	26	33	33	NUM
cblr-1695	253	27	-	-	SYM
cblr-1695	253	28	10332	10332	NUM
cblr-1695	253	29	,	,	PUNCT
cblr-1695	253	30	3480355	3480355	NUM
cblr-1695	253	31	,	,	PUNCT
cblr-1695	253	32	116	116	NUM
cblr-1695	253	33	sec	sec	PROPN
cblr-1695	253	34	docket	docket	NOUN
cblr-1695	253	35	1819	1819	NUM
cblr-1695	253	36	(	(	PUNCT
cblr-1695	253	37	mar	mar	PROPN
cblr-1695	253	38	.	.	PROPN
cblr-1695	253	39	31	31	NUM
cblr-1695	253	40	,	,	PUNCT
cblr-1695	253	41	2017	2017	NUM
cblr-1695	253	42	)	)	PUNCT
cblr-1695	253	43	;	;	PUNCT
cblr-1695	253	44	see	see	VERB
cblr-1695	253	45	also	also	ADV
cblr-1695	253	46	jobs	job	NOUN
cblr-1695	253	47	act	act	VERB
cblr-1695	253	48	egc	egc	PROPN
cblr-1695	253	49	revenue	revenue	NOUN
cblr-1695	253	50	cap	cap	NOUN
cblr-1695	253	51	raised	raise	VERB
cblr-1695	253	52	to	to	ADP
cblr-1695	253	53	$	$	SYM
cblr-1695	253	54	1.07	1.07	NUM
cblr-1695	253	55	billion	billion	NUM
cblr-1695	253	56	to	to	PART
cblr-1695	253	57	adjust	adjust	VERB
cblr-1695	253	58	for	for	ADP
cblr-1695	253	59	inflation	inflation	NOUN
cblr-1695	253	60	,	,	PUNCT
cblr-1695	253	61	davis	davis	PROPN
cblr-1695	253	62	polk	polk	PROPN
cblr-1695	253	63	&	&	CCONJ
cblr-1695	253	64	wardwell	wardwell	PROPN
cblr-1695	253	65	llp	llp	PROPN
cblr-1695	253	66	(	(	PUNCT
cblr-1695	253	67	apr	apr	PROPN
cblr-1695	253	68	.	.	PROPN
cblr-1695	253	69	3	3	NUM
cblr-1695	253	70	,	,	PUNCT
cblr-1695	253	71	2017	2017	NUM
cblr-1695	253	72	)	)	PUNCT
cblr-1695	253	73	,	,	PUNCT
cblr-1695	253	74	https://www.davispolk.com/files/2017-0403_jobs_act_egc_revenue_cap_raised_1.07_billion_adjust_inflation.pdf	https://www.davispolk.com/files/2017-0403_jobs_act_egc_revenue_cap_raised_1.07_billion_adjust_inflation.pdf	PUNCT
cblr-1695	254	1	[	[	X
cblr-1695	254	2	https://perma.cc/5h4s-gprr	https://perma.cc/5h4s-gprr	X
cblr-1695	254	3	]	]	X
cblr-1695	254	4	.	.	PUNCT
cblr-1695	255	1	this	this	DET
cblr-1695	255	2	figure	figure	NOUN
cblr-1695	255	3	will	will	AUX
cblr-1695	255	4	likely	likely	ADV
cblr-1695	255	5	continue	continue	VERB
cblr-1695	255	6	to	to	PART
cblr-1695	255	7	increase	increase	VERB
cblr-1695	255	8	.	.	PUNCT
cblr-1695	256	1	see	see	VERB
cblr-1695	256	2	coffee	coffee	NOUN
cblr-1695	256	3	et	et	PROPN
cblr-1695	256	4	al	al	PROPN
cblr-1695	256	5	.	.	PROPN
cblr-1695	256	6	,	,	PUNCT
cblr-1695	256	7	supra	supra	PROPN
cblr-1695	256	8	note	note	NOUN
cblr-1695	256	9	75	75	NUM
cblr-1695	256	10	,	,	PUNCT
cblr-1695	256	11	at	at	ADP
cblr-1695	256	12	146	146	NUM
cblr-1695	256	13	n.39	n.39	NOUN
cblr-1695	256	14	.	.	NOUN
cblr-1695	256	15	79	79	NUM
cblr-1695	256	16	coffee	coffee	NOUN
cblr-1695	256	17	et	et	PROPN
cblr-1695	256	18	al	al	PROPN
cblr-1695	256	19	.	.	PROPN
cblr-1695	256	20	,	,	PUNCT
cblr-1695	256	21	supra	supra	PROPN
cblr-1695	256	22	note	note	NOUN
cblr-1695	256	23	75	75	NUM
cblr-1695	256	24	,	,	PUNCT
cblr-1695	256	25	at	at	ADP
cblr-1695	256	26	146	146	NUM
cblr-1695	256	27	.	.	PUNCT
cblr-1695	257	1	in	in	ADP
cblr-1695	257	2	addition	addition	NOUN
cblr-1695	257	3	to	to	ADP
cblr-1695	257	4	the	the	DET
cblr-1695	257	5	five	five	NUM
cblr-1695	257	6	-	-	PUNCT
cblr-1695	257	7	year	year	NOUN
cblr-1695	257	8	expiration	expiration	NOUN
cblr-1695	257	9	,	,	PUNCT
cblr-1695	257	10	the	the	DET
cblr-1695	257	11	act	act	NOUN
cblr-1695	257	12	also	also	ADV
cblr-1695	257	13	provides	provide	VERB
cblr-1695	257	14	three	three	NUM
cblr-1695	257	15	other	other	ADJ
cblr-1695	257	16	ways	way	NOUN
cblr-1695	257	17	in	in	ADP
cblr-1695	257	18	which	which	PRON
cblr-1695	257	19	an	an	DET
cblr-1695	257	20	issuer	issuer	NOUN
cblr-1695	257	21	can	can	AUX
cblr-1695	257	22	lose	lose	VERB
cblr-1695	257	23	egc	egc	ADJ
cblr-1695	257	24	status	status	NOUN
cblr-1695	257	25	.	.	PUNCT
cblr-1695	258	1	see	see	VERB
cblr-1695	258	2	15	15	NUM
cblr-1695	258	3	u.s.c	u.s.c	ADJ
cblr-1695	258	4	.	.	PUNCT
cblr-1695	259	1	§	§	PROPN
cblr-1695	259	2	77b(a)(19	77b(a)(19	NUM
cblr-1695	259	3	)	)	PUNCT
cblr-1695	259	4	.	.	PUNCT
cblr-1695	260	1	80	80	NUM
cblr-1695	260	2	15	15	NUM
cblr-1695	260	3	u.s.c	u.s.c	NOUN
cblr-1695	260	4	.	.	PUNCT
cblr-1695	261	1	§	§	PROPN
cblr-1695	261	2	77f(e)(1	77f(e)(1	NUM
cblr-1695	261	3	)	)	PUNCT
cblr-1695	261	4	.	.	PUNCT
cblr-1695	262	1	81	81	NUM
cblr-1695	262	2	westenberg	westenberg	PROPN
cblr-1695	262	3	,	,	PUNCT
cblr-1695	262	4	supra	supra	PROPN
cblr-1695	262	5	note	note	PROPN
cblr-1695	262	6	21	21	NUM
cblr-1695	262	7	,	,	PUNCT
cblr-1695	262	8	§	§	PROPN
cblr-1695	262	9	16:5.4[a	16:5.4[a	NUM
cblr-1695	262	10	]	]	PUNCT
cblr-1695	262	11	;	;	PUNCT
cblr-1695	262	12	see	see	VERB
cblr-1695	262	13	also	also	ADV
cblr-1695	262	14	infra	infra	VERB
cblr-1695	262	15	notes	note	NOUN
cblr-1695	262	16	136–38	136–38	PROPN
cblr-1695	262	17	and	and	CCONJ
cblr-1695	262	18	accompanying	accompany	VERB
cblr-1695	262	19	text	text	NOUN
cblr-1695	262	20	.	.	PUNCT
cblr-1695	263	1	82	82	NUM
cblr-1695	263	2	westenberg	westenberg	PROPN
cblr-1695	263	3	,	,	PUNCT
cblr-1695	263	4	supra	supra	PROPN
cblr-1695	263	5	note	note	PROPN
cblr-1695	263	6	21	21	NUM
cblr-1695	263	7	,	,	PUNCT
cblr-1695	263	8	§	§	PROPN
cblr-1695	263	9	16:5.4[a	16:5.4[a	NUM
cblr-1695	263	10	]	]	PUNCT
cblr-1695	263	11	;	;	PUNCT
cblr-1695	263	12	see	see	VERB
cblr-1695	263	13	also	also	ADV
cblr-1695	263	14	supra	supra	PROPN
cblr-1695	263	15	notes	note	VERB
cblr-1695	263	16	59–64	59–64	NUM
cblr-1695	263	17	and	and	CCONJ
cblr-1695	263	18	accompanying	accompany	VERB
cblr-1695	263	19	text	text	NOUN
cblr-1695	263	20	for	for	ADP
cblr-1695	263	21	a	a	DET
cblr-1695	263	22	discussion	discussion	NOUN
cblr-1695	263	23	of	of	ADP
cblr-1695	263	24	mandatory	mandatory	ADJ
cblr-1695	263	25	disclosures	disclosure	NOUN
cblr-1695	263	26	.	.	PUNCT
cblr-1695	264	1	322	322	NUM
cblr-1695	264	2	columbia	columbia	PROPN
cblr-1695	264	3	business	business	NOUN
cblr-1695	264	4	law	law	PROPN
cblr-1695	264	5	review	review	NOUN
cblr-1695	264	6	[	[	X
cblr-1695	264	7	vol	vol	NOUN
cblr-1695	264	8	.	.	PUNCT
cblr-1695	264	9	2019	2019	NUM
cblr-1695	264	10	later	later	ADV
cblr-1695	264	11	than	than	ADP
cblr-1695	264	12	fifteen	fifteen	NUM
cblr-1695	264	13	days	day	NOUN
cblr-1695	264	14	before	before	ADP
cblr-1695	264	15	the	the	DET
cblr-1695	264	16	beginning	beginning	NOUN
cblr-1695	264	17	of	of	ADP
cblr-1695	264	18	a	a	DET
cblr-1695	264	19	road	road	NOUN
cblr-1695	264	20	show.83	show.83	VERB
cblr-1695	264	21	a	a	DET
cblr-1695	264	22	road	road	NOUN
cblr-1695	264	23	show	show	NOUN
cblr-1695	264	24	is	be	AUX
cblr-1695	264	25	a	a	DET
cblr-1695	264	26	presentation	presentation	NOUN
cblr-1695	264	27	of	of	ADP
cblr-1695	264	28	the	the	DET
cblr-1695	264	29	issuer	issuer	NOUN
cblr-1695	264	30	’s	’s	PART
cblr-1695	264	31	securities	security	NOUN
cblr-1695	264	32	to	to	ADP
cblr-1695	264	33	prospective	prospective	ADJ
cblr-1695	264	34	investors	investor	NOUN
cblr-1695	264	35	in	in	ADP
cblr-1695	264	36	order	order	NOUN
cblr-1695	264	37	to	to	PART
cblr-1695	264	38	ascertain	ascertain	VERB
cblr-1695	264	39	interest	interest	NOUN
cblr-1695	264	40	in	in	ADP
cblr-1695	264	41	purchasing	purchase	VERB
cblr-1695	264	42	such	such	ADJ
cblr-1695	264	43	securities.84	securities.84	PROPN
cblr-1695	264	44	the	the	DET
cblr-1695	264	45	main	main	ADJ
cblr-1695	264	46	advantage	advantage	NOUN
cblr-1695	264	47	of	of	ADP
cblr-1695	264	48	confidential	confidential	ADJ
cblr-1695	264	49	submission	submission	NOUN
cblr-1695	264	50	is	be	AUX
cblr-1695	264	51	“	"	PUNCT
cblr-1695	264	52	it	it	PRON
cblr-1695	264	53	enables	enable	VERB
cblr-1695	264	54	an	an	DET
cblr-1695	264	55	egc	egc	NOUN
cblr-1695	264	56	to	to	PART
cblr-1695	264	57	maintain	maintain	VERB
cblr-1695	264	58	its	its	PRON
cblr-1695	264	59	ipo	ipo	NOUN
cblr-1695	264	60	plans	plan	NOUN
cblr-1695	264	61	in	in	ADP
cblr-1695	264	62	secrecy	secrecy	NOUN
cblr-1695	264	63	and	and	CCONJ
cblr-1695	264	64	delay	delay	VERB
cblr-1695	264	65	disclosure	disclosure	NOUN
cblr-1695	264	66	of	of	ADP
cblr-1695	264	67	sensitive	sensitive	ADJ
cblr-1695	264	68	information	information	NOUN
cblr-1695	264	69	to	to	ADP
cblr-1695	264	70	competitors	competitor	NOUN
cblr-1695	264	71	,	,	PUNCT
cblr-1695	264	72	employees	employee	NOUN
cblr-1695	264	73	,	,	PUNCT
cblr-1695	264	74	and	and	CCONJ
cblr-1695	264	75	others	other	NOUN
cblr-1695	264	76	until	until	ADP
cblr-1695	264	77	much	much	ADV
cblr-1695	264	78	later	later	ADV
cblr-1695	264	79	in	in	ADP
cblr-1695	264	80	the	the	DET
cblr-1695	264	81	ipo	ipo	NOUN
cblr-1695	264	82	process	process	NOUN
cblr-1695	264	83	.	.	PUNCT
cblr-1695	265	1	”85	”85	VERB
cblr-1695	265	2	this	this	PRON
cblr-1695	265	3	also	also	ADV
cblr-1695	265	4	allows	allow	VERB
cblr-1695	265	5	an	an	DET
cblr-1695	265	6	egc	egc	NOUN
cblr-1695	265	7	to	to	PART
cblr-1695	265	8	confidentially	confidentially	ADV
cblr-1695	265	9	withdraw	withdraw	VERB
cblr-1695	265	10	a	a	DET
cblr-1695	265	11	submitted	submit	VERB
cblr-1695	265	12	form	form	NOUN
cblr-1695	265	13	s-1	s-1	NOUN
cblr-1695	265	14	without	without	ADP
cblr-1695	265	15	the	the	DET
cblr-1695	265	16	public	public	PROPN
cblr-1695	265	17	knowing	knowing	NOUN
cblr-1695	265	18	,	,	PUNCT
cblr-1695	265	19	if	if	SCONJ
cblr-1695	265	20	,	,	PUNCT
cblr-1695	265	21	for	for	ADP
cblr-1695	265	22	example	example	NOUN
cblr-1695	265	23	,	,	PUNCT
cblr-1695	265	24	the	the	DET
cblr-1695	265	25	sec	sec	PROPN
cblr-1695	265	26	raises	raise	VERB
cblr-1695	265	27	disclosure	disclosure	NOUN
cblr-1695	265	28	issues	issue	NOUN
cblr-1695	265	29	that	that	PRON
cblr-1695	265	30	the	the	DET
cblr-1695	265	31	company	company	NOUN
cblr-1695	265	32	prefers	prefer	VERB
cblr-1695	265	33	not	not	PART
cblr-1695	265	34	to	to	PART
cblr-1695	265	35	address	address	VERB
cblr-1695	265	36	or	or	CCONJ
cblr-1695	265	37	market	market	NOUN
cblr-1695	265	38	conditions	condition	NOUN
cblr-1695	265	39	take	take	VERB
cblr-1695	265	40	a	a	DET
cblr-1695	265	41	turn	turn	NOUN
cblr-1695	265	42	for	for	ADP
cblr-1695	265	43	the	the	DET
cblr-1695	265	44	worse.86	worse.86	NOUN
cblr-1695	265	45	by	by	ADP
cblr-1695	265	46	leveraging	leverage	VERB
cblr-1695	265	47	confidential	confidential	ADJ
cblr-1695	265	48	submission	submission	NOUN
cblr-1695	265	49	,	,	PUNCT
cblr-1695	265	50	an	an	DET
cblr-1695	265	51	egc	egc	NOUN
cblr-1695	265	52	thus	thus	ADV
cblr-1695	265	53	avoids	avoid	VERB
cblr-1695	265	54	the	the	DET
cblr-1695	265	55	public	public	ADJ
cblr-1695	265	56	embarrassment	embarrassment	NOUN
cblr-1695	265	57	that	that	PRON
cblr-1695	265	58	may	may	AUX
cblr-1695	265	59	result	result	VERB
cblr-1695	265	60	from	from	ADP
cblr-1695	265	61	sec	sec	PROPN
cblr-1695	265	62	challenges	challenge	NOUN
cblr-1695	265	63	or	or	CCONJ
cblr-1695	265	64	comments	comment	NOUN
cblr-1695	265	65	to	to	ADP
cblr-1695	265	66	the	the	DET
cblr-1695	265	67	company	company	NOUN
cblr-1695	265	68	’s	’s	PART
cblr-1695	265	69	registration	registration	NOUN
cblr-1695	265	70	statement	statement	NOUN
cblr-1695	265	71	as	as	ADV
cblr-1695	265	72	well	well	ADV
cblr-1695	265	73	as	as	ADP
cblr-1695	265	74	the	the	DET
cblr-1695	265	75	stigma	stigma	NOUN
cblr-1695	265	76	that	that	PRON
cblr-1695	265	77	is	be	AUX
cblr-1695	265	78	often	often	ADV
cblr-1695	265	79	associated	associate	VERB
cblr-1695	265	80	with	with	ADP
cblr-1695	265	81	withdrawing	withdraw	VERB
cblr-1695	265	82	a	a	DET
cblr-1695	265	83	publicly	publicly	ADV
cblr-1695	265	84	filed	file	VERB
cblr-1695	265	85	form	form	NOUN
cblr-1695	265	86	s-1.87	s-1.87	NOUN
cblr-1695	265	87	the	the	DET
cblr-1695	265	88	main	main	ADJ
cblr-1695	265	89	disadvantage	disadvantage	NOUN
cblr-1695	265	90	of	of	ADP
cblr-1695	265	91	confidential	confidential	ADJ
cblr-1695	265	92	review	review	NOUN
cblr-1695	265	93	is	be	AUX
cblr-1695	265	94	that	that	SCONJ
cblr-1695	265	95	it	it	PRON
cblr-1695	265	96	delays	delay	VERB
cblr-1695	265	97	any	any	DET
cblr-1695	265	98	potential	potential	ADJ
cblr-1695	265	99	benefits	benefit	NOUN
cblr-1695	265	100	of	of	ADP
cblr-1695	265	101	publicly	publicly	ADV
cblr-1695	265	102	filing	filing	NOUN
cblr-1695	265	103	,	,	PUNCT
cblr-1695	265	104	such	such	ADJ
cblr-1695	265	105	as	as	ADP
cblr-1695	265	106	favorable	favorable	ADJ
cblr-1695	265	107	publicity	publicity	NOUN
cblr-1695	265	108	or	or	CCONJ
cblr-1695	265	109	the	the	DET
cblr-1695	265	110	attraction	attraction	NOUN
cblr-1695	265	111	of	of	ADP
cblr-1695	265	112	potential	potential	ADJ
cblr-1695	265	113	acquirers.88	acquirers.88	NOUN
cblr-1695	265	114	in	in	ADP
cblr-1695	265	115	addition	addition	NOUN
cblr-1695	265	116	,	,	PUNCT
cblr-1695	265	117	institutional	institutional	ADJ
cblr-1695	265	118	investors	investor	NOUN
cblr-1695	265	119	may	may	AUX
cblr-1695	265	120	83	83	NUM
cblr-1695	265	121	see	see	VERB
cblr-1695	265	122	15	15	NUM
cblr-1695	265	123	u.s.c	u.s.c	ADJ
cblr-1695	265	124	.	.	PUNCT
cblr-1695	266	1	§	§	PROPN
cblr-1695	266	2	77f(e)(1	77f(e)(1	NUM
cblr-1695	266	3	)	)	PUNCT
cblr-1695	266	4	.	.	PUNCT
cblr-1695	267	1	when	when	SCONJ
cblr-1695	267	2	the	the	DET
cblr-1695	267	3	jobs	job	NOUN
cblr-1695	267	4	act	act	NOUN
cblr-1695	267	5	was	be	AUX
cblr-1695	267	6	initially	initially	ADV
cblr-1695	267	7	passed	pass	VERB
cblr-1695	267	8	in	in	ADP
cblr-1695	267	9	2012	2012	NUM
cblr-1695	267	10	,	,	PUNCT
cblr-1695	267	11	issuers	issuer	NOUN
cblr-1695	267	12	were	be	AUX
cblr-1695	267	13	required	require	VERB
cblr-1695	267	14	to	to	PART
cblr-1695	267	15	publicly	publicly	ADV
cblr-1695	267	16	release	release	VERB
cblr-1695	267	17	the	the	DET
cblr-1695	267	18	registration	registration	NOUN
cblr-1695	267	19	statement	statement	NOUN
cblr-1695	267	20	twenty	twenty	NUM
cblr-1695	267	21	-	-	PUNCT
cblr-1695	267	22	one	one	NUM
cblr-1695	267	23	days	day	NOUN
cblr-1695	267	24	before	before	ADP
cblr-1695	267	25	a	a	DET
cblr-1695	267	26	road	road	NOUN
cblr-1695	267	27	show	show	NOUN
cblr-1695	267	28	.	.	PUNCT
cblr-1695	268	1	see	see	VERB
cblr-1695	268	2	coffee	coffee	NOUN
cblr-1695	268	3	et	et	PROPN
cblr-1695	268	4	al	al	PROPN
cblr-1695	268	5	.	.	PROPN
cblr-1695	268	6	,	,	PUNCT
cblr-1695	268	7	supra	supra	PROPN
cblr-1695	268	8	note	note	NOUN
cblr-1695	268	9	75	75	NUM
cblr-1695	268	10	,	,	PUNCT
cblr-1695	268	11	at	at	ADP
cblr-1695	268	12	146	146	NUM
cblr-1695	268	13	.	.	PUNCT
cblr-1695	269	1	however	however	ADV
cblr-1695	269	2	,	,	PUNCT
cblr-1695	269	3	this	this	PRON
cblr-1695	269	4	was	be	AUX
cblr-1695	269	5	reduced	reduce	VERB
cblr-1695	269	6	to	to	ADP
cblr-1695	269	7	fifteen	fifteen	NUM
cblr-1695	269	8	days	day	NOUN
cblr-1695	269	9	in	in	ADP
cblr-1695	269	10	late	late	ADJ
cblr-1695	269	11	2015	2015	NUM
cblr-1695	269	12	by	by	ADP
cblr-1695	269	13	the	the	DET
cblr-1695	269	14	highway	highway	NOUN
cblr-1695	269	15	transportation	transportation	NOUN
cblr-1695	269	16	bill	bill	NOUN
cblr-1695	269	17	,	,	PUNCT
cblr-1695	269	18	also	also	ADV
cblr-1695	269	19	known	know	VERB
cblr-1695	269	20	as	as	ADP
cblr-1695	269	21	the	the	DET
cblr-1695	269	22	fast	fast	ADJ
cblr-1695	269	23	act	act	NOUN
cblr-1695	269	24	.	.	PUNCT
cblr-1695	270	1	see	see	VERB
cblr-1695	270	2	changes	change	NOUN
cblr-1695	270	3	to	to	ADP
cblr-1695	270	4	the	the	DET
cblr-1695	270	5	jobs	job	NOUN
cblr-1695	270	6	act	act	NOUN
cblr-1695	270	7	and	and	CCONJ
cblr-1695	270	8	sec	sec	PROPN
cblr-1695	270	9	disclosure	disclosure	NOUN
cblr-1695	270	10	requirements	requirement	NOUN
cblr-1695	270	11	,	,	PUNCT
cblr-1695	270	12	shearman	shearman	NOUN
cblr-1695	270	13	&	&	CCONJ
cblr-1695	270	14	sterling	sterling	PROPN
cblr-1695	270	15	llp	llp	PROPN
cblr-1695	270	16	(	(	PUNCT
cblr-1695	270	17	dec	dec	PROPN
cblr-1695	270	18	.	.	PROPN
cblr-1695	270	19	7	7	NUM
cblr-1695	270	20	,	,	PUNCT
cblr-1695	270	21	2015	2015	NUM
cblr-1695	270	22	)	)	PUNCT
cblr-1695	270	23	,	,	PUNCT
cblr-1695	270	24	http://www.shearman.com/~/media/files/newsinsights/publications	http://www.shearman.com/~/media/files/newsinsights/publication	VERB
cblr-1695	270	25	/2015/12	/2015/12	PUNCT
cblr-1695	270	26	/	/	SYM
cblr-1695	270	27	changes	change	NOUN
cblr-1695	270	28	-	-	PUNCT
cblr-1695	270	29	to	to	ADP
cblr-1695	270	30	-	-	PUNCT
cblr-1695	270	31	the	the	DET
cblr-1695	270	32	-	-	PUNCT
cblr-1695	270	33	jobs	job	NOUN
cblr-1695	270	34	-	-	PUNCT
cblr-1695	270	35	act	act	NOUN
cblr-1695	270	36	-	-	PUNCT
cblr-1695	270	37	and	and	CCONJ
cblr-1695	270	38	-	-	PUNCT
cblr-1695	270	39	sec	sec	NOUN
cblr-1695	270	40	-	-	PUNCT
cblr-1695	270	41	disclosure	disclosure	NOUN
cblr-1695	270	42	-	-	PUNCT
cblr-1695	270	43	requirementscm-120715.pdf	requirementscm-120715.pdf	NOUN
cblr-1695	271	1	[	[	X
cblr-1695	271	2	https://perma.cc/tnt5-mnsa	https://perma.cc/tnt5-mnsa	PROPN
cblr-1695	271	3	]	]	X
cblr-1695	271	4	.	.	PUNCT
cblr-1695	272	1	84	84	NUM
cblr-1695	272	2	see	see	VERB
cblr-1695	272	3	steinberg	steinberg	PROPN
cblr-1695	272	4	,	,	PUNCT
cblr-1695	272	5	supra	supra	PROPN
cblr-1695	272	6	note	note	PROPN
cblr-1695	272	7	40	40	NUM
cblr-1695	272	8	,	,	PUNCT
cblr-1695	272	9	at	at	ADP
cblr-1695	272	10	142	142	NUM
cblr-1695	272	11	.	.	PUNCT
cblr-1695	272	12	85	85	NUM
cblr-1695	272	13	westenberg	westenberg	NOUN
cblr-1695	272	14	,	,	PUNCT
cblr-1695	272	15	supra	supra	PROPN
cblr-1695	272	16	note	note	PROPN
cblr-1695	272	17	21	21	NUM
cblr-1695	272	18	,	,	PUNCT
cblr-1695	272	19	§	§	PROPN
cblr-1695	272	20	16:5.4[c	16:5.4[c	NUM
cblr-1695	272	21	]	]	X
cblr-1695	272	22	.	.	PUNCT
cblr-1695	273	1	86	86	NUM
cblr-1695	273	2	see	see	VERB
cblr-1695	273	3	i	i	PRON
cblr-1695	273	4	d.	d.	PROPN
cblr-1695	273	5	87	87	NUM
cblr-1695	273	6	see	see	VERB
cblr-1695	273	7	coffee	coffee	NOUN
cblr-1695	273	8	et	et	PROPN
cblr-1695	273	9	al	al	PROPN
cblr-1695	273	10	.	.	PROPN
cblr-1695	273	11	,	,	PUNCT
cblr-1695	273	12	supra	supra	PROPN
cblr-1695	273	13	note	note	NOUN
cblr-1695	273	14	75	75	NUM
cblr-1695	273	15	,	,	PUNCT
cblr-1695	273	16	at	at	ADP
cblr-1695	273	17	146	146	NUM
cblr-1695	273	18	;	;	PUNCT
cblr-1695	273	19	westenberg	westenberg	PROPN
cblr-1695	273	20	,	,	PUNCT
cblr-1695	273	21	supra	supra	PROPN
cblr-1695	273	22	note	note	PROPN
cblr-1695	273	23	21	21	NUM
cblr-1695	273	24	,	,	PUNCT
cblr-1695	273	25	at	at	ADP
cblr-1695	273	26	§	§	PROPN
cblr-1695	273	27	16:5.4[c	16:5.4[c	NUM
cblr-1695	273	28	]	]	X
cblr-1695	273	29	.	.	PUNCT
cblr-1695	274	1	88	88	NUM
cblr-1695	274	2	westenberg	westenberg	NOUN
cblr-1695	274	3	,	,	PUNCT
cblr-1695	274	4	supra	supra	PROPN
cblr-1695	274	5	note	note	PROPN
cblr-1695	274	6	21	21	NUM
cblr-1695	274	7	,	,	PUNCT
cblr-1695	274	8	§	§	PROPN
cblr-1695	274	9	16:5.4[c	16:5.4[c	NUM
cblr-1695	274	10	]	]	PUNCT
cblr-1695	274	11	.	.	PUNCT
cblr-1695	275	1	no	no	INTJ
cblr-1695	275	2	.	.	PUNCT
cblr-1695	276	1	1:305	1:305	NUM
cblr-1695	276	2	]	]	X
cblr-1695	276	3	going	go	VERB
cblr-1695	276	4	public	public	ADJ
cblr-1695	276	5	secretly	secretly	ADV
cblr-1695	276	6	323	323	NUM
cblr-1695	276	7	be	be	VERB
cblr-1695	276	8	unwilling	unwilling	ADJ
cblr-1695	276	9	to	to	PART
cblr-1695	276	10	partake	partake	VERB
cblr-1695	276	11	in	in	ADP
cblr-1695	276	12	“	"	PUNCT
cblr-1695	276	13	test	test	VERB
cblr-1695	276	14	-	-	PUNCT
cblr-1695	276	15	the	the	DET
cblr-1695	276	16	-	-	PUNCT
cblr-1695	276	17	waters	water	NOUN
cblr-1695	276	18	”	"	PUNCT
cblr-1695	276	19	meetings89	meetings89	NOUN
cblr-1695	276	20	until	until	SCONJ
cblr-1695	276	21	the	the	DET
cblr-1695	276	22	form	form	NOUN
cblr-1695	276	23	s-1	s-1	NOUN
cblr-1695	276	24	is	be	AUX
cblr-1695	276	25	publicly	publicly	ADV
cblr-1695	276	26	filed.90	filed.90	ADJ
cblr-1695	276	27	in	in	ADP
cblr-1695	276	28	addition	addition	NOUN
cblr-1695	276	29	to	to	ADP
cblr-1695	276	30	the	the	DET
cblr-1695	276	31	confidential	confidential	ADJ
cblr-1695	276	32	filing	filing	NOUN
cblr-1695	276	33	of	of	ADP
cblr-1695	276	34	the	the	DET
cblr-1695	276	35	form	form	NOUN
cblr-1695	276	36	s-1	s-1	NOUN
cblr-1695	276	37	,	,	PUNCT
cblr-1695	276	38	the	the	DET
cblr-1695	276	39	jobs	job	NOUN
cblr-1695	276	40	act	act	VERB
cblr-1695	276	41	also	also	ADV
cblr-1695	276	42	grants	grant	VERB
cblr-1695	276	43	several	several	ADJ
cblr-1695	276	44	additional	additional	ADJ
cblr-1695	276	45	benefits	benefit	NOUN
cblr-1695	276	46	to	to	PART
cblr-1695	276	47	egcs	egcs	VERB
cblr-1695	276	48	.	.	PUNCT
cblr-1695	277	1	these	these	PRON
cblr-1695	277	2	include	include	VERB
cblr-1695	277	3	,	,	PUNCT
cblr-1695	277	4	inter	inter	ADJ
cblr-1695	277	5	alia,91	alia,91	NOUN
cblr-1695	277	6	allowing	allow	VERB
cblr-1695	277	7	egcs	egcs	NOUN
cblr-1695	277	8	to	to	PART
cblr-1695	277	9	partake	partake	VERB
cblr-1695	277	10	in	in	ADP
cblr-1695	277	11	“	"	PUNCT
cblr-1695	277	12	testthe	testthe	ADJ
cblr-1695	277	13	-	-	PUNCT
cblr-1695	277	14	waters	water	NOUN
cblr-1695	277	15	”	"	PUNCT
cblr-1695	277	16	communications	communication	NOUN
cblr-1695	277	17	with	with	ADP
cblr-1695	277	18	certain	certain	ADJ
cblr-1695	277	19	potential	potential	ADJ
cblr-1695	277	20	investors	investor	NOUN
cblr-1695	277	21	earlier	early	ADV
cblr-1695	277	22	than	than	ADP
cblr-1695	277	23	usually	usually	ADV
cblr-1695	277	24	allowed,92	allowed,92	ADJ
cblr-1695	277	25	requiring	require	VERB
cblr-1695	277	26	only	only	ADV
cblr-1695	277	27	two	two	NUM
cblr-1695	277	28	years	year	NOUN
cblr-1695	277	29	of	of	ADP
cblr-1695	277	30	audited	audit	VERB
cblr-1695	277	31	financial	financial	ADJ
cblr-1695	277	32	statements	statement	NOUN
cblr-1695	277	33	rather	rather	ADV
cblr-1695	277	34	than	than	ADP
cblr-1695	277	35	three,93	three,93	NOUN
cblr-1695	277	36	and	and	CCONJ
cblr-1695	277	37	exempting	exempt	VERB
cblr-1695	277	38	egcs	egcs	NOUN
cblr-1695	277	39	from	from	ADP
cblr-1695	277	40	various	various	ADJ
cblr-1695	277	41	corporate	corporate	ADJ
cblr-1695	277	42	governance	governance	NOUN
cblr-1695	277	43	provisions	provision	NOUN
cblr-1695	277	44	that	that	PRON
cblr-1695	277	45	apply	apply	VERB
cblr-1695	277	46	to	to	ADP
cblr-1695	277	47	other	other	ADJ
cblr-1695	277	48	public	public	ADJ
cblr-1695	277	49	companies	company	NOUN
cblr-1695	277	50	,	,	PUNCT
cblr-1695	277	51	such	such	ADJ
cblr-1695	277	52	as	as	ADP
cblr-1695	277	53	“	"	PUNCT
cblr-1695	277	54	sayon	sayon	NOUN
cblr-1695	277	55	-	-	PUNCT
cblr-1695	277	56	pay	pay	NOUN
cblr-1695	277	57	”	"	PUNCT
cblr-1695	277	58	votes	vote	NOUN
cblr-1695	277	59	by	by	ADP
cblr-1695	277	60	shareholders	shareholder	NOUN
cblr-1695	277	61	required	require	VERB
cblr-1695	277	62	by	by	ADP
cblr-1695	277	63	dodd	dodd	PROPN
cblr-1695	277	64	-	-	PUNCT
cblr-1695	277	65	frank.94	frank.94	PROPN
cblr-1695	277	66	however	however	ADV
cblr-1695	277	67	,	,	PUNCT
cblr-1695	277	68	many	many	ADJ
cblr-1695	277	69	of	of	ADP
cblr-1695	277	70	these	these	DET
cblr-1695	277	71	other	other	ADJ
cblr-1695	277	72	benefits	benefit	NOUN
cblr-1695	277	73	have	have	AUX
cblr-1695	277	74	not	not	PART
cblr-1695	277	75	been	be	AUX
cblr-1695	277	76	widely	widely	ADV
cblr-1695	277	77	utilized	utilize	VERB
cblr-1695	277	78	by	by	ADP
cblr-1695	277	79	eligible	eligible	ADJ
cblr-1695	277	80	companies	company	NOUN
cblr-1695	277	81	,	,	PUNCT
cblr-1695	277	82	either	either	CCONJ
cblr-1695	277	83	because	because	SCONJ
cblr-1695	277	84	the	the	DET
cblr-1695	277	85	financial	financial	ADJ
cblr-1695	277	86	benefit	benefit	NOUN
cblr-1695	277	87	is	be	AUX
cblr-1695	277	88	de	de	X
cblr-1695	277	89	minimis	minimis	NOUN
cblr-1695	277	90	or	or	CCONJ
cblr-1695	277	91	because	because	SCONJ
cblr-1695	277	92	the	the	DET
cblr-1695	277	93	market	market	NOUN
cblr-1695	277	94	demands	demand	VERB
cblr-1695	277	95	greater	great	ADJ
cblr-1695	277	96	disclosure.95	disclosure.95	NOUN
cblr-1695	277	97	however	however	ADV
cblr-1695	277	98	,	,	PUNCT
cblr-1695	277	99	,	,	PUNCT
cblr-1695	277	100	“	"	PUNCT
cblr-1695	277	101	[	[	X
cblr-1695	277	102	t]he	t]he	ADV
cblr-1695	277	103	one	one	NUM
cblr-1695	277	104	provision	provision	NOUN
cblr-1695	277	105	in	in	ADP
cblr-1695	277	106	the	the	DET
cblr-1695	277	107	jobs	job	NOUN
cblr-1695	277	108	act	act	NOUN
cblr-1695	277	109	that	that	PRON
cblr-1695	277	110	has	have	AUX
cblr-1695	277	111	been	be	AUX
cblr-1695	277	112	widely	widely	ADV
cblr-1695	277	113	adopted	adopt	VERB
cblr-1695	277	114	is	be	AUX
cblr-1695	277	115	confidential	confidential	ADJ
cblr-1695	277	116	review	review	NOUN
cblr-1695	277	117	.	.	PUNCT
cblr-1695	278	1	”96	”96	ADV
cblr-1695	278	2	nonetheless	nonetheless	ADV
cblr-1695	278	3	,	,	PUNCT
cblr-1695	278	4	although	although	SCONJ
cblr-1695	278	5	eligible	eligible	ADJ
cblr-1695	278	6	companies	company	NOUN
cblr-1695	278	7	have	have	AUX
cblr-1695	278	8	taken	take	VERB
cblr-1695	278	9	advantage	advantage	NOUN
cblr-1695	278	10	of	of	ADP
cblr-1695	278	11	the	the	DET
cblr-1695	278	12	confidential	confidential	ADJ
cblr-1695	278	13	filing	filing	NOUN
cblr-1695	278	14	benefit	benefit	NOUN
cblr-1695	278	15	,	,	PUNCT
cblr-1695	278	16	it	it	PRON
cblr-1695	278	17	is	be	AUX
cblr-1695	278	18	uncertain	uncertain	ADJ
cblr-1695	278	19	whether	whether	SCONJ
cblr-1695	278	20	the	the	DET
cblr-1695	278	21	jobs	job	NOUN
cblr-1695	278	22	act	act	NOUN
cblr-1695	278	23	has	have	AUX
cblr-1695	278	24	actually	actually	ADV
cblr-1695	278	25	achieved	achieve	VERB
cblr-1695	278	26	its	its	PRON
cblr-1695	278	27	stated	state	VERB
cblr-1695	278	28	goal	goal	NOUN
cblr-1695	278	29	of	of	ADP
cblr-1695	278	30	increasing	increase	VERB
cblr-1695	278	31	access	access	NOUN
cblr-1695	278	32	to	to	ADP
cblr-1695	278	33	the	the	DET
cblr-1695	278	34	capital	capital	NOUN
cblr-1695	278	35	markets	market	NOUN
cblr-1695	278	36	and	and	CCONJ
cblr-1695	278	37	,	,	PUNCT
cblr-1695	278	38	in	in	ADP
cblr-1695	278	39	turn	turn	NOUN
cblr-1695	278	40	,	,	PUNCT
cblr-1695	278	41	increasing	increase	VERB
cblr-1695	278	42	the	the	DET
cblr-1695	278	43	number	number	NOUN
cblr-1695	278	44	of	of	ADP
cblr-1695	278	45	ipos.97	ipos.97	NOUN
cblr-1695	278	46	89	89	NUM
cblr-1695	278	47	a	a	DET
cblr-1695	278	48	“	"	PUNCT
cblr-1695	278	49	test	test	NOUN
cblr-1695	278	50	-	-	PUNCT
cblr-1695	278	51	the	the	DET
cblr-1695	278	52	-	-	PUNCT
cblr-1695	278	53	waters	water	NOUN
cblr-1695	278	54	”	"	PUNCT
cblr-1695	278	55	meeting	meeting	NOUN
cblr-1695	278	56	allows	allow	VERB
cblr-1695	278	57	an	an	DET
cblr-1695	278	58	egc	egc	NOUN
cblr-1695	278	59	to	to	PART
cblr-1695	278	60	meet	meet	VERB
cblr-1695	278	61	with	with	ADP
cblr-1695	278	62	institutional	institutional	ADJ
cblr-1695	278	63	investors	investor	NOUN
cblr-1695	278	64	and	and	CCONJ
cblr-1695	278	65	other	other	ADJ
cblr-1695	278	66	accredited	accredit	VERB
cblr-1695	278	67	investors	investor	NOUN
cblr-1695	278	68	before	before	ADP
cblr-1695	278	69	or	or	CCONJ
cblr-1695	278	70	after	after	ADP
cblr-1695	278	71	confidentially	confidentially	ADV
cblr-1695	278	72	filing	filing	NOUN
cblr-1695	278	73	or	or	CCONJ
cblr-1695	278	74	publicly	publicly	ADV
cblr-1695	278	75	filing	file	VERB
cblr-1695	278	76	its	its	PRON
cblr-1695	278	77	registration	registration	NOUN
cblr-1695	278	78	statement	statement	NOUN
cblr-1695	278	79	in	in	ADP
cblr-1695	278	80	order	order	NOUN
cblr-1695	278	81	to	to	PART
cblr-1695	278	82	gauge	gauge	VERB
cblr-1695	278	83	interest	interest	NOUN
cblr-1695	278	84	in	in	ADP
cblr-1695	278	85	its	its	PRON
cblr-1695	278	86	upcoming	upcoming	ADJ
cblr-1695	278	87	offering	offering	NOUN
cblr-1695	278	88	.	.	PUNCT
cblr-1695	279	1	see	see	VERB
cblr-1695	279	2	latham	latham	PROPN
cblr-1695	279	3	&	&	CCONJ
cblr-1695	279	4	watkins	watkins	PROPN
cblr-1695	279	5	llp	llp	PROPN
cblr-1695	279	6	,	,	PUNCT
cblr-1695	279	7	supra	supra	PROPN
cblr-1695	279	8	note	note	PROPN
cblr-1695	279	9	69	69	NUM
cblr-1695	279	10	,	,	PUNCT
cblr-1695	279	11	at	at	ADP
cblr-1695	279	12	12	12	NUM
cblr-1695	279	13	;	;	PUNCT
cblr-1695	279	14	see	see	VERB
cblr-1695	279	15	also	also	ADV
cblr-1695	279	16	infra	infra	NOUN
cblr-1695	279	17	note	note	VERB
cblr-1695	279	18	92	92	NUM
cblr-1695	279	19	and	and	CCONJ
cblr-1695	279	20	accompanying	accompany	VERB
cblr-1695	279	21	text	text	NOUN
cblr-1695	279	22	.	.	PUNCT
cblr-1695	280	1	90	90	NUM
cblr-1695	280	2	westenberg	westenberg	NOUN
cblr-1695	280	3	,	,	PUNCT
cblr-1695	280	4	supra	supra	PROPN
cblr-1695	280	5	note	note	PROPN
cblr-1695	280	6	21	21	NUM
cblr-1695	280	7	,	,	PUNCT
cblr-1695	280	8	§	§	PROPN
cblr-1695	280	9	16:5.4[c	16:5.4[c	NUM
cblr-1695	280	10	]	]	PUNCT
cblr-1695	280	11	.	.	PUNCT
cblr-1695	281	1	91	91	NUM
cblr-1695	281	2	for	for	ADP
cblr-1695	281	3	a	a	DET
cblr-1695	281	4	more	more	ADV
cblr-1695	281	5	comprehensive	comprehensive	ADJ
cblr-1695	281	6	discussion	discussion	NOUN
cblr-1695	281	7	of	of	ADP
cblr-1695	281	8	the	the	DET
cblr-1695	281	9	additional	additional	ADJ
cblr-1695	281	10	benefits	benefit	NOUN
cblr-1695	281	11	egcs	egcs	X
cblr-1695	281	12	receive	receive	VERB
cblr-1695	281	13	under	under	ADP
cblr-1695	281	14	the	the	DET
cblr-1695	281	15	jobs	job	NOUN
cblr-1695	281	16	act	act	PROPN
cblr-1695	281	17	,	,	PUNCT
cblr-1695	281	18	see	see	VERB
cblr-1695	281	19	coffee	coffee	NOUN
cblr-1695	281	20	et	et	PROPN
cblr-1695	281	21	al	al	PROPN
cblr-1695	281	22	.	.	PROPN
cblr-1695	281	23	,	,	PUNCT
cblr-1695	281	24	supra	supra	PROPN
cblr-1695	281	25	note	note	NOUN
cblr-1695	281	26	75	75	NUM
cblr-1695	281	27	,	,	PUNCT
cblr-1695	281	28	at	at	ADP
cblr-1695	281	29	146–50	146–50	NOUN
cblr-1695	281	30	.	.	PUNCT
cblr-1695	282	1	92	92	NUM
cblr-1695	282	2	jumpstart	jumpstart	VERB
cblr-1695	282	3	our	our	PRON
cblr-1695	282	4	business	business	NOUN
cblr-1695	282	5	startups	startup	NOUN
cblr-1695	282	6	act	act	VERB
cblr-1695	282	7	§	§	PROPN
cblr-1695	282	8	105(d	105(d	PROPN
cblr-1695	282	9	)	)	PUNCT
cblr-1695	282	10	,	,	PUNCT
cblr-1695	282	11	15	15	NUM
cblr-1695	282	12	u.s.c	u.s.c	ADJ
cblr-1695	282	13	.	.	PUNCT
cblr-1695	283	1	§	§	PROPN
cblr-1695	283	2	77e(d	77e(d	NUM
cblr-1695	283	3	)	)	PUNCT
cblr-1695	283	4	(	(	PUNCT
cblr-1695	283	5	2012	2012	NUM
cblr-1695	283	6	)	)	PUNCT
cblr-1695	283	7	.	.	PUNCT
cblr-1695	284	1	93	93	NUM
cblr-1695	284	2	15	15	NUM
cblr-1695	284	3	u.s.c	u.s.c	NOUN
cblr-1695	284	4	.	.	PUNCT
cblr-1695	285	1	§	§	PROPN
cblr-1695	285	2	77g(a)(2	77g(a)(2	NOUN
cblr-1695	285	3	)	)	PUNCT
cblr-1695	285	4	.	.	PUNCT
cblr-1695	286	1	94	94	NUM
cblr-1695	286	2	securities	security	NOUN
cblr-1695	286	3	exchange	exchange	PROPN
cblr-1695	286	4	act	act	NOUN
cblr-1695	286	5	of	of	ADP
cblr-1695	286	6	1934	1934	NUM
cblr-1695	286	7	§	§	PROPN
cblr-1695	286	8	14a(e)(2	14a(e)(2	NOUN
cblr-1695	286	9	)	)	PUNCT
cblr-1695	286	10	,	,	PUNCT
cblr-1695	286	11	15	15	NUM
cblr-1695	286	12	u.s.c	u.s.c	ADJ
cblr-1695	286	13	.	.	PUNCT
cblr-1695	287	1	§	§	PROPN
cblr-1695	287	2	78n-1(e)(2	78n-1(e)(2	NUM
cblr-1695	287	3	)	)	PUNCT
cblr-1695	287	4	(	(	PUNCT
cblr-1695	287	5	2012	2012	NUM
cblr-1695	287	6	)	)	PUNCT
cblr-1695	287	7	;	;	PUNCT
cblr-1695	287	8	see	see	VERB
cblr-1695	287	9	also	also	ADV
cblr-1695	287	10	coffee	coffee	NOUN
cblr-1695	287	11	et	et	PROPN
cblr-1695	287	12	al	al	PROPN
cblr-1695	287	13	.	.	PROPN
cblr-1695	287	14	,	,	PUNCT
cblr-1695	287	15	supra	supra	PROPN
cblr-1695	287	16	note	note	NOUN
cblr-1695	287	17	75	75	NUM
cblr-1695	287	18	,	,	PUNCT
cblr-1695	287	19	at	at	ADP
cblr-1695	287	20	147	147	NUM
cblr-1695	287	21	.	.	PUNCT
cblr-1695	288	1	95	95	NUM
cblr-1695	288	2	see	see	VERB
cblr-1695	288	3	coffee	coffee	NOUN
cblr-1695	288	4	et	et	PROPN
cblr-1695	288	5	al	al	PROPN
cblr-1695	288	6	.	.	PROPN
cblr-1695	288	7	,	,	PUNCT
cblr-1695	288	8	supra	supra	PROPN
cblr-1695	288	9	note	note	NOUN
cblr-1695	288	10	75	75	NUM
cblr-1695	288	11	,	,	PUNCT
cblr-1695	288	12	at	at	ADP
cblr-1695	288	13	148–49	148–49	NUM
cblr-1695	288	14	.	.	PUNCT
cblr-1695	289	1	for	for	ADP
cblr-1695	289	2	example	example	NOUN
cblr-1695	289	3	,	,	PUNCT
cblr-1695	289	4	many	many	ADJ
cblr-1695	289	5	egcs	egcs	NOUN
cblr-1695	289	6	include	include	VERB
cblr-1695	289	7	three	three	NUM
cblr-1695	289	8	years	year	NOUN
cblr-1695	289	9	of	of	ADP
cblr-1695	289	10	financial	financial	ADJ
cblr-1695	289	11	statements	statement	NOUN
cblr-1695	289	12	,	,	PUNCT
cblr-1695	289	13	despite	despite	SCONJ
cblr-1695	289	14	the	the	DET
cblr-1695	289	15	jobs	job	NOUN
cblr-1695	289	16	act	act	VERB
cblr-1695	289	17	only	only	ADV
cblr-1695	289	18	requiring	require	VERB
cblr-1695	289	19	them	they	PRON
cblr-1695	289	20	to	to	PART
cblr-1695	289	21	provide	provide	VERB
cblr-1695	289	22	two	two	NUM
cblr-1695	289	23	,	,	PUNCT
cblr-1695	289	24	because	because	SCONJ
cblr-1695	289	25	the	the	DET
cblr-1695	289	26	market	market	NOUN
cblr-1695	289	27	demands	demand	VERB
cblr-1695	289	28	this	this	DET
cblr-1695	289	29	additional	additional	ADJ
cblr-1695	289	30	information	information	NOUN
cblr-1695	289	31	.	.	PUNCT
cblr-1695	290	1	see	see	VERB
cblr-1695	290	2	i	i	PRON
cblr-1695	290	3	d.	d.	PROPN
cblr-1695	290	4	96	96	NUM
cblr-1695	291	1	i	i	PRON
cblr-1695	291	2	d.	d.	PROPN
cblr-1695	291	3	at	at	ADP
cblr-1695	291	4	149	149	NUM
cblr-1695	291	5	.	.	PUNCT
cblr-1695	292	1	97	97	NUM
cblr-1695	292	2	several	several	ADJ
cblr-1695	292	3	empirical	empirical	ADJ
cblr-1695	292	4	studies	study	NOUN
cblr-1695	292	5	have	have	AUX
cblr-1695	292	6	been	be	AUX
cblr-1695	292	7	conducted	conduct	VERB
cblr-1695	292	8	to	to	PART
cblr-1695	292	9	determine	determine	VERB
cblr-1695	292	10	the	the	DET
cblr-1695	292	11	effect	effect	NOUN
cblr-1695	292	12	of	of	ADP
cblr-1695	292	13	the	the	DET
cblr-1695	292	14	jobs	job	NOUN
cblr-1695	292	15	act	act	VERB
cblr-1695	292	16	on	on	ADP
cblr-1695	292	17	ipo	ipo	NOUN
cblr-1695	292	18	activity	activity	NOUN
cblr-1695	292	19	.	.	PUNCT
cblr-1695	293	1	see	see	VERB
cblr-1695	293	2	discussion	discussion	NOUN
cblr-1695	293	3	infra	infra	NOUN
cblr-1695	293	4	section	section	NOUN
cblr-1695	293	5	iii.a	iii.a	PROPN
cblr-1695	293	6	.	.	NOUN
cblr-1695	294	1	324	324	NUM
cblr-1695	294	2	columbia	columbia	PROPN
cblr-1695	294	3	business	business	NOUN
cblr-1695	294	4	law	law	PROPN
cblr-1695	294	5	review	review	NOUN
cblr-1695	295	1	[	[	X
cblr-1695	295	2	vol	vol	NOUN
cblr-1695	295	3	.	.	PUNCT
cblr-1695	295	4	2019	2019	NUM
cblr-1695	295	5	e.	e.	PROPN
cblr-1695	295	6	the	the	DET
cblr-1695	295	7	sec	sec	PROPN
cblr-1695	295	8	’s	’s	PART
cblr-1695	295	9	july	july	PROPN
cblr-1695	295	10	2017	2017	NUM
cblr-1695	295	11	change	change	NOUN
cblr-1695	295	12	on	on	ADP
cblr-1695	295	13	may	may	PROPN
cblr-1695	295	14	2	2	NUM
cblr-1695	295	15	,	,	PUNCT
cblr-1695	295	16	2017	2017	NUM
cblr-1695	295	17	,	,	PUNCT
cblr-1695	295	18	the	the	DET
cblr-1695	295	19	senate	senate	PROPN
cblr-1695	295	20	voted	vote	VERB
cblr-1695	295	21	to	to	PART
cblr-1695	295	22	confirm	confirm	VERB
cblr-1695	295	23	president	president	PROPN
cblr-1695	295	24	trump	trump	VERB
cblr-1695	295	25	’s	’s	PART
cblr-1695	295	26	nominee	nominee	NOUN
cblr-1695	295	27	for	for	ADP
cblr-1695	295	28	sec	sec	PROPN
cblr-1695	295	29	chairman	chairman	NOUN
cblr-1695	295	30	,	,	PUNCT
cblr-1695	295	31	jay	jay	PROPN
cblr-1695	295	32	clayton	clayton	PROPN
cblr-1695	295	33	,	,	PUNCT
cblr-1695	295	34	by	by	ADP
cblr-1695	295	35	a	a	DET
cblr-1695	295	36	vote	vote	NOUN
cblr-1695	295	37	of	of	ADP
cblr-1695	295	38	sixty	sixty	NUM
cblr-1695	295	39	-	-	PUNCT
cblr-1695	295	40	one	one	NUM
cblr-1695	295	41	to	to	ADP
cblr-1695	295	42	thirty	thirty	NUM
cblr-1695	295	43	-	-	PUNCT
cblr-1695	295	44	seven.98	seven.98	NOUN
cblr-1695	295	45	clayton	clayton	PROPN
cblr-1695	295	46	was	be	AUX
cblr-1695	295	47	officially	officially	ADV
cblr-1695	295	48	sworn	swear	VERB
cblr-1695	295	49	into	into	ADP
cblr-1695	295	50	his	his	PRON
cblr-1695	295	51	new	new	ADJ
cblr-1695	295	52	position	position	NOUN
cblr-1695	295	53	two	two	NUM
cblr-1695	295	54	days	day	NOUN
cblr-1695	295	55	later	later	ADV
cblr-1695	295	56	on	on	ADP
cblr-1695	295	57	may	may	PROPN
cblr-1695	295	58	4	4	NUM
cblr-1695	295	59	,	,	PUNCT
cblr-1695	295	60	2017.99	2017.99	NUM
cblr-1695	295	61	clayton	clayton	PROPN
cblr-1695	295	62	’s	’s	PART
cblr-1695	295	63	first	first	ADJ
cblr-1695	295	64	major	major	ADJ
cblr-1695	295	65	policy	policy	NOUN
cblr-1695	295	66	move	move	NOUN
cblr-1695	295	67	as	as	ADP
cblr-1695	295	68	chairman	chairman	NOUN
cblr-1695	295	69	came	come	VERB
cblr-1695	295	70	eight	eight	NUM
cblr-1695	295	71	weeks	week	NOUN
cblr-1695	295	72	later.100	later.100	NOUN
cblr-1695	295	73	on	on	ADP
cblr-1695	295	74	june	june	PROPN
cblr-1695	295	75	29	29	NUM
cblr-1695	295	76	,	,	PUNCT
cblr-1695	295	77	2017	2017	NUM
cblr-1695	295	78	,	,	PUNCT
cblr-1695	295	79	the	the	DET
cblr-1695	295	80	sec	sec	PROPN
cblr-1695	295	81	announced	announce	VERB
cblr-1695	295	82	that	that	SCONJ
cblr-1695	295	83	it	it	PRON
cblr-1695	295	84	would	would	AUX
cblr-1695	295	85	begin	begin	VERB
cblr-1695	295	86	allowing	allow	VERB
cblr-1695	295	87	“	"	PUNCT
cblr-1695	295	88	all	all	DET
cblr-1695	295	89	companies	company	NOUN
cblr-1695	295	90	to	to	PART
cblr-1695	295	91	submit	submit	VERB
cblr-1695	295	92	draft	draft	NOUN
cblr-1695	295	93	registration	registration	NOUN
cblr-1695	295	94	statements	statement	NOUN
cblr-1695	295	95	relating	relate	VERB
cblr-1695	295	96	to	to	ADP
cblr-1695	295	97	initial	initial	ADJ
cblr-1695	295	98	public	public	ADJ
cblr-1695	295	99	offerings	offering	NOUN
cblr-1695	295	100	for	for	ADP
cblr-1695	295	101	review	review	NOUN
cblr-1695	295	102	on	on	ADP
cblr-1695	295	103	a	a	DET
cblr-1695	295	104	non	non	ADJ
cblr-1695	295	105	-	-	ADJ
cblr-1695	295	106	public	public	ADJ
cblr-1695	295	107	basis	basis	NOUN
cblr-1695	295	108	.	.	PUNCT
cblr-1695	296	1	”101	”101	PRON
cblr-1695	296	2	because	because	SCONJ
cblr-1695	296	3	egcs	egcs	PROPN
cblr-1695	296	4	had	have	AUX
cblr-1695	296	5	already	already	ADV
cblr-1695	296	6	been	be	AUX
cblr-1695	296	7	allowed	allow	VERB
cblr-1695	296	8	to	to	PART
cblr-1695	296	9	confidentially	confidentially	ADV
cblr-1695	296	10	submit	submit	VERB
cblr-1695	296	11	a	a	DET
cblr-1695	296	12	registration	registration	NOUN
cblr-1695	296	13	statement	statement	NOUN
cblr-1695	296	14	under	under	ADP
cblr-1695	296	15	the	the	DET
cblr-1695	296	16	jobs	job	NOUN
cblr-1695	296	17	act,102	act,102	DET
cblr-1695	296	18	this	this	DET
cblr-1695	296	19	policy	policy	NOUN
cblr-1695	296	20	change	change	NOUN
cblr-1695	296	21	effectively	effectively	ADV
cblr-1695	296	22	extended	extend	VERB
cblr-1695	296	23	this	this	DET
cblr-1695	296	24	same	same	ADJ
cblr-1695	296	25	privilege	privilege	NOUN
cblr-1695	296	26	to	to	ADP
cblr-1695	296	27	non	non	ADJ
cblr-1695	296	28	-	-	ADJ
cblr-1695	296	29	egcs	egcs	ADJ
cblr-1695	296	30	—	—	PUNCT
cblr-1695	296	31	companies	company	NOUN
cblr-1695	296	32	that	that	PRON
cblr-1695	296	33	do	do	AUX
cblr-1695	296	34	not	not	PART
cblr-1695	296	35	qualify	qualify	VERB
cblr-1695	296	36	as	as	ADP
cblr-1695	296	37	egcs	egcs	ADJ
cblr-1695	296	38	because	because	SCONJ
cblr-1695	296	39	they	they	PRON
cblr-1695	296	40	had	have	VERB
cblr-1695	296	41	$	$	SYM
cblr-1695	296	42	1.07	1.07	NUM
cblr-1695	296	43	billion	billion	NUM
cblr-1695	296	44	or	or	CCONJ
cblr-1695	296	45	more	more	ADJ
cblr-1695	296	46	in	in	ADP
cblr-1695	296	47	revenue	revenue	NOUN
cblr-1695	296	48	during	during	ADP
cblr-1695	296	49	their	their	PRON
cblr-1695	296	50	latest	late	ADJ
cblr-1695	296	51	fiscal	fiscal	ADJ
cblr-1695	296	52	year.103	year.103	NOUN
cblr-1695	296	53	similar	similar	ADJ
cblr-1695	296	54	to	to	ADP
cblr-1695	296	55	the	the	DET
cblr-1695	296	56	jobs	job	NOUN
cblr-1695	296	57	act	act	NOUN
cblr-1695	296	58	provisions	provision	NOUN
cblr-1695	296	59	,	,	PUNCT
cblr-1695	296	60	any	any	DET
cblr-1695	296	61	company	company	NOUN
cblr-1695	296	62	choosing	choose	VERB
cblr-1695	296	63	to	to	PART
cblr-1695	296	64	confidentially	confidentially	ADV
cblr-1695	296	65	file	file	VERB
cblr-1695	296	66	its	its	PRON
cblr-1695	296	67	registration	registration	NOUN
cblr-1695	296	68	statement	statement	NOUN
cblr-1695	296	69	must	must	AUX
cblr-1695	296	70	still	still	ADV
cblr-1695	296	71	publicly	publicly	ADV
cblr-1695	296	72	file	file	VERB
cblr-1695	296	73	it	it	PRON
cblr-1695	296	74	at	at	ADV
cblr-1695	296	75	least	least	ADV
cblr-1695	296	76	fifteen	fifteen	NUM
cblr-1695	296	77	days	day	NOUN
cblr-1695	296	78	before	before	SCONJ
cblr-1695	296	79	a	a	DET
cblr-1695	296	80	road	road	NOUN
cblr-1695	296	81	show.104	show.104	PART
cblr-1695	296	82	98	98	NUM
cblr-1695	296	83	geoffrey	geoffrey	PROPN
cblr-1695	296	84	gardner	gardner	PROPN
cblr-1695	296	85	,	,	PUNCT
cblr-1695	296	86	development	development	NOUN
cblr-1695	296	87	article	article	NOUN
cblr-1695	296	88	,	,	PUNCT
cblr-1695	296	89	expected	expect	VERB
cblr-1695	296	90	changes	change	NOUN
cblr-1695	296	91	in	in	ADP
cblr-1695	296	92	sec	sec	PROPN
cblr-1695	296	93	regulatory	regulatory	ADJ
cblr-1695	296	94	policy	policy	NOUN
cblr-1695	296	95	under	under	ADP
cblr-1695	296	96	president	president	PROPN
cblr-1695	296	97	trump	trump	PROPN
cblr-1695	296	98	’s	’s	PART
cblr-1695	296	99	administration	administration	NOUN
cblr-1695	296	100	,	,	PUNCT
cblr-1695	296	101	36	36	NUM
cblr-1695	296	102	rev	rev	NOUN
cblr-1695	296	103	.	.	PUNCT
cblr-1695	296	104	banking	banking	NOUN
cblr-1695	296	105	&	&	CCONJ
cblr-1695	296	106	fin	fin	PROPN
cblr-1695	296	107	.	.	PUNCT
cblr-1695	297	1	l.	l.	PROPN
cblr-1695	297	2	580	580	NUM
cblr-1695	297	3	,	,	PUNCT
cblr-1695	297	4	586–87	586–87	NUM
cblr-1695	297	5	(	(	PUNCT
cblr-1695	297	6	2017	2017	NUM
cblr-1695	297	7	)	)	PUNCT
cblr-1695	297	8	.	.	PUNCT
cblr-1695	298	1	99	99	NUM
cblr-1695	299	1	i	i	PRON
cblr-1695	299	2	d.	d.	PROPN
cblr-1695	299	3	at	at	ADP
cblr-1695	299	4	587	587	NUM
cblr-1695	299	5	.	.	PUNCT
cblr-1695	300	1	100	100	NUM
cblr-1695	300	2	see	see	VERB
cblr-1695	300	3	chad	chad	PROPN
cblr-1695	300	4	bray	bray	PROPN
cblr-1695	300	5	&	&	CCONJ
cblr-1695	300	6	matthew	matthew	PROPN
cblr-1695	300	7	goldstein	goldstein	PROPN
cblr-1695	300	8	,	,	PUNCT
cblr-1695	300	9	s.e.c	s.e.c	NOUN
cblr-1695	300	10	.	.	PUNCT
cblr-1695	301	1	lets	let	VERB
cblr-1695	301	2	all	all	DET
cblr-1695	301	3	firms	firm	NOUN
cblr-1695	301	4	keep	keep	VERB
cblr-1695	301	5	parts	part	NOUN
cblr-1695	301	6	of	of	ADP
cblr-1695	301	7	i.p.o	i.p.o	ADJ
cblr-1695	301	8	.	.	PUNCT
cblr-1695	302	1	filings	filing	NOUN
cblr-1695	302	2	secret	secret	ADJ
cblr-1695	302	3	,	,	PUNCT
cblr-1695	302	4	n.y	n.y	PROPN
cblr-1695	302	5	.	.	PROPN
cblr-1695	302	6	times	times	PROPN
cblr-1695	302	7	(	(	PUNCT
cblr-1695	302	8	june	june	PROPN
cblr-1695	302	9	30	30	NUM
cblr-1695	302	10	,	,	PUNCT
cblr-1695	302	11	2017	2017	NUM
cblr-1695	302	12	)	)	PUNCT
cblr-1695	302	13	,	,	PUNCT
cblr-1695	302	14	https://www.nytimes.com/2017/06/30/business/dealbook/sec-to-let-allcompanies-file-ipo-documents-secretly.html?mcubz=0	https://www.nytimes.com/2017/06/30/business/dealbook/sec-to-let-allcompanies-file-ipo-documents-secretly.html?mcubz=0	PUNCT
cblr-1695	303	1	[	[	X
cblr-1695	303	2	https://perma.cc/	https://perma.cc/	VERB
cblr-1695	303	3	4b7c	4b7c	NOUN
cblr-1695	303	4	-	-	PUNCT
cblr-1695	303	5	a3hj	a3hj	X
cblr-1695	303	6	]	]	X
cblr-1695	303	7	.	.	PUNCT
cblr-1695	304	1	101	101	NUM
cblr-1695	304	2	press	press	NOUN
cblr-1695	304	3	release	release	NOUN
cblr-1695	304	4	,	,	PUNCT
cblr-1695	304	5	sec	sec	PROPN
cblr-1695	304	6	,	,	PUNCT
cblr-1695	304	7	sec	sec	PROPN
cblr-1695	304	8	’s	’s	PART
cblr-1695	304	9	division	division	NOUN
cblr-1695	304	10	of	of	ADP
cblr-1695	304	11	corporation	corporation	NOUN
cblr-1695	304	12	finance	finance	NOUN
cblr-1695	304	13	expands	expand	VERB
cblr-1695	304	14	popular	popular	ADJ
cblr-1695	304	15	jobs	job	NOUN
cblr-1695	304	16	act	act	VERB
cblr-1695	304	17	benefit	benefit	VERB
cblr-1695	304	18	to	to	ADP
cblr-1695	304	19	all	all	DET
cblr-1695	304	20	companies	company	NOUN
cblr-1695	304	21	(	(	PUNCT
cblr-1695	304	22	june	june	PROPN
cblr-1695	304	23	29	29	NUM
cblr-1695	304	24	,	,	PUNCT
cblr-1695	304	25	2017	2017	NUM
cblr-1695	304	26	)	)	PUNCT
cblr-1695	304	27	,	,	PUNCT
cblr-1695	304	28	https://www.sec.gov/news/press-release/2017-121	https://www.sec.gov/news/press-release/2017-121	VERB
cblr-1695	305	1	[	[	X
cblr-1695	305	2	https://perma.cc/dys5hj5w	https://perma.cc/dys5hj5w	X
cblr-1695	305	3	]	]	X
cblr-1695	305	4	.	.	PUNCT
cblr-1695	306	1	102	102	NUM
cblr-1695	306	2	see	see	VERB
cblr-1695	306	3	supra	supra	PROPN
cblr-1695	306	4	notes	note	VERB
cblr-1695	306	5	72–81	72–81	NUM
cblr-1695	306	6	and	and	CCONJ
cblr-1695	306	7	accompanying	accompany	VERB
cblr-1695	306	8	text	text	NOUN
cblr-1695	306	9	.	.	PUNCT
cblr-1695	307	1	103	103	NUM
cblr-1695	307	2	see	see	VERB
cblr-1695	307	3	supra	supra	PROPN
cblr-1695	307	4	notes	note	NOUN
cblr-1695	307	5	76–78	76–78	NUM
cblr-1695	307	6	and	and	CCONJ
cblr-1695	307	7	accompanying	accompany	VERB
cblr-1695	307	8	text	text	NOUN
cblr-1695	307	9	.	.	PUNCT
cblr-1695	308	1	104	104	NUM
cblr-1695	308	2	draft	draft	NOUN
cblr-1695	308	3	registration	registration	NOUN
cblr-1695	308	4	statement	statement	NOUN
cblr-1695	308	5	processing	processing	NOUN
cblr-1695	308	6	procedures	procedure	NOUN
cblr-1695	308	7	expanded	expand	VERB
cblr-1695	308	8	,	,	PUNCT
cblr-1695	308	9	u.s	u.s	PROPN
cblr-1695	308	10	.	.	PROPN
cblr-1695	308	11	sec	sec	PROPN
cblr-1695	308	12	.	.	PROPN
cblr-1695	308	13	&	&	CCONJ
cblr-1695	308	14	exchange	exchange	PROPN
cblr-1695	308	15	commission	commission	PROPN
cblr-1695	308	16	(	(	PUNCT
cblr-1695	308	17	june	june	PROPN
cblr-1695	308	18	29	29	NUM
cblr-1695	308	19	,	,	PUNCT
cblr-1695	308	20	2017	2017	NUM
cblr-1695	308	21	)	)	PUNCT
cblr-1695	309	1	[	[	X
cblr-1695	309	2	hereinafter	hereinafter	NOUN
cblr-1695	309	3	drs	dr	NOUN
cblr-1695	309	4	explained	explain	VERB
cblr-1695	309	5	]	]	PUNCT
cblr-1695	309	6	,	,	PUNCT
cblr-1695	309	7	https://www.sec.gov/corpfin/announcement/draft-registration-statementprocessing-procedures-expanded	https://www.sec.gov/corpfin/announcement/draft-registration-statementprocessing-procedures-expande	VERB
cblr-1695	309	8	[	[	PUNCT
cblr-1695	309	9	https://perma.cc/rqv3-64ex	https://perma.cc/rqv3-64ex	NOUN
cblr-1695	309	10	]	]	PUNCT
cblr-1695	309	11	.	.	PUNCT
cblr-1695	310	1	no	no	INTJ
cblr-1695	310	2	.	.	PUNCT
cblr-1695	311	1	1:305	1:305	NUM
cblr-1695	311	2	]	]	X
cblr-1695	311	3	going	go	VERB
cblr-1695	311	4	public	public	ADJ
cblr-1695	311	5	secretly	secretly	ADV
cblr-1695	311	6	325	325	NUM
cblr-1695	311	7	clayton	clayton	PROPN
cblr-1695	311	8	noted	note	VERB
cblr-1695	311	9	that	that	SCONJ
cblr-1695	311	10	his	his	PRON
cblr-1695	311	11	first	first	ADJ
cblr-1695	311	12	act	act	NOUN
cblr-1695	311	13	as	as	ADP
cblr-1695	311	14	chairman	chairman	NOUN
cblr-1695	311	15	was	be	AUX
cblr-1695	311	16	aimed	aim	VERB
cblr-1695	311	17	at	at	ADP
cblr-1695	311	18	reversing	reverse	VERB
cblr-1695	311	19	the	the	DET
cblr-1695	311	20	steep	steep	ADJ
cblr-1695	311	21	decline	decline	NOUN
cblr-1695	311	22	in	in	ADP
cblr-1695	311	23	the	the	DET
cblr-1695	311	24	number	number	NOUN
cblr-1695	311	25	of	of	ADP
cblr-1695	311	26	ipos.105	ipos.105	NOUN
cblr-1695	311	27	the	the	DET
cblr-1695	311	28	year	year	NOUN
cblr-1695	311	29	2016	2016	NUM
cblr-1695	311	30	saw	see	VERB
cblr-1695	311	31	the	the	DET
cblr-1695	311	32	fewest	few	ADJ
cblr-1695	311	33	number	number	NOUN
cblr-1695	311	34	of	of	ADP
cblr-1695	311	35	ipos	ipos	NOUN
cblr-1695	311	36	since	since	SCONJ
cblr-1695	311	37	2009	2009	NUM
cblr-1695	311	38	,	,	PUNCT
cblr-1695	311	39	a	a	DET
cblr-1695	311	40	year	year	NOUN
cblr-1695	311	41	undoubtedly	undoubtedly	ADV
cblr-1695	311	42	reeling	reel	VERB
cblr-1695	311	43	from	from	ADP
cblr-1695	311	44	the	the	DET
cblr-1695	311	45	effects	effect	NOUN
cblr-1695	311	46	of	of	ADP
cblr-1695	311	47	the	the	DET
cblr-1695	311	48	2008	2008	NUM
cblr-1695	311	49	financial	financial	ADJ
cblr-1695	311	50	crisis.106	crisis.106	NOUN
cblr-1695	311	51	this	this	DET
cblr-1695	311	52	change	change	NOUN
cblr-1695	311	53	was	be	AUX
cblr-1695	311	54	therefore	therefore	ADV
cblr-1695	311	55	intended	intend	VERB
cblr-1695	311	56	to	to	PART
cblr-1695	311	57	make	make	VERB
cblr-1695	311	58	it	it	PRON
cblr-1695	311	59	easier	easy	ADJ
cblr-1695	311	60	for	for	SCONJ
cblr-1695	311	61	companies	company	NOUN
cblr-1695	311	62	that	that	PRON
cblr-1695	311	63	wanted	want	VERB
cblr-1695	311	64	to	to	PART
cblr-1695	311	65	go	go	VERB
cblr-1695	311	66	public	public	ADJ
cblr-1695	311	67	to	to	PART
cblr-1695	311	68	be	be	AUX
cblr-1695	311	69	able	able	ADJ
cblr-1695	311	70	to	to	PART
cblr-1695	311	71	do	do	VERB
cblr-1695	311	72	so.107	so.107	NOUN
cblr-1695	311	73	in	in	ADP
cblr-1695	311	74	its	its	PRON
cblr-1695	311	75	press	press	NOUN
cblr-1695	311	76	release	release	NOUN
cblr-1695	311	77	,	,	PUNCT
cblr-1695	311	78	the	the	DET
cblr-1695	311	79	sec	sec	PROPN
cblr-1695	311	80	noted	note	VERB
cblr-1695	311	81	that	that	SCONJ
cblr-1695	311	82	non	non	ADJ
cblr-1695	311	83	-	-	ADJ
cblr-1695	311	84	public	public	ADJ
cblr-1695	311	85	review	review	NOUN
cblr-1695	311	86	would	would	AUX
cblr-1695	311	87	allow	allow	VERB
cblr-1695	311	88	all	all	DET
cblr-1695	311	89	companies	company	NOUN
cblr-1695	311	90	“	"	PUNCT
cblr-1695	311	91	more	more	ADJ
cblr-1695	311	92	flexibility	flexibility	NOUN
cblr-1695	311	93	to	to	PART
cblr-1695	311	94	plan	plan	VERB
cblr-1695	311	95	their	their	PRON
cblr-1695	311	96	offering[s].”108	offering[s].”108	NOUN
cblr-1695	311	97	furthermore	furthermore	ADV
cblr-1695	311	98	,	,	PUNCT
cblr-1695	311	99	clayton	clayton	PROPN
cblr-1695	311	100	argued	argue	VERB
cblr-1695	311	101	that	that	SCONJ
cblr-1695	311	102	confidential	confidential	ADJ
cblr-1695	311	103	filings	filing	NOUN
cblr-1695	311	104	would	would	AUX
cblr-1695	311	105	reduce	reduce	VERB
cblr-1695	311	106	a	a	DET
cblr-1695	311	107	company	company	NOUN
cblr-1695	311	108	’s	’s	PART
cblr-1695	311	109	exposure	exposure	NOUN
cblr-1695	311	110	to	to	ADP
cblr-1695	311	111	market	market	NOUN
cblr-1695	311	112	fluctuations	fluctuation	NOUN
cblr-1695	311	113	that	that	PRON
cblr-1695	311	114	may	may	AUX
cblr-1695	311	115	harm	harm	VERB
cblr-1695	311	116	its	its	PRON
cblr-1695	311	117	offering.109	offering.109	VERB
cblr-1695	311	118	this	this	DET
cblr-1695	311	119	change	change	NOUN
cblr-1695	311	120	(	(	PUNCT
cblr-1695	311	121	hereinafter	hereinafter	NOUN
cblr-1695	311	122	,	,	PUNCT
cblr-1695	311	123	the	the	DET
cblr-1695	311	124	“	"	PUNCT
cblr-1695	311	125	july	july	PROPN
cblr-1695	311	126	2017	2017	NUM
cblr-1695	311	127	change	change	NOUN
cblr-1695	311	128	”	"	PUNCT
cblr-1695	311	129	or	or	CCONJ
cblr-1695	311	130	the	the	DET
cblr-1695	311	131	“	"	PUNCT
cblr-1695	311	132	change	change	NOUN
cblr-1695	311	133	”	"	PUNCT
cblr-1695	311	134	)	)	PUNCT
cblr-1695	311	135	took	take	VERB
cblr-1695	311	136	effect	effect	NOUN
cblr-1695	311	137	on	on	ADP
cblr-1695	311	138	july	july	PROPN
cblr-1695	311	139	10	10	NUM
cblr-1695	311	140	,	,	PUNCT
cblr-1695	311	141	2017.110	2017.110	PROPN
cblr-1695	311	142	105	105	NUM
cblr-1695	311	143	see	see	VERB
cblr-1695	311	144	sec	sec	PROPN
cblr-1695	311	145	,	,	PUNCT
cblr-1695	311	146	supra	supra	PROPN
cblr-1695	311	147	101	101	NUM
cblr-1695	311	148	(	(	PUNCT
cblr-1695	311	149	quoting	quote	VERB
cblr-1695	311	150	clayton	clayton	PROPN
cblr-1695	311	151	as	as	ADP
cblr-1695	311	152	saying	say	VERB
cblr-1695	311	153	,	,	PUNCT
cblr-1695	311	154	“	"	PUNCT
cblr-1695	311	155	we	we	PRON
cblr-1695	311	156	are	be	AUX
cblr-1695	311	157	striving	strive	VERB
cblr-1695	311	158	for	for	ADP
cblr-1695	311	159	efficiency	efficiency	NOUN
cblr-1695	311	160	in	in	ADP
cblr-1695	311	161	our	our	PRON
cblr-1695	311	162	processes	process	NOUN
cblr-1695	311	163	to	to	PART
cblr-1695	311	164	encourage	encourage	VERB
cblr-1695	311	165	more	more	ADJ
cblr-1695	311	166	companies	company	NOUN
cblr-1695	311	167	to	to	PART
cblr-1695	311	168	consider	consider	VERB
cblr-1695	311	169	going	go	VERB
cblr-1695	311	170	public	public	ADJ
cblr-1695	311	171	,	,	PUNCT
cblr-1695	311	172	which	which	PRON
cblr-1695	311	173	can	can	AUX
cblr-1695	311	174	result	result	VERB
cblr-1695	311	175	in	in	ADP
cblr-1695	311	176	more	more	ADJ
cblr-1695	311	177	choices	choice	NOUN
cblr-1695	311	178	for	for	ADP
cblr-1695	311	179	investors	investor	NOUN
cblr-1695	311	180	,	,	PUNCT
cblr-1695	311	181	job	job	NOUN
cblr-1695	311	182	creation	creation	NOUN
cblr-1695	311	183	,	,	PUNCT
cblr-1695	311	184	and	and	CCONJ
cblr-1695	311	185	a	a	DET
cblr-1695	311	186	stronger	strong	ADJ
cblr-1695	311	187	u.s	u.s	PROPN
cblr-1695	311	188	.	.	PROPN
cblr-1695	311	189	economy	economy	NOUN
cblr-1695	311	190	.	.	PUNCT
cblr-1695	311	191	”	"	PUNCT
cblr-1695	311	192	)	)	PUNCT
cblr-1695	311	193	;	;	PUNCT
cblr-1695	311	194	see	see	VERB
cblr-1695	311	195	also	also	ADV
cblr-1695	311	196	update	update	VERB
cblr-1695	311	197	2	2	NUM
cblr-1695	311	198	-	-	PUNCT
cblr-1695	311	199	sec	sec	PROPN
cblr-1695	311	200	to	to	PART
cblr-1695	311	201	allow	allow	VERB
cblr-1695	311	202	all	all	DET
cblr-1695	311	203	companies	company	NOUN
cblr-1695	311	204	to	to	PART
cblr-1695	311	205	file	file	VERB
cblr-1695	311	206	secretly	secretly	ADV
cblr-1695	311	207	for	for	ADP
cblr-1695	311	208	ipos	ipos	NOUN
cblr-1695	311	209	,	,	PUNCT
cblr-1695	311	210	reuters	reuters	PROPN
cblr-1695	311	211	(	(	PUNCT
cblr-1695	311	212	june	june	PROPN
cblr-1695	311	213	29	29	NUM
cblr-1695	311	214	,	,	PUNCT
cblr-1695	311	215	2017	2017	NUM
cblr-1695	311	216	)	)	PUNCT
cblr-1695	312	1	[	[	X
cblr-1695	312	2	hereinafter	hereinafter	NOUN
cblr-1695	312	3	sec	sec	PROPN
cblr-1695	312	4	to	to	PART
cblr-1695	312	5	allow	allow	VERB
cblr-1695	312	6	]	]	PUNCT
cblr-1695	312	7	,	,	PUNCT
cblr-1695	312	8	https://www.reuters.com/article/usa-sec-ipo/update-2-sec-to-allow-allcompanies-to-file-secretly-for-ipos-idusl3n1jr1ja	https://www.reuters.com/article/usa-sec-ipo/update-2-sec-to-allow-allcompanies-to-file-secretly-for-ipos-idusl3n1jr1ja	X
cblr-1695	313	1	[	[	X
cblr-1695	313	2	https://perma.cc/8wp	https://perma.cc/8wp	NOUN
cblr-1695	313	3	e	e	NOUN
cblr-1695	313	4	-	-	NOUN
cblr-1695	313	5	zqea	zqea	NOUN
cblr-1695	313	6	]	]	X
cblr-1695	313	7	(	(	PUNCT
cblr-1695	313	8	“	"	PUNCT
cblr-1695	313	9	it	it	PRON
cblr-1695	313	10	is	be	AUX
cblr-1695	313	11	the	the	DET
cblr-1695	313	12	first	first	ADJ
cblr-1695	313	13	major	major	ADJ
cblr-1695	313	14	policy	policy	NOUN
cblr-1695	313	15	announcement	announcement	NOUN
cblr-1695	313	16	by	by	ADP
cblr-1695	313	17	new	new	ADJ
cblr-1695	313	18	chairman	chairman	PROPN
cblr-1695	313	19	jay	jay	PROPN
cblr-1695	313	20	clayton	clayton	PROPN
cblr-1695	313	21	,	,	PUNCT
cblr-1695	313	22	who	who	PRON
cblr-1695	313	23	has	have	AUX
cblr-1695	313	24	said	say	VERB
cblr-1695	313	25	he	he	PRON
cblr-1695	313	26	aimed	aim	VERB
cblr-1695	313	27	to	to	PART
cblr-1695	313	28	reverse	reverse	VERB
cblr-1695	313	29	the	the	DET
cblr-1695	313	30	steep	steep	ADJ
cblr-1695	313	31	decline	decline	NOUN
cblr-1695	313	32	in	in	ADP
cblr-1695	313	33	ipos	ipos	NOUN
cblr-1695	313	34	and	and	CCONJ
cblr-1695	313	35	give	give	VERB
cblr-1695	313	36	individual	individual	ADJ
cblr-1695	313	37	investors	investor	NOUN
cblr-1695	313	38	more	more	ADJ
cblr-1695	313	39	access	access	NOUN
cblr-1695	313	40	to	to	ADP
cblr-1695	313	41	smaller	small	ADJ
cblr-1695	313	42	,	,	PUNCT
cblr-1695	313	43	successful	successful	ADJ
cblr-1695	313	44	companies	company	NOUN
cblr-1695	313	45	.	.	PUNCT
cblr-1695	313	46	”	"	PUNCT
cblr-1695	313	47	)	)	PUNCT
cblr-1695	313	48	.	.	PUNCT
cblr-1695	314	1	106	106	NUM
cblr-1695	314	2	see	see	VERB
cblr-1695	314	3	roger	roger	PROPN
cblr-1695	314	4	yu	yu	PROPN
cblr-1695	314	5	,	,	PUNCT
cblr-1695	314	6	sec	sec	PROPN
cblr-1695	314	7	to	to	PART
cblr-1695	314	8	allow	allow	VERB
cblr-1695	314	9	confidential	confidential	ADJ
cblr-1695	314	10	ipo	ipo	NOUN
cblr-1695	314	11	registration	registration	NOUN
cblr-1695	314	12	filings	filing	NOUN
cblr-1695	314	13	for	for	ADP
cblr-1695	314	14	all	all	DET
cblr-1695	314	15	companies	company	NOUN
cblr-1695	314	16	,	,	PUNCT
cblr-1695	314	17	usa	usa	PROPN
cblr-1695	314	18	today	today	NOUN
cblr-1695	314	19	(	(	PUNCT
cblr-1695	314	20	june	june	PROPN
cblr-1695	314	21	30	30	NUM
cblr-1695	314	22	,	,	PUNCT
cblr-1695	314	23	2017	2017	NUM
cblr-1695	314	24	)	)	PUNCT
cblr-1695	314	25	,	,	PUNCT
cblr-1695	314	26	https://www.usatoday	https://www.usatoday	PROPN
cblr-1695	314	27	.	.	PUNCT
cblr-1695	314	28	com	com	NOUN
cblr-1695	314	29	/	/	SYM
cblr-1695	314	30	story	story	NOUN
cblr-1695	314	31	/	/	SYM
cblr-1695	314	32	money/2017/06/30	money/2017/06/30	PROPN
cblr-1695	314	33	/	/	SYM
cblr-1695	314	34	sec	sec	PROPN
cblr-1695	314	35	-	-	PUNCT
cblr-1695	314	36	allow	allow	ADJ
cblr-1695	314	37	-	-	PUNCT
cblr-1695	314	38	confidential	confidential	ADJ
cblr-1695	314	39	-	-	PUNCT
cblr-1695	314	40	ipo	ipo	NOUN
cblr-1695	314	41	-	-	ADJ
cblr-1695	314	42	registrationfilings/442539001/	registrationfilings/442539001/	PROPN
cblr-1695	315	1	[	[	X
cblr-1695	315	2	https://perma.cc/52hz-ulva	https://perma.cc/52hz-ulva	X
cblr-1695	315	3	]	]	X
cblr-1695	315	4	.	.	PUNCT
cblr-1695	316	1	prior	prior	ADV
cblr-1695	316	2	to	to	ADP
cblr-1695	316	3	the	the	DET
cblr-1695	316	4	financial	financial	ADJ
cblr-1695	316	5	collapse	collapse	NOUN
cblr-1695	316	6	of	of	ADP
cblr-1695	316	7	2008	2008	NUM
cblr-1695	316	8	,	,	PUNCT
cblr-1695	316	9	the	the	DET
cblr-1695	316	10	most	most	ADV
cblr-1695	316	11	recent	recent	ADJ
cblr-1695	316	12	year	year	NOUN
cblr-1695	316	13	that	that	PRON
cblr-1695	316	14	saw	see	VERB
cblr-1695	316	15	an	an	DET
cblr-1695	316	16	equally	equally	ADV
cblr-1695	316	17	low	low	ADJ
cblr-1695	316	18	number	number	NOUN
cblr-1695	316	19	of	of	ADP
cblr-1695	316	20	ipos	ipos	NOUN
cblr-1695	316	21	was	be	AUX
cblr-1695	316	22	2003	2003	NUM
cblr-1695	316	23	,	,	PUNCT
cblr-1695	316	24	a	a	DET
cblr-1695	316	25	year	year	NOUN
cblr-1695	316	26	in	in	ADP
cblr-1695	316	27	which	which	PRON
cblr-1695	316	28	one	one	NUM
cblr-1695	316	29	study	study	NOUN
cblr-1695	316	30	found	find	VERB
cblr-1695	316	31	there	there	PRON
cblr-1695	316	32	were	be	VERB
cblr-1695	316	33	seventy	seventy	NUM
cblr-1695	316	34	ipos	ipos	NOUN
cblr-1695	316	35	.	.	PUNCT
cblr-1695	317	1	see	see	VERB
cblr-1695	317	2	lia	lia	PROPN
cblr-1695	317	3	der	der	PROPN
cblr-1695	317	4	marderosian	marderosian	PROPN
cblr-1695	317	5	,	,	PUNCT
cblr-1695	317	6	2017	2017	NUM
cblr-1695	317	7	ipo	ipo	NOUN
cblr-1695	317	8	report	report	NOUN
cblr-1695	317	9	,	,	PUNCT
cblr-1695	317	10	harv	harv	PROPN
cblr-1695	317	11	.	.	PUNCT
cblr-1695	318	1	l.	l.	PROPN
cblr-1695	318	2	sch	sch	PROPN
cblr-1695	318	3	.	.	PUNCT
cblr-1695	319	1	f.	f.	PROPN
cblr-1695	319	2	on	on	ADP
cblr-1695	319	3	corp	corp	PROPN
cblr-1695	319	4	.	.	PROPN
cblr-1695	319	5	governance	governance	PROPN
cblr-1695	319	6	&	&	CCONJ
cblr-1695	319	7	fin	fin	PROPN
cblr-1695	319	8	.	.	PUNCT
cblr-1695	320	1	reg	reg	PROPN
cblr-1695	320	2	.	.	PUNCT
cblr-1695	321	1	(	(	PUNCT
cblr-1695	321	2	may	may	PROPN
cblr-1695	321	3	25	25	NUM
cblr-1695	321	4	,	,	PUNCT
cblr-1695	321	5	2017	2017	NUM
cblr-1695	321	6	)	)	PUNCT
cblr-1695	321	7	,	,	PUNCT
cblr-1695	321	8	https://corpgov.law	https://corpgov.law	PROPN
cblr-1695	321	9	.	.	PUNCT
cblr-1695	321	10	harvard.edu/2017/05/25/2017-ipo-report/	harvard.edu/2017/05/25/2017-ipo-report/	PUNCT
cblr-1695	322	1	[	[	X
cblr-1695	322	2	https://perma.cc/2sex-hu6f	https://perma.cc/2sex-hu6f	X
cblr-1695	322	3	]	]	X
cblr-1695	322	4	.	.	PUNCT
cblr-1695	323	1	note	note	VERB
cblr-1695	323	2	that	that	SCONJ
cblr-1695	323	3	this	this	DET
cblr-1695	323	4	report	report	NOUN
cblr-1695	323	5	shows	show	VERB
cblr-1695	323	6	that	that	SCONJ
cblr-1695	323	7	the	the	DET
cblr-1695	323	8	year	year	NOUN
cblr-1695	323	9	2011	2011	NUM
cblr-1695	323	10	had	have	VERB
cblr-1695	323	11	one	one	NUM
cblr-1695	323	12	fewer	few	ADJ
cblr-1695	323	13	ipo	ipo	NOUN
cblr-1695	323	14	than	than	ADP
cblr-1695	323	15	2016	2016	NUM
cblr-1695	323	16	,	,	PUNCT
cblr-1695	323	17	which	which	PRON
cblr-1695	323	18	differs	differ	VERB
cblr-1695	323	19	from	from	ADP
cblr-1695	323	20	the	the	DET
cblr-1695	323	21	yu	yu	PROPN
cblr-1695	323	22	article	article	PROPN
cblr-1695	323	23	’s	’s	PART
cblr-1695	323	24	claim	claim	NOUN
cblr-1695	323	25	that	that	SCONJ
cblr-1695	323	26	2016	2016	NUM
cblr-1695	323	27	saw	see	VERB
cblr-1695	323	28	the	the	DET
cblr-1695	323	29	fewest	few	ADJ
cblr-1695	323	30	ipos	ipos	NOUN
cblr-1695	323	31	since	since	SCONJ
cblr-1695	323	32	2009	2009	NUM
cblr-1695	323	33	.	.	PUNCT
cblr-1695	324	1	see	see	VERB
cblr-1695	324	2	yu	yu	PROPN
cblr-1695	324	3	,	,	PUNCT
cblr-1695	324	4	supra	supra	PROPN
cblr-1695	324	5	.	.	PUNCT
cblr-1695	325	1	however	however	ADV
cblr-1695	325	2	,	,	PUNCT
cblr-1695	325	3	this	this	PRON
cblr-1695	325	4	is	be	AUX
cblr-1695	325	5	likely	likely	ADJ
cblr-1695	325	6	due	due	ADJ
cblr-1695	325	7	to	to	ADP
cblr-1695	325	8	differing	differ	VERB
cblr-1695	325	9	methodologies	methodology	NOUN
cblr-1695	325	10	.	.	PUNCT
cblr-1695	326	1	see	see	VERB
cblr-1695	326	2	infra	infra	NOUN
cblr-1695	326	3	notes	note	VERB
cblr-1695	326	4	141	141	NUM
cblr-1695	326	5	and	and	CCONJ
cblr-1695	326	6	147	147	NUM
cblr-1695	326	7	for	for	ADP
cblr-1695	326	8	a	a	DET
cblr-1695	326	9	full	full	ADJ
cblr-1695	326	10	discussion	discussion	NOUN
cblr-1695	326	11	of	of	ADP
cblr-1695	326	12	this	this	DET
cblr-1695	326	13	phenomenon	phenomenon	NOUN
cblr-1695	326	14	.	.	PUNCT
cblr-1695	327	1	107	107	NUM
cblr-1695	327	2	see	see	VERB
cblr-1695	327	3	bray	bray	PROPN
cblr-1695	327	4	&	&	CCONJ
cblr-1695	327	5	goldstein	goldstein	PROPN
cblr-1695	327	6	,	,	PUNCT
cblr-1695	327	7	supra	supra	PROPN
cblr-1695	327	8	note	note	PROPN
cblr-1695	327	9	100	100	NUM
cblr-1695	327	10	.	.	X
cblr-1695	327	11	108	108	NUM
cblr-1695	327	12	sec	sec	PROPN
cblr-1695	327	13	,	,	PUNCT
cblr-1695	327	14	supra	supra	PROPN
cblr-1695	327	15	note	note	NOUN
cblr-1695	327	16	101	101	NUM
cblr-1695	327	17	.	.	PUNCT
cblr-1695	328	1	109	109	NUM
cblr-1695	328	2	see	see	VERB
cblr-1695	328	3	yu	yu	PROPN
cblr-1695	328	4	,	,	PUNCT
cblr-1695	328	5	supra	supra	PROPN
cblr-1695	328	6	note	note	NOUN
cblr-1695	328	7	106	106	NUM
cblr-1695	328	8	.	.	PUNCT
cblr-1695	329	1	110	110	NUM
cblr-1695	329	2	drs	dr	NOUN
cblr-1695	329	3	explained	explain	VERB
cblr-1695	329	4	,	,	PUNCT
cblr-1695	329	5	supra	supra	PROPN
cblr-1695	329	6	note	note	PROPN
cblr-1695	329	7	104	104	NUM
cblr-1695	329	8	;	;	PUNCT
cblr-1695	329	9	see	see	VERB
cblr-1695	329	10	also	also	ADV
cblr-1695	329	11	jeff	jeff	PROPN
cblr-1695	329	12	john	john	PROPN
cblr-1695	329	13	roberts	roberts	PROPN
cblr-1695	329	14	,	,	PUNCT
cblr-1695	329	15	today	today	NOUN
cblr-1695	329	16	is	be	AUX
cblr-1695	329	17	the	the	DET
cblr-1695	329	18	first	first	ADJ
cblr-1695	329	19	day	day	NOUN
cblr-1695	329	20	of	of	ADP
cblr-1695	329	21	new	new	ADJ
cblr-1695	329	22	stealth	stealth	ADJ
cblr-1695	329	23	ipo	ipo	NOUN
cblr-1695	329	24	rules	rule	NOUN
cblr-1695	329	25	,	,	PUNCT
cblr-1695	329	26	fortune	fortune	NOUN
cblr-1695	329	27	(	(	PUNCT
cblr-1695	329	28	july	july	PROPN
cblr-1695	329	29	10	10	NUM
cblr-1695	329	30	,	,	PUNCT
cblr-1695	329	31	2017	2017	NUM
cblr-1695	329	32	)	)	PUNCT
cblr-1695	329	33	,	,	PUNCT
cblr-1695	329	34	326	326	NUM
cblr-1695	329	35	columbia	columbia	PROPN
cblr-1695	329	36	business	business	NOUN
cblr-1695	329	37	law	law	PROPN
cblr-1695	329	38	review	review	NOUN
cblr-1695	329	39	[	[	X
cblr-1695	329	40	vol	vol	NOUN
cblr-1695	329	41	.	.	PUNCT
cblr-1695	329	42	2019	2019	NUM
cblr-1695	329	43	iii	iii	NOUN
cblr-1695	329	44	.	.	PUNCT
cblr-1695	330	1	the	the	DET
cblr-1695	330	2	effect	effect	NOUN
cblr-1695	330	3	of	of	ADP
cblr-1695	330	4	the	the	DET
cblr-1695	330	5	confidential	confidential	ADJ
cblr-1695	330	6	draft	draft	NOUN
cblr-1695	330	7	registration	registration	NOUN
cblr-1695	330	8	process	process	NOUN
cblr-1695	330	9	on	on	ADP
cblr-1695	330	10	ipo	ipo	NOUN
cblr-1695	330	11	activity	activity	NOUN
cblr-1695	330	12	the	the	DET
cblr-1695	330	13	july	july	PROPN
cblr-1695	330	14	2017	2017	NUM
cblr-1695	330	15	change	change	NOUN
cblr-1695	330	16	extended	extend	VERB
cblr-1695	330	17	a	a	DET
cblr-1695	330	18	portion	portion	NOUN
cblr-1695	330	19	of	of	ADP
cblr-1695	330	20	the	the	DET
cblr-1695	330	21	jobs	job	NOUN
cblr-1695	330	22	act	act	NOUN
cblr-1695	330	23	—	—	PUNCT
cblr-1695	330	24	the	the	DET
cblr-1695	330	25	ability	ability	NOUN
cblr-1695	330	26	to	to	PART
cblr-1695	330	27	file	file	VERB
cblr-1695	330	28	a	a	DET
cblr-1695	330	29	confidential	confidential	ADJ
cblr-1695	330	30	drs	dr	NOUN
cblr-1695	330	31	—	—	PUNCT
cblr-1695	330	32	to	to	ADP
cblr-1695	330	33	all	all	DET
cblr-1695	330	34	issuers.111	issuers.111	PROPN
cblr-1695	330	35	benefits	benefit	NOUN
cblr-1695	330	36	beyond	beyond	ADP
cblr-1695	330	37	the	the	DET
cblr-1695	330	38	confidential	confidential	ADJ
cblr-1695	330	39	review	review	NOUN
cblr-1695	330	40	process	process	NOUN
cblr-1695	330	41	afforded	afford	VERB
cblr-1695	330	42	to	to	PART
cblr-1695	330	43	egcs	egcs	VERB
cblr-1695	330	44	under	under	ADP
cblr-1695	330	45	the	the	DET
cblr-1695	330	46	jobs	job	NOUN
cblr-1695	330	47	act	act	NOUN
cblr-1695	330	48	were	be	AUX
cblr-1695	330	49	not	not	PART
cblr-1695	330	50	extended	extend	VERB
cblr-1695	330	51	to	to	ADP
cblr-1695	330	52	all	all	DET
cblr-1695	330	53	companies	company	NOUN
cblr-1695	330	54	by	by	ADP
cblr-1695	330	55	the	the	DET
cblr-1695	330	56	change.112	change.112	PROPN
cblr-1695	330	57	because	because	SCONJ
cblr-1695	330	58	the	the	DET
cblr-1695	330	59	july	july	PROPN
cblr-1695	330	60	2017	2017	NUM
cblr-1695	330	61	change	change	NOUN
cblr-1695	330	62	is	be	AUX
cblr-1695	330	63	grounded	ground	VERB
cblr-1695	330	64	in	in	ADP
cblr-1695	330	65	the	the	DET
cblr-1695	330	66	confidential	confidential	ADJ
cblr-1695	330	67	review	review	NOUN
cblr-1695	330	68	provision	provision	NOUN
cblr-1695	330	69	of	of	ADP
cblr-1695	330	70	the	the	DET
cblr-1695	330	71	jobs	job	NOUN
cblr-1695	331	1	act,113	act,113	PROPN
cblr-1695	332	1	it	it	PRON
cblr-1695	332	2	is	be	AUX
cblr-1695	332	3	first	first	ADV
cblr-1695	332	4	best	good	ADJ
cblr-1695	332	5	to	to	PART
cblr-1695	332	6	assess	assess	VERB
cblr-1695	332	7	the	the	DET
cblr-1695	332	8	success	success	NOUN
cblr-1695	332	9	of	of	ADP
cblr-1695	332	10	this	this	DET
cblr-1695	332	11	act	act	NOUN
cblr-1695	332	12	.	.	PUNCT
cblr-1695	333	1	simply	simply	ADV
cblr-1695	333	2	put	put	VERB
cblr-1695	333	3	,	,	PUNCT
cblr-1695	333	4	it	it	PRON
cblr-1695	333	5	is	be	AUX
cblr-1695	333	6	not	not	PART
cblr-1695	333	7	certain	certain	ADJ
cblr-1695	333	8	that	that	SCONJ
cblr-1695	333	9	the	the	DET
cblr-1695	333	10	jobs	job	NOUN
cblr-1695	333	11	act	act	NOUN
cblr-1695	333	12	achieved	achieve	VERB
cblr-1695	333	13	its	its	PRON
cblr-1695	333	14	stated	state	VERB
cblr-1695	333	15	goal	goal	NOUN
cblr-1695	333	16	of	of	ADP
cblr-1695	333	17	increasing	increase	VERB
cblr-1695	333	18	egc	egc	ADJ
cblr-1695	333	19	access	access	NOUN
cblr-1695	333	20	to	to	ADP
cblr-1695	333	21	the	the	DET
cblr-1695	333	22	capital	capital	NOUN
cblr-1695	333	23	markets	market	NOUN
cblr-1695	333	24	through	through	ADP
cblr-1695	333	25	confidential	confidential	ADJ
cblr-1695	333	26	registration.114	registration.114	NOUN
cblr-1695	333	27	instead	instead	ADV
cblr-1695	333	28	,	,	PUNCT
cblr-1695	333	29	scholars	scholar	NOUN
cblr-1695	333	30	recognize	recognize	VERB
cblr-1695	333	31	that	that	SCONJ
cblr-1695	333	32	the	the	DET
cblr-1695	333	33	results	result	NOUN
cblr-1695	333	34	of	of	ADP
cblr-1695	333	35	early	early	ADJ
cblr-1695	333	36	studies	study	NOUN
cblr-1695	333	37	regarding	regard	VERB
cblr-1695	333	38	the	the	DET
cblr-1695	333	39	success	success	NOUN
cblr-1695	333	40	of	of	ADP
cblr-1695	333	41	the	the	DET
cblr-1695	333	42	jobs	job	NOUN
cblr-1695	333	43	act	act	PROPN
cblr-1695	333	44	’s	’s	PART
cblr-1695	333	45	“	"	PUNCT
cblr-1695	333	46	goal	goal	NOUN
cblr-1695	333	47	of	of	ADP
cblr-1695	333	48	facilitating	facilitate	VERB
cblr-1695	333	49	small	small	ADJ
cblr-1695	333	50	firms	firm	NOUN
cblr-1695	333	51	’	'	PUNCT
cblr-1695	333	52	ability	ability	NOUN
cblr-1695	333	53	to	to	PART
cblr-1695	333	54	raise	raise	VERB
cblr-1695	333	55	capital	capital	NOUN
cblr-1695	333	56	”	"	PUNCT
cblr-1695	333	57	are	be	AUX
cblr-1695	333	58	“	"	PUNCT
cblr-1695	333	59	mixed	mixed	ADJ
cblr-1695	333	60	.	.	PUNCT
cblr-1695	333	61	”115	”115	PUNCT
cblr-1695	333	62	analyzing	analyze	VERB
cblr-1695	333	63	the	the	DET
cblr-1695	333	64	success	success	NOUN
cblr-1695	333	65	of	of	ADP
cblr-1695	333	66	the	the	DET
cblr-1695	333	67	jobs	job	NOUN
cblr-1695	333	68	act	act	NOUN
cblr-1695	333	69	will	will	AUX
cblr-1695	333	70	place	place	VERB
cblr-1695	333	71	the	the	DET
cblr-1695	333	72	confidential	confidential	ADJ
cblr-1695	333	73	drs	drs	ADJ
cblr-1695	333	74	review	review	NOUN
cblr-1695	333	75	process	process	NOUN
cblr-1695	333	76	into	into	ADP
cblr-1695	333	77	context	context	NOUN
cblr-1695	333	78	at	at	ADP
cblr-1695	333	79	the	the	DET
cblr-1695	333	80	time	time	NOUN
cblr-1695	333	81	of	of	ADP
cblr-1695	333	82	the	the	DET
cblr-1695	333	83	july	july	PROPN
cblr-1695	333	84	2017	2017	NUM
cblr-1695	333	85	change	change	NOUN
cblr-1695	333	86	and	and	CCONJ
cblr-1695	333	87	will	will	AUX
cblr-1695	333	88	demonstrate	demonstrate	VERB
cblr-1695	333	89	that	that	SCONJ
cblr-1695	333	90	the	the	DET
cblr-1695	333	91	sec	sec	PROPN
cblr-1695	333	92	under	under	ADP
cblr-1695	333	93	chairman	chairman	PROPN
cblr-1695	333	94	clayton	clayton	PROPN
cblr-1695	333	95	chose	choose	VERB
cblr-1695	333	96	to	to	PART
cblr-1695	333	97	expand	expand	VERB
cblr-1695	333	98	a	a	DET
cblr-1695	333	99	policy	policy	NOUN
cblr-1695	333	100	that	that	PRON
cblr-1695	333	101	had	have	VERB
cblr-1695	333	102	,	,	PUNCT
cblr-1695	333	103	at	at	ADP
cblr-1695	333	104	best	good	ADJ
cblr-1695	333	105	,	,	PUNCT
cblr-1695	333	106	inconclusive	inconclusive	ADJ
cblr-1695	333	107	results	result	NOUN
cblr-1695	333	108	.	.	PUNCT
cblr-1695	334	1	this	this	DET
cblr-1695	334	2	part	part	NOUN
cblr-1695	334	3	begins	begin	VERB
cblr-1695	334	4	in	in	ADP
cblr-1695	334	5	section	section	NOUN
cblr-1695	334	6	iii.a	iii.a	PROPN
cblr-1695	334	7	by	by	ADP
cblr-1695	334	8	assessing	assess	VERB
cblr-1695	334	9	previous	previous	ADJ
cblr-1695	334	10	scholarship	scholarship	NOUN
cblr-1695	334	11	on	on	ADP
cblr-1695	334	12	the	the	DET
cblr-1695	334	13	jobs	job	NOUN
cblr-1695	334	14	act	act	NOUN
cblr-1695	334	15	and	and	CCONJ
cblr-1695	334	16	the	the	DET
cblr-1695	334	17	dispute	dispute	NOUN
cblr-1695	334	18	over	over	ADP
cblr-1695	334	19	whether	whether	SCONJ
cblr-1695	334	20	it	it	PRON
cblr-1695	334	21	succeeded	succeed	VERB
cblr-1695	334	22	in	in	ADP
cblr-1695	334	23	increasing	increase	VERB
cblr-1695	334	24	access	access	NOUN
cblr-1695	334	25	to	to	ADP
cblr-1695	334	26	the	the	DET
cblr-1695	334	27	capital	capital	NOUN
cblr-1695	334	28	markets	market	NOUN
cblr-1695	334	29	.	.	PUNCT
cblr-1695	335	1	section	section	NOUN
cblr-1695	335	2	iii.b	iii.b	PUNCT
cblr-1695	335	3	then	then	ADV
cblr-1695	335	4	analyzes	analyze	VERB
cblr-1695	335	5	the	the	DET
cblr-1695	335	6	july	july	PROPN
cblr-1695	335	7	2017	2017	NUM
cblr-1695	335	8	http://fortune.com/2017/07/10/confidential-ipo-rules/	http://fortune.com/2017/07/10/confidential-ipo-rules/	PROPN
cblr-1695	336	1	[	[	X
cblr-1695	336	2	https://perma.cc/au	https://perma.cc/au	NOUN
cblr-1695	336	3	7g	7g	NOUN
cblr-1695	336	4	-	-	NOUN
cblr-1695	336	5	ylt9	ylt9	PROPN
cblr-1695	336	6	]	]	X
cblr-1695	336	7	.	.	PUNCT
cblr-1695	337	1	111	111	NUM
cblr-1695	337	2	see	see	VERB
cblr-1695	337	3	supra	supra	PROPN
cblr-1695	337	4	section	section	NOUN
cblr-1695	337	5	ii.e	ii.e	ADV
cblr-1695	337	6	.	.	PUNCT
cblr-1695	338	1	112	112	NUM
cblr-1695	338	2	sec	sec	PROPN
cblr-1695	338	3	staff	staff	NOUN
cblr-1695	338	4	expands	expand	VERB
cblr-1695	338	5	ability	ability	NOUN
cblr-1695	338	6	to	to	PART
cblr-1695	338	7	file	file	VERB
cblr-1695	338	8	registration	registration	NOUN
cblr-1695	338	9	statements	statement	NOUN
cblr-1695	338	10	on	on	ADP
cblr-1695	338	11	a	a	DET
cblr-1695	338	12	nonpublic	nonpublic	ADJ
cblr-1695	338	13	basis	basis	NOUN
cblr-1695	338	14	,	,	PUNCT
cblr-1695	338	15	davis	davis	PROPN
cblr-1695	338	16	polk	polk	PROPN
cblr-1695	338	17	&	&	CCONJ
cblr-1695	338	18	wardwell	wardwell	PROPN
cblr-1695	338	19	llp	llp	PROPN
cblr-1695	338	20	(	(	PUNCT
cblr-1695	338	21	july	july	PROPN
cblr-1695	338	22	5	5	NUM
cblr-1695	338	23	,	,	PUNCT
cblr-1695	338	24	2017	2017	NUM
cblr-1695	338	25	)	)	PUNCT
cblr-1695	339	1	[	[	X
cblr-1695	339	2	hereinafter	hereinafter	NOUN
cblr-1695	339	3	sec	sec	PROPN
cblr-1695	339	4	staff	staff	NOUN
cblr-1695	339	5	expands	expand	VERB
cblr-1695	339	6	]	]	PUNCT
cblr-1695	339	7	,	,	PUNCT
cblr-1695	339	8	https://www.davispolk.com/files/2017-07-05_sec	https://www.davispolk.com/files/2017-07-05_sec	PROPN
cblr-1695	339	9	_	_	PUNCT
cblr-1695	340	1	staff_expands_ability_file_registration_statements_on_nonpublic_basis.pd	staff_expands_ability_file_registration_statements_on_nonpublic_basis.pd	PROPN
cblr-1695	340	2	f	f	X
cblr-1695	341	1	[	[	X
cblr-1695	341	2	https://perma.cc/83py-me3r	https://perma.cc/83py-me3r	X
cblr-1695	341	3	]	]	PUNCT
cblr-1695	341	4	.	.	PUNCT
cblr-1695	341	5	113	113	NUM
cblr-1695	341	6	see	see	VERB
cblr-1695	341	7	supra	supra	PROPN
cblr-1695	341	8	notes	note	VERB
cblr-1695	341	9	101–03	101–03	NOUN
cblr-1695	341	10	and	and	CCONJ
cblr-1695	341	11	accompanying	accompany	VERB
cblr-1695	341	12	text	text	NOUN
cblr-1695	341	13	.	.	PUNCT
cblr-1695	342	1	114	114	NUM
cblr-1695	342	2	see	see	VERB
cblr-1695	342	3	infra	infra	NOUN
cblr-1695	342	4	section	section	NOUN
cblr-1695	342	5	iii.a	iii.a	PROPN
cblr-1695	342	6	.	.	PROPN
cblr-1695	343	1	115	115	NUM
cblr-1695	343	2	colleen	colleen	PROPN
cblr-1695	343	3	honigsberg	honigsberg	PROPN
cblr-1695	343	4	,	,	PUNCT
cblr-1695	343	5	robert	robert	PROPN
cblr-1695	343	6	j.	j.	PROPN
cblr-1695	343	7	jackson	jackson	PROPN
cblr-1695	343	8	,	,	PUNCT
cblr-1695	343	9	jr	jr	PROPN
cblr-1695	343	10	.	.	PROPN
cblr-1695	343	11	&	&	CCONJ
cblr-1695	343	12	yu	yu	PROPN
cblr-1695	343	13	-	-	PROPN
cblr-1695	343	14	ting	ting	ADJ
cblr-1695	343	15	forester	forester	PROPN
cblr-1695	343	16	wong	wong	PROPN
cblr-1695	343	17	,	,	PUNCT
cblr-1695	343	18	mandatory	mandatory	ADJ
cblr-1695	343	19	disclosure	disclosure	NOUN
cblr-1695	343	20	and	and	CCONJ
cblr-1695	343	21	individual	individual	ADJ
cblr-1695	343	22	investors	investor	NOUN
cblr-1695	343	23	:	:	PUNCT
cblr-1695	343	24	evidence	evidence	NOUN
cblr-1695	343	25	from	from	ADP
cblr-1695	343	26	the	the	DET
cblr-1695	343	27	jobs	job	NOUN
cblr-1695	343	28	act	act	NOUN
cblr-1695	343	29	,	,	PUNCT
cblr-1695	343	30	93	93	NUM
cblr-1695	343	31	wash	wash	NOUN
cblr-1695	343	32	.	.	PUNCT
cblr-1695	344	1	u.	u.	PROPN
cblr-1695	344	2	l.	l.	PROPN
cblr-1695	344	3	rev	rev	PROPN
cblr-1695	344	4	.	.	PROPN
cblr-1695	344	5	293	293	NUM
cblr-1695	344	6	,	,	PUNCT
cblr-1695	344	7	307	307	NUM
cblr-1695	344	8	(	(	PUNCT
cblr-1695	344	9	2015	2015	NUM
cblr-1695	344	10	)	)	PUNCT
cblr-1695	344	11	.	.	PUNCT
cblr-1695	345	1	in	in	ADP
cblr-1695	345	2	addition	addition	NOUN
cblr-1695	345	3	to	to	ADP
cblr-1695	345	4	the	the	DET
cblr-1695	345	5	confidential	confidential	ADJ
cblr-1695	345	6	drs	drs	ADJ
cblr-1695	345	7	process	process	NOUN
cblr-1695	345	8	,	,	PUNCT
cblr-1695	345	9	this	this	DET
cblr-1695	345	10	study	study	NOUN
cblr-1695	345	11	also	also	ADV
cblr-1695	345	12	examined	examine	VERB
cblr-1695	345	13	other	other	ADJ
cblr-1695	345	14	disclosure	disclosure	NOUN
cblr-1695	345	15	related	relate	VERB
cblr-1695	345	16	aspects	aspect	NOUN
cblr-1695	345	17	of	of	ADP
cblr-1695	345	18	the	the	DET
cblr-1695	345	19	jobs	job	NOUN
cblr-1695	345	20	act	act	PROPN
cblr-1695	345	21	.	.	PUNCT
cblr-1695	346	1	see	see	VERB
cblr-1695	346	2	i	i	PRON
cblr-1695	346	3	d.	d.	PROPN
cblr-1695	346	4	at	at	ADP
cblr-1695	346	5	313	313	NUM
cblr-1695	346	6	;	;	PUNCT
cblr-1695	346	7	see	see	VERB
cblr-1695	346	8	also	also	ADV
cblr-1695	346	9	infra	infra	NOUN
cblr-1695	346	10	note	note	VERB
cblr-1695	346	11	242	242	NUM
cblr-1695	346	12	.	.	PUNCT
cblr-1695	347	1	no	no	INTJ
cblr-1695	347	2	.	.	PUNCT
cblr-1695	348	1	1:305	1:305	NUM
cblr-1695	348	2	]	]	X
cblr-1695	348	3	going	go	VERB
cblr-1695	348	4	public	public	ADJ
cblr-1695	348	5	secretly	secretly	ADV
cblr-1695	348	6	327	327	NUM
cblr-1695	348	7	change	change	NOUN
cblr-1695	348	8	through	through	ADP
cblr-1695	348	9	the	the	DET
cblr-1695	348	10	lens	lens	NOUN
cblr-1695	348	11	of	of	ADP
cblr-1695	348	12	the	the	DET
cblr-1695	348	13	empirical	empirical	ADJ
cblr-1695	348	14	study	study	NOUN
cblr-1695	348	15	the	the	DET
cblr-1695	348	16	author	author	NOUN
cblr-1695	348	17	of	of	ADP
cblr-1695	348	18	this	this	DET
cblr-1695	348	19	note	note	NOUN
cblr-1695	348	20	conducted	conduct	VERB
cblr-1695	348	21	.	.	PUNCT
cblr-1695	349	1	a.	a.	NOUN
cblr-1695	349	2	previous	previous	ADJ
cblr-1695	349	3	scholarship	scholarship	NOUN
cblr-1695	349	4	analyzing	analyze	VERB
cblr-1695	349	5	the	the	DET
cblr-1695	349	6	effect	effect	NOUN
cblr-1695	349	7	of	of	ADP
cblr-1695	349	8	the	the	DET
cblr-1695	349	9	jobs	job	NOUN
cblr-1695	349	10	act	act	VERB
cblr-1695	349	11	on	on	ADP
cblr-1695	349	12	egc	egc	ADJ
cblr-1695	349	13	ipo	ipo	NOUN
cblr-1695	349	14	activity	activity	NOUN
cblr-1695	349	15	one	one	NUM
cblr-1695	349	16	of	of	ADP
cblr-1695	349	17	the	the	DET
cblr-1695	349	18	earliest	early	ADJ
cblr-1695	349	19	studies	study	NOUN
cblr-1695	349	20	of	of	ADP
cblr-1695	349	21	the	the	DET
cblr-1695	349	22	jobs	job	NOUN
cblr-1695	349	23	act	act	NOUN
cblr-1695	349	24	found	find	VERB
cblr-1695	349	25	that	that	SCONJ
cblr-1695	349	26	“	"	PUNCT
cblr-1695	349	27	the	the	DET
cblr-1695	349	28	jobs	job	NOUN
cblr-1695	349	29	act	act	NOUN
cblr-1695	349	30	has	have	AUX
cblr-1695	349	31	affected	affect	VERB
cblr-1695	349	32	ipo	ipo	NOUN
cblr-1695	349	33	volume	volume	NOUN
cblr-1695	349	34	”	"	PUNCT
cblr-1695	349	35	and	and	CCONJ
cblr-1695	349	36	in	in	ADP
cblr-1695	349	37	the	the	DET
cblr-1695	349	38	two	two	NUM
cblr-1695	349	39	years	year	NOUN
cblr-1695	349	40	following	follow	VERB
cblr-1695	349	41	the	the	DET
cblr-1695	349	42	enactment	enactment	NOUN
cblr-1695	349	43	of	of	ADP
cblr-1695	349	44	the	the	DET
cblr-1695	349	45	jobs	job	NOUN
cblr-1695	349	46	act	act	PROPN
cblr-1695	349	47	,	,	PUNCT
cblr-1695	349	48	ipo	ipo	NOUN
cblr-1695	349	49	volume	volume	NOUN
cblr-1695	349	50	in	in	ADP
cblr-1695	349	51	the	the	DET
cblr-1695	349	52	united	united	PROPN
cblr-1695	349	53	states	states	PROPN
cblr-1695	349	54	was	be	AUX
cblr-1695	349	55	fifty	fifty	NUM
cblr-1695	349	56	percent	percent	NOUN
cblr-1695	349	57	higher	high	ADJ
cblr-1695	349	58	than	than	ADP
cblr-1695	349	59	the	the	DET
cblr-1695	349	60	previous	previous	ADJ
cblr-1695	349	61	two	two	NUM
cblr-1695	349	62	years.116	years.116	NOUN
cblr-1695	349	63	after	after	ADP
cblr-1695	349	64	accounting	account	VERB
cblr-1695	349	65	for	for	ADP
cblr-1695	349	66	market	market	NOUN
cblr-1695	349	67	conditions	condition	NOUN
cblr-1695	349	68	,	,	PUNCT
cblr-1695	349	69	this	this	DET
cblr-1695	349	70	study	study	NOUN
cblr-1695	349	71	found	find	VERB
cblr-1695	349	72	that	that	SCONJ
cblr-1695	349	73	the	the	DET
cblr-1695	349	74	jobs	job	NOUN
cblr-1695	349	75	act	act	NOUN
cblr-1695	349	76	was	be	AUX
cblr-1695	349	77	responsible	responsible	ADJ
cblr-1695	349	78	for	for	ADP
cblr-1695	349	79	an	an	DET
cblr-1695	349	80	additional	additional	ADJ
cblr-1695	349	81	twenty	twenty	NUM
cblr-1695	349	82	-	-	PUNCT
cblr-1695	349	83	one	one	NUM
cblr-1695	349	84	ipos	ipos	NOUN
cblr-1695	349	85	per	per	ADP
cblr-1695	349	86	year	year	NOUN
cblr-1695	349	87	since	since	SCONJ
cblr-1695	349	88	its	its	PRON
cblr-1695	349	89	passage.117	passage.117	NOUN
cblr-1695	349	90	however	however	ADV
cblr-1695	349	91	,	,	PUNCT
cblr-1695	349	92	three	three	NUM
cblr-1695	349	93	-	-	PUNCT
cblr-1695	349	94	quarters	quarter	NOUN
cblr-1695	349	95	of	of	ADP
cblr-1695	349	96	this	this	DET
cblr-1695	349	97	increase	increase	NOUN
cblr-1695	349	98	was	be	AUX
cblr-1695	349	99	attributed	attribute	VERB
cblr-1695	349	100	to	to	ADP
cblr-1695	349	101	the	the	DET
cblr-1695	349	102	biotechnology	biotechnology	NOUN
cblr-1695	349	103	or	or	CCONJ
cblr-1695	349	104	pharmaceutical	pharmaceutical	NOUN
cblr-1695	349	105	industries.118	industries.118	NOUN
cblr-1695	349	106	the	the	DET
cblr-1695	349	107	study	study	NOUN
cblr-1695	349	108	acknowledges	acknowledge	VERB
cblr-1695	349	109	this	this	PRON
cblr-1695	349	110	might	might	AUX
cblr-1695	349	111	be	be	AUX
cblr-1695	349	112	a	a	DET
cblr-1695	349	113	result	result	NOUN
cblr-1695	349	114	of	of	ADP
cblr-1695	349	115	the	the	DET
cblr-1695	349	116	jobs	job	NOUN
cblr-1695	349	117	act	act	NOUN
cblr-1695	349	118	,	,	PUNCT
cblr-1695	349	119	since	since	SCONJ
cblr-1695	349	120	the	the	DET
cblr-1695	349	121	confidential	confidential	ADJ
cblr-1695	349	122	review	review	NOUN
cblr-1695	349	123	process	process	NOUN
cblr-1695	349	124	is	be	AUX
cblr-1695	349	125	of	of	ADP
cblr-1695	349	126	particular	particular	ADJ
cblr-1695	349	127	benefit	benefit	NOUN
cblr-1695	349	128	to	to	ADP
cblr-1695	349	129	industries	industry	NOUN
cblr-1695	349	130	that	that	PRON
cblr-1695	349	131	have	have	VERB
cblr-1695	349	132	high	high	ADJ
cblr-1695	349	133	proprietary	proprietary	ADJ
cblr-1695	349	134	costs	cost	NOUN
cblr-1695	349	135	,	,	PUNCT
cblr-1695	349	136	which	which	PRON
cblr-1695	349	137	include	include	VERB
cblr-1695	349	138	the	the	DET
cblr-1695	349	139	biotechnology	biotechnology	NOUN
cblr-1695	349	140	and	and	CCONJ
cblr-1695	349	141	pharmaceutical	pharmaceutical	NOUN
cblr-1695	349	142	industries.119	industries.119	NOUN
cblr-1695	349	143	however	however	ADV
cblr-1695	349	144	,	,	PUNCT
cblr-1695	349	145	because	because	SCONJ
cblr-1695	349	146	there	there	PRON
cblr-1695	349	147	was	be	VERB
cblr-1695	349	148	a	a	DET
cblr-1695	349	149	lack	lack	NOUN
cblr-1695	349	150	of	of	ADP
cblr-1695	349	151	ipo	ipo	NOUN
cblr-1695	349	152	growth	growth	NOUN
cblr-1695	349	153	in	in	ADP
cblr-1695	349	154	other	other	ADJ
cblr-1695	349	155	industries	industry	NOUN
cblr-1695	349	156	with	with	ADP
cblr-1695	349	157	presumably	presumably	ADV
cblr-1695	349	158	high	high	ADJ
cblr-1695	349	159	proprietary	proprietary	ADJ
cblr-1695	349	160	costs	cost	NOUN
cblr-1695	349	161	,	,	PUNCT
cblr-1695	349	162	such	such	ADJ
cblr-1695	349	163	as	as	ADP
cblr-1695	349	164	the	the	DET
cblr-1695	349	165	technological	technological	ADJ
cblr-1695	349	166	industry	industry	NOUN
cblr-1695	349	167	,	,	PUNCT
cblr-1695	349	168	the	the	DET
cblr-1695	349	169	authors	author	NOUN
cblr-1695	349	170	admitted	admit	VERB
cblr-1695	349	171	they	they	PRON
cblr-1695	349	172	“	"	PUNCT
cblr-1695	349	173	might	might	AUX
cblr-1695	349	174	not	not	PART
cblr-1695	349	175	have	have	AUX
cblr-1695	349	176	fully	fully	ADV
cblr-1695	349	177	accounted	account	VERB
cblr-1695	349	178	for	for	ADP
cblr-1695	349	179	the	the	DET
cblr-1695	349	180	recent	recent	ADJ
cblr-1695	349	181	increase	increase	NOUN
cblr-1695	349	182	in	in	ADP
cblr-1695	349	183	biotech	biotech	NOUN
cblr-1695	349	184	/	/	SYM
cblr-1695	349	185	pharma	pharma	NOUN
cblr-1695	349	186	valuations	valuation	NOUN
cblr-1695	349	187	.	.	PUNCT
cblr-1695	350	1	”120	”120	ADJ
cblr-1695	351	1	around	around	ADP
cblr-1695	351	2	the	the	DET
cblr-1695	351	3	same	same	ADJ
cblr-1695	351	4	time	time	NOUN
cblr-1695	351	5	,	,	PUNCT
cblr-1695	351	6	another	another	DET
cblr-1695	351	7	study	study	NOUN
cblr-1695	351	8	came	come	VERB
cblr-1695	351	9	to	to	ADP
cblr-1695	351	10	the	the	DET
cblr-1695	351	11	opposite	opposite	ADJ
cblr-1695	351	12	conclusion	conclusion	NOUN
cblr-1695	351	13	.	.	PUNCT
cblr-1695	352	1	in	in	ADP
cblr-1695	352	2	a	a	DET
cblr-1695	352	3	2015	2015	NUM
cblr-1695	352	4	article	article	NOUN
cblr-1695	352	5	,	,	PUNCT
cblr-1695	352	6	professor	professor	PROPN
cblr-1695	352	7	carlos	carlos	PROPN
cblr-1695	352	8	berdejó	berdejó	PROPN
cblr-1695	352	9	examined	examine	VERB
cblr-1695	352	10	ipo	ipo	NOUN
cblr-1695	352	11	activity	activity	NOUN
cblr-1695	352	12	before	before	ADV
cblr-1695	352	13	and	and	CCONJ
cblr-1695	352	14	after	after	ADP
cblr-1695	352	15	the	the	DET
cblr-1695	352	16	enactment	enactment	NOUN
cblr-1695	352	17	of	of	ADP
cblr-1695	352	18	the	the	DET
cblr-1695	352	19	jobs	job	NOUN
cblr-1695	352	20	act.121	act.121	VERB
cblr-1695	352	21	although	although	SCONJ
cblr-1695	352	22	this	this	DET
cblr-1695	352	23	study	study	NOUN
cblr-1695	352	24	found	find	VERB
cblr-1695	352	25	that	that	SCONJ
cblr-1695	352	26	“	"	PUNCT
cblr-1695	352	27	there	there	PRON
cblr-1695	352	28	has	have	AUX
cblr-1695	352	29	been	be	AUX
cblr-1695	352	30	a	a	DET
cblr-1695	352	31	slight	slight	ADJ
cblr-1695	352	32	increase	increase	NOUN
cblr-1695	352	33	in	in	ADP
cblr-1695	352	34	the	the	DET
cblr-1695	352	35	number	number	NOUN
cblr-1695	352	36	of	of	ADP
cblr-1695	352	37	ipos	ipos	NOUN
cblr-1695	352	38	by	by	ADP
cblr-1695	352	39	smaller	small	ADJ
cblr-1695	352	40	issuers	issuer	NOUN
cblr-1695	352	41	in	in	ADP
cblr-1695	352	42	the	the	DET
cblr-1695	352	43	post	post	NOUN
cblr-1695	352	44	-	-	NOUN
cblr-1695	352	45	jobs	job	NOUN
cblr-1695	352	46	[	[	X
cblr-1695	352	47	act	act	NOUN
cblr-1695	352	48	]	]	X
cblr-1695	352	49	period	period	NOUN
cblr-1695	352	50	,	,	PUNCT
cblr-1695	352	51	”	"	PUNCT
cblr-1695	352	52	berdejó	berdejó	NOUN
cblr-1695	352	53	was	be	AUX
cblr-1695	352	54	hesitant	hesitant	ADJ
cblr-1695	352	55	to	to	PART
cblr-1695	352	56	attribute	attribute	VERB
cblr-1695	352	57	this	this	PRON
cblr-1695	352	58	solely	solely	ADV
cblr-1695	352	59	to	to	ADP
cblr-1695	352	60	the	the	DET
cblr-1695	352	61	success	success	NOUN
cblr-1695	352	62	of	of	ADP
cblr-1695	352	63	the	the	DET
cblr-1695	352	64	act	act	NOUN
cblr-1695	352	65	because	because	SCONJ
cblr-1695	352	66	the	the	DET
cblr-1695	352	67	number	number	NOUN
cblr-1695	352	68	of	of	ADP
cblr-1695	352	69	116	116	NUM
cblr-1695	352	70	michael	michael	PROPN
cblr-1695	352	71	dambra	dambra	PROPN
cblr-1695	352	72	,	,	PUNCT
cblr-1695	352	73	laura	laura	PROPN
cblr-1695	352	74	casares	casares	PROPN
cblr-1695	352	75	field	field	PROPN
cblr-1695	352	76	&	&	CCONJ
cblr-1695	352	77	matthew	matthew	PROPN
cblr-1695	352	78	t.	t.	PROPN
cblr-1695	352	79	gustafson	gustafson	PROPN
cblr-1695	352	80	,	,	PUNCT
cblr-1695	352	81	the	the	DET
cblr-1695	352	82	jobs	job	NOUN
cblr-1695	352	83	act	act	VERB
cblr-1695	352	84	and	and	CCONJ
cblr-1695	352	85	ipo	ipo	PROPN
cblr-1695	352	86	volume	volume	NOUN
cblr-1695	352	87	:	:	PUNCT
cblr-1695	352	88	evidence	evidence	NOUN
cblr-1695	352	89	that	that	SCONJ
cblr-1695	352	90	disclosure	disclosure	NOUN
cblr-1695	352	91	costs	cost	NOUN
cblr-1695	352	92	affect	affect	VERB
cblr-1695	352	93	the	the	DET
cblr-1695	352	94	ipo	ipo	NOUN
cblr-1695	352	95	decision	decision	NOUN
cblr-1695	352	96	,	,	PUNCT
cblr-1695	352	97	116	116	NUM
cblr-1695	352	98	j.	j.	PROPN
cblr-1695	352	99	fin	fin	PROPN
cblr-1695	352	100	.	.	PUNCT
cblr-1695	352	101	econ	econ	PROPN
cblr-1695	352	102	.	.	PUNCT
cblr-1695	353	1	121	121	NUM
cblr-1695	353	2	,	,	PUNCT
cblr-1695	353	3	122	122	NUM
cblr-1695	353	4	(	(	PUNCT
cblr-1695	353	5	2015	2015	NUM
cblr-1695	353	6	)	)	PUNCT
cblr-1695	353	7	.	.	PUNCT
cblr-1695	354	1	117	117	NUM
cblr-1695	355	1	i	i	PROPN
cblr-1695	355	2	d.	d.	PROPN
cblr-1695	355	3	118	118	NUM
cblr-1695	356	1	i	i	PRON
cblr-1695	356	2	d.	d.	PROPN
cblr-1695	356	3	at	at	ADP
cblr-1695	356	4	123	123	NUM
cblr-1695	356	5	.	.	PUNCT
cblr-1695	357	1	119	119	NUM
cblr-1695	358	1	i	i	PRON
cblr-1695	358	2	d.	d.	PROPN
cblr-1695	358	3	120	120	NUM
cblr-1695	359	1	i	i	PROPN
cblr-1695	359	2	d.	d.	PROPN
cblr-1695	359	3	121	121	NUM
cblr-1695	359	4	carlos	carlos	PROPN
cblr-1695	359	5	berdejó	berdejó	NOUN
cblr-1695	359	6	,	,	PUNCT
cblr-1695	359	7	going	go	VERB
cblr-1695	359	8	public	public	ADJ
cblr-1695	359	9	after	after	ADP
cblr-1695	359	10	the	the	DET
cblr-1695	359	11	jobs	job	NOUN
cblr-1695	359	12	act	act	PROPN
cblr-1695	359	13	,	,	PUNCT
cblr-1695	359	14	76	76	NUM
cblr-1695	359	15	ohio	ohio	PROPN
cblr-1695	359	16	st	st	PROPN
cblr-1695	359	17	.	.	PROPN
cblr-1695	359	18	l.j	l.j	PROPN
cblr-1695	359	19	.	.	PROPN
cblr-1695	359	20	1	1	NUM
cblr-1695	359	21	(	(	PUNCT
cblr-1695	359	22	2015	2015	NUM
cblr-1695	359	23	)	)	PUNCT
cblr-1695	359	24	.	.	PUNCT
cblr-1695	360	1	328	328	NUM
cblr-1695	360	2	columbia	columbia	PROPN
cblr-1695	360	3	business	business	NOUN
cblr-1695	360	4	law	law	PROPN
cblr-1695	360	5	review	review	NOUN
cblr-1695	360	6	[	[	X
cblr-1695	360	7	vol	vol	NOUN
cblr-1695	360	8	.	.	PUNCT
cblr-1695	360	9	2019	2019	NUM
cblr-1695	360	10	ipos	ipos	NOUN
cblr-1695	360	11	by	by	ADP
cblr-1695	360	12	larger	large	ADJ
cblr-1695	360	13	issuers	issuer	NOUN
cblr-1695	360	14	(	(	PUNCT
cblr-1695	360	15	to	to	PART
cblr-1695	360	16	whom	whom	PRON
cblr-1695	360	17	jobs	job	NOUN
cblr-1695	360	18	act	act	VERB
cblr-1695	360	19	benefits	benefit	NOUN
cblr-1695	360	20	,	,	PUNCT
cblr-1695	360	21	such	such	ADJ
cblr-1695	360	22	as	as	ADP
cblr-1695	360	23	confidential	confidential	ADJ
cblr-1695	360	24	filing	filing	NOUN
cblr-1695	360	25	,	,	PUNCT
cblr-1695	360	26	did	do	AUX
cblr-1695	360	27	not	not	PART
cblr-1695	360	28	apply	apply	VERB
cblr-1695	360	29	at	at	ADP
cblr-1695	360	30	the	the	DET
cblr-1695	360	31	time	time	NOUN
cblr-1695	360	32	)	)	PUNCT
cblr-1695	360	33	also	also	ADV
cblr-1695	360	34	increased.122	increased.122	PROPN
cblr-1695	360	35	as	as	ADP
cblr-1695	360	36	a	a	DET
cblr-1695	360	37	result	result	NOUN
cblr-1695	360	38	,	,	PUNCT
cblr-1695	360	39	professor	professor	NOUN
cblr-1695	360	40	berdejó	berdejó	NOUN
cblr-1695	360	41	acknowledged	acknowledge	VERB
cblr-1695	360	42	,	,	PUNCT
cblr-1695	360	43	“	"	PUNCT
cblr-1695	360	44	the	the	DET
cblr-1695	360	45	number	number	NOUN
cblr-1695	360	46	of	of	ADP
cblr-1695	360	47	ipos	ipos	NOUN
cblr-1695	360	48	by	by	ADP
cblr-1695	360	49	smaller	small	ADJ
cblr-1695	360	50	issuers	issuer	NOUN
cblr-1695	360	51	could	could	AUX
cblr-1695	360	52	be	be	AUX
cblr-1695	360	53	the	the	DET
cblr-1695	360	54	result	result	NOUN
cblr-1695	360	55	of	of	ADP
cblr-1695	360	56	more	more	ADV
cblr-1695	360	57	robust	robust	ADJ
cblr-1695	360	58	overall	overall	ADJ
cblr-1695	360	59	ipo	ipo	NOUN
cblr-1695	360	60	and	and	CCONJ
cblr-1695	360	61	economic	economic	ADJ
cblr-1695	360	62	activity	activity	NOUN
cblr-1695	360	63	or	or	CCONJ
cblr-1695	360	64	be	be	AUX
cblr-1695	360	65	driven	drive	VERB
cblr-1695	360	66	by	by	ADP
cblr-1695	360	67	other	other	ADJ
cblr-1695	360	68	extralegal	extralegal	ADJ
cblr-1695	360	69	factors	factor	NOUN
cblr-1695	360	70	.	.	PUNCT
cblr-1695	361	1	”123	”123	NOUN
cblr-1695	361	2	in	in	ADP
cblr-1695	361	3	addition	addition	NOUN
cblr-1695	361	4	to	to	ADP
cblr-1695	361	5	analyzing	analyze	VERB
cblr-1695	361	6	the	the	DET
cblr-1695	361	7	sheer	sheer	ADJ
cblr-1695	361	8	volume	volume	NOUN
cblr-1695	361	9	of	of	ADP
cblr-1695	361	10	ipos	ipos	NOUN
cblr-1695	361	11	,	,	PUNCT
cblr-1695	361	12	berdejó	berdejó	NOUN
cblr-1695	361	13	also	also	ADV
cblr-1695	361	14	examined	examine	VERB
cblr-1695	361	15	the	the	DET
cblr-1695	361	16	proportion	proportion	NOUN
cblr-1695	361	17	of	of	ADP
cblr-1695	361	18	ipos	ipos	NOUN
cblr-1695	361	19	that	that	PRON
cblr-1695	361	20	came	come	VERB
cblr-1695	361	21	from	from	ADP
cblr-1695	361	22	egcs	egcs	PROPN
cblr-1695	361	23	and	and	CCONJ
cblr-1695	361	24	found	find	VERB
cblr-1695	361	25	that	that	SCONJ
cblr-1695	361	26	“	"	PUNCT
cblr-1695	361	27	there	there	PRON
cblr-1695	361	28	has	have	AUX
cblr-1695	361	29	not	not	PART
cblr-1695	361	30	been	be	AUX
cblr-1695	361	31	a	a	DET
cblr-1695	361	32	noticeable	noticeable	ADJ
cblr-1695	361	33	increase	increase	NOUN
cblr-1695	361	34	in	in	ADP
cblr-1695	361	35	the	the	DET
cblr-1695	361	36	proportion	proportion	NOUN
cblr-1695	361	37	of	of	ADP
cblr-1695	361	38	ipos	ipos	NOUN
cblr-1695	361	39	conducted	conduct	VERB
cblr-1695	361	40	by	by	ADP
cblr-1695	361	41	issuers	issuer	NOUN
cblr-1695	361	42	that	that	PRON
cblr-1695	361	43	qualify	qualify	VERB
cblr-1695	361	44	as	as	ADP
cblr-1695	361	45	egcs	egcs	NOUN
cblr-1695	361	46	”	"	PUNCT
cblr-1695	361	47	despite	despite	SCONJ
cblr-1695	361	48	the	the	DET
cblr-1695	361	49	fact	fact	NOUN
cblr-1695	361	50	that	that	SCONJ
cblr-1695	361	51	ecgs	ecgs	PROPN
cblr-1695	361	52	were	be	AUX
cblr-1695	361	53	taking	take	VERB
cblr-1695	361	54	advantage	advantage	NOUN
cblr-1695	361	55	of	of	ADP
cblr-1695	361	56	the	the	DET
cblr-1695	361	57	new	new	ADJ
cblr-1695	361	58	options	option	NOUN
cblr-1695	361	59	granted	grant	VERB
cblr-1695	361	60	to	to	ADP
cblr-1695	361	61	them	they	PRON
cblr-1695	361	62	by	by	ADP
cblr-1695	361	63	the	the	DET
cblr-1695	361	64	jobs	job	NOUN
cblr-1695	361	65	act	act	PROPN
cblr-1695	361	66	,	,	PUNCT
cblr-1695	361	67	such	such	ADJ
cblr-1695	361	68	as	as	ADP
cblr-1695	361	69	filing	file	VERB
cblr-1695	361	70	a	a	DET
cblr-1695	361	71	confidential	confidential	ADJ
cblr-1695	361	72	drs.124	drs.124	NOUN
cblr-1695	361	73	instead	instead	ADV
cblr-1695	361	74	,	,	PUNCT
cblr-1695	361	75	the	the	DET
cblr-1695	361	76	study	study	NOUN
cblr-1695	361	77	found	find	VERB
cblr-1695	361	78	that	that	SCONJ
cblr-1695	361	79	the	the	DET
cblr-1695	361	80	proportion	proportion	NOUN
cblr-1695	361	81	of	of	ADP
cblr-1695	361	82	ipos	ipos	NOUN
cblr-1695	361	83	from	from	ADP
cblr-1695	361	84	egcs	egcs	PROPN
cblr-1695	361	85	actually	actually	ADV
cblr-1695	361	86	decreased	decrease	VERB
cblr-1695	361	87	from	from	ADP
cblr-1695	361	88	87.6	87.6	NUM
cblr-1695	361	89	%	%	NOUN
cblr-1695	361	90	in	in	ADP
cblr-1695	361	91	the	the	DET
cblr-1695	361	92	pre	pre	ADJ
cblr-1695	361	93	-	-	ADJ
cblr-1695	361	94	jobs	jobs	ADJ
cblr-1695	361	95	act	act	NOUN
cblr-1695	361	96	period	period	NOUN
cblr-1695	361	97	to	to	ADP
cblr-1695	361	98	84.8	84.8	NUM
cblr-1695	361	99	%	%	NOUN
cblr-1695	361	100	in	in	ADP
cblr-1695	361	101	the	the	DET
cblr-1695	361	102	post	post	ADJ
cblr-1695	361	103	-	-	ADJ
cblr-1695	361	104	jobs	job	NOUN
cblr-1695	361	105	act	act	NOUN
cblr-1695	361	106	period.125	period.125	ADV
cblr-1695	361	107	this	this	PRON
cblr-1695	361	108	was	be	AUX
cblr-1695	361	109	contrary	contrary	ADJ
cblr-1695	361	110	to	to	ADP
cblr-1695	361	111	the	the	DET
cblr-1695	361	112	expected	expect	VERB
cblr-1695	361	113	result	result	NOUN
cblr-1695	361	114	;	;	PUNCT
cblr-1695	361	115	because	because	SCONJ
cblr-1695	361	116	of	of	ADP
cblr-1695	361	117	the	the	DET
cblr-1695	361	118	benefits	benefit	NOUN
cblr-1695	361	119	granted	grant	VERB
cblr-1695	361	120	to	to	PART
cblr-1695	361	121	egcs	egcs	VERB
cblr-1695	361	122	through	through	ADP
cblr-1695	361	123	the	the	DET
cblr-1695	361	124	jobs	job	NOUN
cblr-1695	361	125	act	act	PROPN
cblr-1695	361	126	,	,	PUNCT
cblr-1695	361	127	one	one	PRON
cblr-1695	361	128	would	would	AUX
cblr-1695	361	129	expect	expect	VERB
cblr-1695	361	130	that	that	SCONJ
cblr-1695	361	131	egcs	egcs	PROPN
cblr-1695	361	132	would	would	AUX
cblr-1695	361	133	become	become	VERB
cblr-1695	361	134	a	a	DET
cblr-1695	361	135	greater	great	ADJ
cblr-1695	361	136	portion	portion	NOUN
cblr-1695	361	137	of	of	ADP
cblr-1695	361	138	overall	overall	ADJ
cblr-1695	361	139	ipo	ipo	NOUN
cblr-1695	361	140	activity	activity	NOUN
cblr-1695	361	141	.	.	PUNCT
cblr-1695	362	1	from	from	ADP
cblr-1695	362	2	this	this	DET
cblr-1695	362	3	data	datum	NOUN
cblr-1695	362	4	,	,	PUNCT
cblr-1695	362	5	the	the	DET
cblr-1695	362	6	study	study	NOUN
cblr-1695	362	7	concluded	conclude	VERB
cblr-1695	362	8	“	"	PUNCT
cblr-1695	362	9	the	the	DET
cblr-1695	362	10	jobs	job	NOUN
cblr-1695	362	11	act	act	NOUN
cblr-1695	362	12	has	have	AUX
cblr-1695	362	13	not	not	PART
cblr-1695	362	14	had	have	VERB
cblr-1695	362	15	a	a	DET
cblr-1695	362	16	substantial	substantial	ADJ
cblr-1695	362	17	effect	effect	NOUN
cblr-1695	362	18	in	in	ADP
cblr-1695	362	19	increasing	increase	VERB
cblr-1695	362	20	the	the	DET
cblr-1695	362	21	number	number	NOUN
cblr-1695	362	22	of	of	ADP
cblr-1695	362	23	smaller	small	ADJ
cblr-1695	362	24	issuers	issuer	NOUN
cblr-1695	362	25	accessing	access	VERB
cblr-1695	362	26	the	the	DET
cblr-1695	362	27	public	public	ADJ
cblr-1695	362	28	capital	capital	NOUN
cblr-1695	362	29	markets	market	NOUN
cblr-1695	362	30	via	via	ADP
cblr-1695	362	31	an	an	DET
cblr-1695	362	32	ipo	ipo	NOUN
cblr-1695	362	33	.	.	PUNCT
cblr-1695	363	1	”126	”126	PROPN
cblr-1695	363	2	a	a	DET
cblr-1695	363	3	third	third	ADJ
cblr-1695	363	4	study	study	NOUN
cblr-1695	363	5	examined	examine	VERB
cblr-1695	363	6	ipo	ipo	NOUN
cblr-1695	363	7	activity	activity	NOUN
cblr-1695	363	8	in	in	ADP
cblr-1695	363	9	the	the	DET
cblr-1695	363	10	year	year	NOUN
cblr-1695	363	11	2013	2013	NUM
cblr-1695	363	12	,	,	PUNCT
cblr-1695	363	13	the	the	DET
cblr-1695	363	14	first	first	ADJ
cblr-1695	363	15	full	full	ADJ
cblr-1695	363	16	calendar	calendar	NOUN
cblr-1695	363	17	year	year	NOUN
cblr-1695	363	18	the	the	DET
cblr-1695	363	19	jobs	job	NOUN
cblr-1695	363	20	act	act	NOUN
cblr-1695	363	21	was	be	AUX
cblr-1695	363	22	in	in	ADP
cblr-1695	363	23	effect.127	effect.127	NOUN
cblr-1695	363	24	this	this	DET
cblr-1695	363	25	study	study	NOUN
cblr-1695	363	26	found	find	VERB
cblr-1695	363	27	that	that	SCONJ
cblr-1695	363	28	of	of	ADP
cblr-1695	363	29	the	the	DET
cblr-1695	363	30	183	183	NUM
cblr-1695	363	31	ipos	ipos	NOUN
cblr-1695	363	32	in	in	ADP
cblr-1695	363	33	2013	2013	NUM
cblr-1695	363	34	,	,	PUNCT
cblr-1695	363	35	146	146	NUM
cblr-1695	363	36	(	(	PUNCT
cblr-1695	363	37	79.8	79.8	NUM
cblr-1695	363	38	%	%	NOUN
cblr-1695	363	39	)	)	PUNCT
cblr-1695	363	40	were	be	AUX
cblr-1695	363	41	conducted	conduct	VERB
cblr-1695	363	42	by	by	ADP
cblr-1695	363	43	egcs.128	egcs.128	NOUN
cblr-1695	363	44	nonetheless	nonetheless	ADV
cblr-1695	363	45	,	,	PUNCT
cblr-1695	363	46	the	the	DET
cblr-1695	363	47	author	author	NOUN
cblr-1695	363	48	concluded	conclude	VERB
cblr-1695	363	49	that	that	SCONJ
cblr-1695	363	50	,	,	PUNCT
cblr-1695	363	51	although	although	SCONJ
cblr-1695	363	52	2013	2013	NUM
cblr-1695	363	53	saw	see	VERB
cblr-1695	363	54	an	an	DET
cblr-1695	363	55	increase	increase	NOUN
cblr-1695	363	56	in	in	ADP
cblr-1695	363	57	the	the	DET
cblr-1695	363	58	number	number	NOUN
cblr-1695	363	59	of	of	ADP
cblr-1695	363	60	ipos	ipos	NOUN
cblr-1695	363	61	as	as	ADP
cblr-1695	363	62	122	122	NUM
cblr-1695	363	63	i	i	PROPN
cblr-1695	363	64	d.	d.	PROPN
cblr-1695	363	65	at	at	ADP
cblr-1695	363	66	35	35	NUM
cblr-1695	363	67	.	.	PUNCT
cblr-1695	364	1	123	123	NUM
cblr-1695	365	1	i	i	PRON
cblr-1695	365	2	d.	d.	PROPN
cblr-1695	365	3	124	124	NUM
cblr-1695	366	1	i	i	PRON
cblr-1695	366	2	d.	d.	PROPN
cblr-1695	366	3	at	at	ADP
cblr-1695	366	4	4–5	4–5	PROPN
cblr-1695	366	5	.	.	PROPN
cblr-1695	366	6	125	125	NUM
cblr-1695	367	1	i	i	PRON
cblr-1695	367	2	d.	d.	PROPN
cblr-1695	367	3	at	at	ADP
cblr-1695	367	4	36–37	36–37	PROPN
cblr-1695	367	5	.	.	PUNCT
cblr-1695	368	1	of	of	ADP
cblr-1695	368	2	the	the	DET
cblr-1695	368	3	178	178	NUM
cblr-1695	368	4	ipos	ipos	NOUN
cblr-1695	368	5	in	in	ADP
cblr-1695	368	6	the	the	DET
cblr-1695	368	7	pre	pre	ADJ
cblr-1695	368	8	-	-	ADJ
cblr-1695	368	9	jobs	jobs	ADJ
cblr-1695	368	10	act	act	NOUN
cblr-1695	368	11	period	period	NOUN
cblr-1695	368	12	(	(	PUNCT
cblr-1695	368	13	january	january	PROPN
cblr-1695	368	14	1	1	NUM
cblr-1695	368	15	,	,	PUNCT
cblr-1695	368	16	2010	2010	NUM
cblr-1695	368	17	—	—	PUNCT
cblr-1695	368	18	march	march	PROPN
cblr-1695	368	19	31	31	NUM
cblr-1695	368	20	,	,	PUNCT
cblr-1695	368	21	2012	2012	NUM
cblr-1695	368	22	)	)	PUNCT
cblr-1695	368	23	,	,	PUNCT
cblr-1695	368	24	156	156	NUM
cblr-1695	368	25	(	(	PUNCT
cblr-1695	368	26	87.6	87.6	NUM
cblr-1695	368	27	%	%	NOUN
cblr-1695	368	28	)	)	PUNCT
cblr-1695	368	29	were	be	AUX
cblr-1695	368	30	issuers	issuer	NOUN
cblr-1695	368	31	that	that	PRON
cblr-1695	368	32	would	would	AUX
cblr-1695	368	33	have	have	AUX
cblr-1695	368	34	qualified	qualify	VERB
cblr-1695	368	35	as	as	SCONJ
cblr-1695	368	36	egcs	egcs	PROPN
cblr-1695	368	37	had	have	VERB
cblr-1695	368	38	the	the	DET
cblr-1695	368	39	jobs	job	NOUN
cblr-1695	368	40	act	act	NOUN
cblr-1695	368	41	been	be	AUX
cblr-1695	368	42	in	in	ADP
cblr-1695	368	43	place	place	NOUN
cblr-1695	368	44	.	.	PUNCT
cblr-1695	369	1	i	i	PRON
cblr-1695	369	2	d.	d.	PROPN
cblr-1695	369	3	at	at	ADP
cblr-1695	369	4	36	36	NUM
cblr-1695	369	5	tbl.1	tbl.1	NUM
cblr-1695	369	6	.	.	PUNCT
cblr-1695	370	1	of	of	ADP
cblr-1695	370	2	the	the	DET
cblr-1695	370	3	270	270	NUM
cblr-1695	370	4	ipos	ipos	NOUN
cblr-1695	370	5	in	in	ADP
cblr-1695	370	6	the	the	DET
cblr-1695	370	7	post	post	ADJ
cblr-1695	370	8	-	-	ADJ
cblr-1695	370	9	job	job	ADJ
cblr-1695	370	10	act	act	NOUN
cblr-1695	370	11	period	period	NOUN
cblr-1695	370	12	under	under	ADP
cblr-1695	370	13	study	study	NOUN
cblr-1695	370	14	(	(	PUNCT
cblr-1695	370	15	april	april	PROPN
cblr-1695	370	16	1	1	NUM
cblr-1695	370	17	,	,	PUNCT
cblr-1695	370	18	2012	2012	NUM
cblr-1695	370	19	—	—	PUNCT
cblr-1695	370	20	june	june	PROPN
cblr-1695	370	21	30	30	NUM
cblr-1695	370	22	,	,	PUNCT
cblr-1695	370	23	2014	2014	NUM
cblr-1695	370	24	)	)	PUNCT
cblr-1695	370	25	,	,	PUNCT
cblr-1695	370	26	229	229	NUM
cblr-1695	370	27	(	(	PUNCT
cblr-1695	370	28	84.8	84.8	NUM
cblr-1695	370	29	%	%	NOUN
cblr-1695	370	30	)	)	PUNCT
cblr-1695	370	31	qualified	qualified	ADJ
cblr-1695	370	32	as	as	ADP
cblr-1695	370	33	egcs	egcs	ADJ
cblr-1695	370	34	under	under	ADP
cblr-1695	370	35	the	the	DET
cblr-1695	370	36	jobs	job	NOUN
cblr-1695	370	37	act	act	PROPN
cblr-1695	370	38	.	.	PUNCT
cblr-1695	371	1	i	i	PRON
cblr-1695	371	2	d.	d.	PROPN
cblr-1695	371	3	126	126	NUM
cblr-1695	372	1	i	i	PRON
cblr-1695	372	2	d.	d.	PROPN
cblr-1695	372	3	at	at	ADP
cblr-1695	372	4	37	37	NUM
cblr-1695	372	5	.	.	PUNCT
cblr-1695	373	1	127	127	NUM
cblr-1695	373	2	todd	todd	PROPN
cblr-1695	373	3	blakeley	blakeley	PROPN
cblr-1695	373	4	skelton	skelton	PROPN
cblr-1695	373	5	,	,	PUNCT
cblr-1695	373	6	note	note	NOUN
cblr-1695	373	7	,	,	PUNCT
cblr-1695	373	8	2013	2013	NUM
cblr-1695	373	9	jobs	job	NOUN
cblr-1695	373	10	act	act	VERB
cblr-1695	373	11	review	review	NOUN
cblr-1695	373	12	&	&	CCONJ
cblr-1695	373	13	analysis	analysis	NOUN
cblr-1695	373	14	of	of	ADP
cblr-1695	373	15	emerging	emerge	VERB
cblr-1695	373	16	growth	growth	NOUN
cblr-1695	373	17	company	company	NOUN
cblr-1695	373	18	ipos	ipos	NOUN
cblr-1695	373	19	,	,	PUNCT
cblr-1695	373	20	15	15	NUM
cblr-1695	373	21	transactions	transaction	NOUN
cblr-1695	373	22	:	:	PUNCT
cblr-1695	373	23	tenn	tenn	PROPN
cblr-1695	373	24	.	.	PUNCT
cblr-1695	374	1	j.	j.	PROPN
cblr-1695	374	2	bus	bus	PROPN
cblr-1695	374	3	.	.	PUNCT
cblr-1695	375	1	l.	l.	PROPN
cblr-1695	375	2	455	455	NUM
cblr-1695	375	3	,	,	PUNCT
cblr-1695	375	4	490	490	NUM
cblr-1695	375	5	(	(	PUNCT
cblr-1695	375	6	2014	2014	NUM
cblr-1695	375	7	)	)	PUNCT
cblr-1695	375	8	.	.	PUNCT
cblr-1695	376	1	128	128	NUM
cblr-1695	377	1	i	i	PRON
cblr-1695	377	2	d.	d.	PROPN
cblr-1695	377	3	at	at	ADP
cblr-1695	377	4	491	491	NUM
cblr-1695	377	5	.	.	PUNCT
cblr-1695	378	1	no	no	INTJ
cblr-1695	378	2	.	.	PUNCT
cblr-1695	379	1	1:305	1:305	NUM
cblr-1695	379	2	]	]	X
cblr-1695	379	3	going	go	VERB
cblr-1695	379	4	public	public	ADJ
cblr-1695	379	5	secretly	secretly	ADV
cblr-1695	379	6	329	329	NUM
cblr-1695	379	7	compared	compare	VERB
cblr-1695	379	8	to	to	ADP
cblr-1695	379	9	previous	previous	ADJ
cblr-1695	379	10	years	year	NOUN
cblr-1695	379	11	,	,	PUNCT
cblr-1695	379	12	the	the	DET
cblr-1695	379	13	data	datum	NOUN
cblr-1695	379	14	did	do	AUX
cblr-1695	379	15	not	not	PART
cblr-1695	379	16	indicate	indicate	VERB
cblr-1695	379	17	whether	whether	SCONJ
cblr-1695	379	18	this	this	DET
cblr-1695	379	19	increase	increase	NOUN
cblr-1695	379	20	was	be	AUX
cblr-1695	379	21	due	due	ADJ
cblr-1695	379	22	to	to	ADP
cblr-1695	379	23	the	the	DET
cblr-1695	379	24	jobs	job	NOUN
cblr-1695	379	25	act.129	act.129	VERB
cblr-1695	379	26	instead	instead	ADV
cblr-1695	379	27	,	,	PUNCT
cblr-1695	379	28	the	the	DET
cblr-1695	379	29	study	study	NOUN
cblr-1695	379	30	found	find	VERB
cblr-1695	379	31	that	that	SCONJ
cblr-1695	379	32	several	several	ADJ
cblr-1695	379	33	other	other	ADJ
cblr-1695	379	34	factors	factor	NOUN
cblr-1695	379	35	could	could	AUX
cblr-1695	379	36	have	have	AUX
cblr-1695	379	37	played	play	VERB
cblr-1695	379	38	a	a	DET
cblr-1695	379	39	significant	significant	ADJ
cblr-1695	379	40	role	role	NOUN
cblr-1695	379	41	in	in	ADP
cblr-1695	379	42	this	this	DET
cblr-1695	379	43	increase	increase	NOUN
cblr-1695	379	44	,	,	PUNCT
cblr-1695	379	45	including	include	VERB
cblr-1695	379	46	market	market	NOUN
cblr-1695	379	47	factors	factor	NOUN
cblr-1695	379	48	such	such	ADJ
cblr-1695	379	49	as	as	ADP
cblr-1695	379	50	“	"	PUNCT
cblr-1695	379	51	record	record	ADJ
cblr-1695	379	52	high	high	ADJ
cblr-1695	379	53	levels	level	NOUN
cblr-1695	379	54	for	for	ADP
cblr-1695	379	55	the	the	DET
cblr-1695	379	56	s&p	s&p	PROPN
cblr-1695	379	57	500	500	NUM
cblr-1695	379	58	and	and	CCONJ
cblr-1695	379	59	dow	dow	PROPN
cblr-1695	379	60	jones	jones	PROPN
cblr-1695	379	61	industrial	industrial	PROPN
cblr-1695	379	62	average	average	ADJ
cblr-1695	379	63	indexes	index	NOUN
cblr-1695	379	64	,	,	PUNCT
cblr-1695	379	65	quantitative	quantitative	ADJ
cblr-1695	379	66	easing	easing	NOUN
cblr-1695	379	67	and	and	CCONJ
cblr-1695	379	68	monetary	monetary	ADJ
cblr-1695	379	69	policy	policy	NOUN
cblr-1695	379	70	decisions	decision	NOUN
cblr-1695	379	71	by	by	ADP
cblr-1695	379	72	the	the	DET
cblr-1695	379	73	federal	federal	PROPN
cblr-1695	379	74	reserve	reserve	PROPN
cblr-1695	379	75	and	and	CCONJ
cblr-1695	379	76	other	other	ADJ
cblr-1695	379	77	central	central	ADJ
cblr-1695	379	78	banks	bank	NOUN
cblr-1695	379	79	,	,	PUNCT
cblr-1695	379	80	investor	investor	NOUN
cblr-1695	379	81	appetite	appetite	NOUN
cblr-1695	379	82	for	for	ADP
cblr-1695	379	83	new	new	ADJ
cblr-1695	379	84	debt	debt	NOUN
cblr-1695	379	85	and	and	CCONJ
cblr-1695	379	86	equity	equity	NOUN
cblr-1695	379	87	issues	issue	NOUN
cblr-1695	379	88	,	,	PUNCT
cblr-1695	379	89	”	"	PUNCT
cblr-1695	379	90	and	and	CCONJ
cblr-1695	379	91	several	several	ADJ
cblr-1695	379	92	other	other	ADJ
cblr-1695	379	93	macroeconomic	macroeconomic	ADJ
cblr-1695	379	94	factors.130	factors.130	NOUN
cblr-1695	379	95	finally	finally	ADV
cblr-1695	379	96	,	,	PUNCT
cblr-1695	379	97	the	the	DET
cblr-1695	379	98	2017	2017	NUM
cblr-1695	379	99	ipo	ipo	NOUN
cblr-1695	379	100	report	report	NOUN
cblr-1695	379	101	,	,	PUNCT
cblr-1695	379	102	published	publish	VERB
cblr-1695	379	103	by	by	ADP
cblr-1695	379	104	the	the	DET
cblr-1695	379	105	harvard	harvard	PROPN
cblr-1695	379	106	law	law	PROPN
cblr-1695	379	107	school	school	NOUN
cblr-1695	379	108	forum	forum	NOUN
cblr-1695	379	109	on	on	ADP
cblr-1695	379	110	corporate	corporate	ADJ
cblr-1695	379	111	governance	governance	NOUN
cblr-1695	379	112	and	and	CCONJ
cblr-1695	379	113	financial	financial	ADJ
cblr-1695	379	114	regulation	regulation	NOUN
cblr-1695	379	115	,	,	PUNCT
cblr-1695	379	116	further	far	ADV
cblr-1695	379	117	discusses	discuss	VERB
cblr-1695	379	118	the	the	DET
cblr-1695	379	119	relationship	relationship	NOUN
cblr-1695	379	120	of	of	ADP
cblr-1695	379	121	the	the	DET
cblr-1695	379	122	jobs	job	NOUN
cblr-1695	379	123	act	act	VERB
cblr-1695	379	124	to	to	ADP
cblr-1695	379	125	ipo	ipo	PROPN
cblr-1695	379	126	activity.131	activity.131	PROPN
cblr-1695	379	127	this	this	DET
cblr-1695	379	128	report	report	NOUN
cblr-1695	379	129	states	state	VERB
cblr-1695	379	130	that	that	SCONJ
cblr-1695	379	131	eighty	eighty	NUM
cblr-1695	379	132	-	-	PUNCT
cblr-1695	379	133	five	five	NUM
cblr-1695	379	134	percent	percent	NOUN
cblr-1695	379	135	of	of	ADP
cblr-1695	379	136	all	all	DET
cblr-1695	379	137	ipos	ipos	NOUN
cblr-1695	379	138	since	since	SCONJ
cblr-1695	379	139	the	the	DET
cblr-1695	379	140	enactment	enactment	NOUN
cblr-1695	379	141	of	of	ADP
cblr-1695	379	142	the	the	DET
cblr-1695	379	143	jobs	job	NOUN
cblr-1695	379	144	act	act	NOUN
cblr-1695	379	145	were	be	AUX
cblr-1695	379	146	conducted	conduct	VERB
cblr-1695	379	147	by	by	ADP
cblr-1695	379	148	egcs.132	egcs.132	NOUN
cblr-1695	379	149	however	however	ADV
cblr-1695	379	150	,	,	PUNCT
cblr-1695	379	151	it	it	PRON
cblr-1695	379	152	also	also	ADV
cblr-1695	379	153	states	state	VERB
cblr-1695	379	154	that	that	SCONJ
cblr-1695	379	155	“	"	PUNCT
cblr-1695	379	156	[	[	X
cblr-1695	379	157	a]lthough	a]lthough	ADP
cblr-1695	379	158	it	it	PRON
cblr-1695	379	159	was	be	AUX
cblr-1695	379	160	intended	intend	VERB
cblr-1695	379	161	to	to	PART
cblr-1695	379	162	encourage	encourage	VERB
cblr-1695	379	163	egcs	egcs	NOUN
cblr-1695	379	164	to	to	PART
cblr-1695	379	165	go	go	VERB
cblr-1695	379	166	public	public	ADJ
cblr-1695	379	167	,	,	PUNCT
cblr-1695	379	168	the	the	DET
cblr-1695	379	169	jobs	job	NOUN
cblr-1695	379	170	act	act	NOUN
cblr-1695	379	171	—	—	PUNCT
cblr-1695	379	172	combined	combine	VERB
cblr-1695	379	173	with	with	ADP
cblr-1695	379	174	other	other	ADJ
cblr-1695	379	175	regulatory	regulatory	ADJ
cblr-1695	379	176	and	and	CCONJ
cblr-1695	379	177	market	market	NOUN
cblr-1695	379	178	changes	change	NOUN
cblr-1695	379	179	—	—	PUNCT
cblr-1695	379	180	has	have	AUX
cblr-1695	379	181	made	make	VERB
cblr-1695	379	182	it	it	PRON
cblr-1695	379	183	easier	easy	ADJ
cblr-1695	379	184	for	for	SCONJ
cblr-1695	379	185	egcs	egcs	NOUN
cblr-1695	379	186	to	to	PART
cblr-1695	379	187	stay	stay	VERB
cblr-1695	379	188	private	private	ADJ
cblr-1695	379	189	longer	long	ADV
cblr-1695	379	190	and	and	CCONJ
cblr-1695	379	191	has	have	AUX
cblr-1695	379	192	provided	provide	VERB
cblr-1695	379	193	them	they	PRON
cblr-1695	379	194	with	with	ADP
cblr-1695	379	195	greater	great	ADJ
cblr-1695	379	196	flexibility	flexibility	NOUN
cblr-1695	379	197	in	in	ADP
cblr-1695	379	198	timing	time	VERB
cblr-1695	379	199	their	their	PRON
cblr-1695	379	200	ipos	ipos	NOUN
cblr-1695	379	201	.	.	PUNCT
cblr-1695	380	1	”133	”133	VERB
cblr-1695	380	2	in	in	ADP
cblr-1695	380	3	other	other	ADJ
cblr-1695	380	4	words	word	NOUN
cblr-1695	380	5	,	,	PUNCT
cblr-1695	380	6	this	this	PRON
cblr-1695	380	7	suggests	suggest	VERB
cblr-1695	380	8	that	that	SCONJ
cblr-1695	380	9	the	the	DET
cblr-1695	380	10	jobs	job	NOUN
cblr-1695	380	11	act	act	NOUN
cblr-1695	380	12	has	have	AUX
cblr-1695	380	13	arguably	arguably	ADV
cblr-1695	380	14	had	have	VERB
cblr-1695	380	15	the	the	DET
cblr-1695	380	16	opposite	opposite	ADJ
cblr-1695	380	17	effect	effect	NOUN
cblr-1695	380	18	of	of	ADP
cblr-1695	380	19	its	its	PRON
cblr-1695	380	20	stated	state	VERB
cblr-1695	380	21	goal	goal	NOUN
cblr-1695	380	22	because	because	SCONJ
cblr-1695	380	23	allowing	allow	VERB
cblr-1695	380	24	egcs	egcs	NOUN
cblr-1695	380	25	to	to	PART
cblr-1695	380	26	confidentially	confidentially	ADV
cblr-1695	380	27	file	file	VERB
cblr-1695	380	28	drss	drss	NOUN
cblr-1695	380	29	encourages	encourage	VERB
cblr-1695	380	30	them	they	PRON
cblr-1695	380	31	to	to	PART
cblr-1695	380	32	remain	remain	VERB
cblr-1695	380	33	private	private	ADJ
cblr-1695	380	34	for	for	ADP
cblr-1695	380	35	longer	long	ADJ
cblr-1695	380	36	than	than	SCONJ
cblr-1695	380	37	they	they	PRON
cblr-1695	380	38	would	would	AUX
cblr-1695	380	39	have	have	VERB
cblr-1695	380	40	in	in	ADP
cblr-1695	380	41	the	the	DET
cblr-1695	380	42	absence	absence	NOUN
cblr-1695	380	43	of	of	ADP
cblr-1695	380	44	this	this	DET
cblr-1695	380	45	privilege.134	privilege.134	NOUN
cblr-1695	380	46	this	this	DET
cblr-1695	380	47	sampling	sampling	NOUN
cblr-1695	380	48	of	of	ADP
cblr-1695	380	49	the	the	DET
cblr-1695	380	50	literature	literature	NOUN
cblr-1695	380	51	shows	show	VERB
cblr-1695	380	52	that	that	SCONJ
cblr-1695	380	53	it	it	PRON
cblr-1695	380	54	is	be	AUX
cblr-1695	380	55	inconclusive	inconclusive	ADJ
cblr-1695	380	56	whether	whether	SCONJ
cblr-1695	380	57	the	the	DET
cblr-1695	380	58	jobs	job	NOUN
cblr-1695	380	59	act	act	NOUN
cblr-1695	380	60	has	have	AUX
cblr-1695	380	61	succeeded	succeed	VERB
cblr-1695	380	62	in	in	ADP
cblr-1695	380	63	increasing	increase	VERB
cblr-1695	380	64	access	access	NOUN
cblr-1695	380	65	to	to	ADP
cblr-1695	380	66	the	the	DET
cblr-1695	380	67	capital	capital	NOUN
cblr-1695	380	68	markets	market	NOUN
cblr-1695	380	69	and	and	CCONJ
cblr-1695	380	70	,	,	PUNCT
cblr-1695	380	71	in	in	ADP
cblr-1695	380	72	turn	turn	NOUN
cblr-1695	380	73	,	,	PUNCT
cblr-1695	380	74	egc	egc	ADJ
cblr-1695	380	75	ipos	ipos	PROPN
cblr-1695	380	76	.	.	PUNCT
cblr-1695	381	1	while	while	SCONJ
cblr-1695	381	2	some	some	DET
cblr-1695	381	3	studies	study	NOUN
cblr-1695	381	4	show	show	VERB
cblr-1695	381	5	the	the	DET
cblr-1695	381	6	jobs	job	NOUN
cblr-1695	381	7	act	act	NOUN
cblr-1695	381	8	resulted	result	VERB
cblr-1695	381	9	in	in	ADP
cblr-1695	381	10	modest	modest	ADJ
cblr-1695	381	11	increases	increase	NOUN
cblr-1695	381	12	in	in	ADP
cblr-1695	381	13	129	129	NUM
cblr-1695	381	14	i	i	PROPN
cblr-1695	381	15	d.	d.	NOUN
cblr-1695	381	16	at	at	ADP
cblr-1695	381	17	495	495	NUM
cblr-1695	381	18	.	.	PUNCT
cblr-1695	382	1	130	130	NUM
cblr-1695	383	1	i	i	PRON
cblr-1695	383	2	d.	d.	PROPN
cblr-1695	383	3	131	131	NUM
cblr-1695	383	4	see	see	VERB
cblr-1695	383	5	marderosian	marderosian	ADJ
cblr-1695	383	6	,	,	PUNCT
cblr-1695	383	7	supra	supra	ADJ
cblr-1695	383	8	note	note	NOUN
cblr-1695	383	9	106	106	NUM
cblr-1695	383	10	.	.	PUNCT
cblr-1695	384	1	132	132	NUM
cblr-1695	385	1	i	i	NOUN
cblr-1695	385	2	d.	d.	PROPN
cblr-1695	385	3	133	133	NUM
cblr-1695	386	1	i	i	PROPN
cblr-1695	386	2	d.	d.	PROPN
cblr-1695	386	3	134	134	NUM
cblr-1695	386	4	see	see	VERB
cblr-1695	386	5	joseph	joseph	PROPN
cblr-1695	386	6	h.	h.	PROPN
cblr-1695	386	7	kaufman	kaufman	PROPN
cblr-1695	386	8	,	,	PUNCT
cblr-1695	386	9	partner	partner	NOUN
cblr-1695	386	10	,	,	PUNCT
cblr-1695	386	11	simpson	simpson	PROPN
cblr-1695	386	12	thacher	thacher	PROPN
cblr-1695	386	13	&	&	CCONJ
cblr-1695	386	14	bartlett	bartlett	PROPN
cblr-1695	386	15	llp	llp	PROPN
cblr-1695	386	16	,	,	PUNCT
cblr-1695	386	17	deregulating	deregulate	VERB
cblr-1695	386	18	the	the	DET
cblr-1695	386	19	markets	market	NOUN
cblr-1695	386	20	:	:	PUNCT
cblr-1695	386	21	the	the	DET
cblr-1695	386	22	jobs	job	NOUN
cblr-1695	386	23	act	act	PROPN
cblr-1695	386	24	,	,	PUNCT
cblr-1695	386	25	panel	panel	NOUN
cblr-1695	386	26	at	at	ADP
cblr-1695	386	27	the	the	DET
cblr-1695	386	28	2012	2012	NUM
cblr-1695	386	29	national	national	ADJ
cblr-1695	386	30	lawyers	lawyer	NOUN
cblr-1695	386	31	convention	convention	PROPN
cblr-1695	386	32	,	,	PUNCT
cblr-1695	386	33	in	in	ADP
cblr-1695	386	34	38	38	NUM
cblr-1695	386	35	del	del	PROPN
cblr-1695	386	36	.	.	PROPN
cblr-1695	386	37	j.	j.	PROPN
cblr-1695	386	38	corp	corp	PROPN
cblr-1695	386	39	l.	l.	PROPN
cblr-1695	386	40	476	476	NUM
cblr-1695	386	41	,	,	PUNCT
cblr-1695	386	42	494	494	NUM
cblr-1695	386	43	(	(	PUNCT
cblr-1695	386	44	2013	2013	NUM
cblr-1695	386	45	)	)	PUNCT
cblr-1695	386	46	(	(	PUNCT
cblr-1695	386	47	discussing	discuss	VERB
cblr-1695	386	48	how	how	SCONJ
cblr-1695	386	49	the	the	DET
cblr-1695	386	50	jobs	job	NOUN
cblr-1695	386	51	act	act	VERB
cblr-1695	386	52	confidential	confidential	ADJ
cblr-1695	386	53	registration	registration	NOUN
cblr-1695	386	54	provision	provision	NOUN
cblr-1695	386	55	allows	allow	VERB
cblr-1695	386	56	companies	company	NOUN
cblr-1695	386	57	to	to	PART
cblr-1695	386	58	“	"	PUNCT
cblr-1695	386	59	get	get	VERB
cblr-1695	386	60	ready	ready	ADJ
cblr-1695	386	61	to	to	PART
cblr-1695	386	62	[	[	PUNCT
cblr-1695	386	63	conduct	conduct	VERB
cblr-1695	386	64	an	an	DET
cblr-1695	386	65	ipo	ipo	NOUN
cblr-1695	386	66	]	]	PUNCT
cblr-1695	386	67	but	but	CCONJ
cblr-1695	386	68	not	not	PART
cblr-1695	386	69	make	make	VERB
cblr-1695	386	70	a	a	DET
cblr-1695	386	71	decision	decision	NOUN
cblr-1695	386	72	to	to	PART
cblr-1695	386	73	come	come	VERB
cblr-1695	386	74	out	out	ADP
cblr-1695	386	75	into	into	ADP
cblr-1695	386	76	the	the	DET
cblr-1695	386	77	light	light	NOUN
cblr-1695	386	78	until	until	SCONJ
cblr-1695	386	79	it	it	PRON
cblr-1695	386	80	looks	look	VERB
cblr-1695	386	81	like	like	SCONJ
cblr-1695	386	82	market	market	NOUN
cblr-1695	386	83	conditions	condition	NOUN
cblr-1695	386	84	will	will	AUX
cblr-1695	386	85	be	be	AUX
cblr-1695	386	86	strong	strong	ADJ
cblr-1695	386	87	[	[	X
cblr-1695	386	88	.	.	X
cblr-1695	386	89	]	]	X
cblr-1695	386	90	”	"	PUNCT
cblr-1695	386	91	)	)	PUNCT
cblr-1695	386	92	;	;	PUNCT
cblr-1695	386	93	see	see	VERB
cblr-1695	386	94	also	also	ADV
cblr-1695	386	95	infra	infra	NOUN
cblr-1695	386	96	notes	note	VERB
cblr-1695	386	97	168–70	168–70	PROPN
cblr-1695	386	98	and	and	CCONJ
cblr-1695	386	99	accompanying	accompany	VERB
cblr-1695	386	100	text	text	NOUN
cblr-1695	386	101	.	.	PUNCT
cblr-1695	387	1	330	330	NUM
cblr-1695	387	2	columbia	columbia	PROPN
cblr-1695	387	3	business	business	NOUN
cblr-1695	387	4	law	law	NOUN
cblr-1695	387	5	review	review	NOUN
cblr-1695	387	6	[	[	X
cblr-1695	387	7	vol	vol	NOUN
cblr-1695	387	8	.	.	NOUN
cblr-1695	387	9	2019	2019	NUM
cblr-1695	387	10	ipo	ipo	NOUN
cblr-1695	387	11	activity	activity	NOUN
cblr-1695	387	12	,	,	PUNCT
cblr-1695	387	13	others	other	NOUN
cblr-1695	387	14	find	find	VERB
cblr-1695	387	15	it	it	PRON
cblr-1695	387	16	did	do	AUX
cblr-1695	387	17	not	not	PART
cblr-1695	387	18	affect	affect	VERB
cblr-1695	387	19	ipo	ipo	NOUN
cblr-1695	387	20	activity	activity	NOUN
cblr-1695	387	21	at	at	ADV
cblr-1695	387	22	all	all	ADV
cblr-1695	387	23	.	.	PUNCT
cblr-1695	388	1	still	still	ADV
cblr-1695	388	2	other	other	ADJ
cblr-1695	388	3	reports	report	NOUN
cblr-1695	388	4	argue	argue	VERB
cblr-1695	388	5	that	that	SCONJ
cblr-1695	388	6	,	,	PUNCT
cblr-1695	388	7	contrary	contrary	ADV
cblr-1695	388	8	to	to	ADP
cblr-1695	388	9	its	its	PRON
cblr-1695	388	10	stated	stated	ADJ
cblr-1695	388	11	goal	goal	NOUN
cblr-1695	388	12	,	,	PUNCT
cblr-1695	388	13	the	the	DET
cblr-1695	388	14	jobs	job	NOUN
cblr-1695	388	15	act	act	NOUN
cblr-1695	388	16	has	have	AUX
cblr-1695	388	17	had	have	VERB
cblr-1695	388	18	a	a	DET
cblr-1695	388	19	negative	negative	ADJ
cblr-1695	388	20	effect	effect	NOUN
cblr-1695	388	21	on	on	ADP
cblr-1695	388	22	ipo	ipo	NOUN
cblr-1695	388	23	activity	activity	NOUN
cblr-1695	388	24	.	.	PUNCT
cblr-1695	389	1	b.	b.	PROPN
cblr-1695	389	2	empirical	empirical	ADJ
cblr-1695	389	3	study	study	NOUN
cblr-1695	389	4	analyzing	analyze	VERB
cblr-1695	389	5	the	the	DET
cblr-1695	389	6	july	july	PROPN
cblr-1695	389	7	2017	2017	NUM
cblr-1695	389	8	change	change	NOUN
cblr-1695	389	9	despite	despite	SCONJ
cblr-1695	389	10	the	the	DET
cblr-1695	389	11	uncertainty	uncertainty	NOUN
cblr-1695	389	12	over	over	ADP
cblr-1695	389	13	whether	whether	SCONJ
cblr-1695	389	14	the	the	DET
cblr-1695	389	15	jobs	job	NOUN
cblr-1695	389	16	act	act	NOUN
cblr-1695	389	17	has	have	AUX
cblr-1695	389	18	succeeded,135	succeeded,135	PROPN
cblr-1695	389	19	the	the	DET
cblr-1695	389	20	july	july	PROPN
cblr-1695	389	21	2017	2017	NUM
cblr-1695	389	22	change	change	NOUN
cblr-1695	389	23	expanded	expand	VERB
cblr-1695	389	24	the	the	DET
cblr-1695	389	25	confidential	confidential	ADJ
cblr-1695	389	26	drs	drs	ADJ
cblr-1695	389	27	policy	policy	NOUN
cblr-1695	389	28	to	to	ADP
cblr-1695	389	29	all	all	DET
cblr-1695	389	30	companies	company	NOUN
cblr-1695	389	31	in	in	ADP
cblr-1695	389	32	an	an	DET
cblr-1695	389	33	effort	effort	NOUN
cblr-1695	389	34	to	to	PART
cblr-1695	389	35	do	do	AUX
cblr-1695	389	36	the	the	DET
cblr-1695	389	37	very	very	ADJ
cblr-1695	389	38	thing	thing	NOUN
cblr-1695	389	39	the	the	DET
cblr-1695	389	40	jobs	job	NOUN
cblr-1695	389	41	act	act	NOUN
cblr-1695	389	42	had	have	AUX
cblr-1695	389	43	not	not	PART
cblr-1695	389	44	conclusively	conclusively	ADV
cblr-1695	389	45	done	do	VERB
cblr-1695	389	46	:	:	PUNCT
cblr-1695	389	47	increase	increase	VERB
cblr-1695	389	48	ipo	ipo	NOUN
cblr-1695	389	49	activity	activity	NOUN
cblr-1695	389	50	and	and	CCONJ
cblr-1695	389	51	access	access	NOUN
cblr-1695	389	52	to	to	ADP
cblr-1695	389	53	the	the	DET
cblr-1695	389	54	capital	capital	NOUN
cblr-1695	389	55	markets	market	NOUN
cblr-1695	389	56	.	.	PUNCT
cblr-1695	390	1	the	the	DET
cblr-1695	390	2	filing	filing	NOUN
cblr-1695	390	3	of	of	ADP
cblr-1695	390	4	a	a	DET
cblr-1695	390	5	public	public	ADJ
cblr-1695	390	6	registration	registration	NOUN
cblr-1695	390	7	document	document	NOUN
cblr-1695	390	8	has	have	AUX
cblr-1695	390	9	been	be	AUX
cblr-1695	390	10	a	a	DET
cblr-1695	390	11	foundational	foundational	ADJ
cblr-1695	390	12	prerequisite	prerequisite	NOUN
cblr-1695	390	13	for	for	ADP
cblr-1695	390	14	going	go	VERB
cblr-1695	390	15	public	public	ADJ
cblr-1695	390	16	since	since	SCONJ
cblr-1695	390	17	the	the	DET
cblr-1695	390	18	passing	passing	NOUN
cblr-1695	390	19	of	of	ADP
cblr-1695	390	20	the	the	DET
cblr-1695	390	21	1933	1933	NUM
cblr-1695	390	22	act.136	act.136	VERB
cblr-1695	390	23	indeed	indeed	ADV
cblr-1695	390	24	,	,	PUNCT
cblr-1695	390	25	“	"	PUNCT
cblr-1695	390	26	[	[	X
cblr-1695	390	27	t]he	t]he	ADJ
cblr-1695	390	28	securities	security	NOUN
cblr-1695	390	29	act	act	NOUN
cblr-1695	390	30	of	of	ADP
cblr-1695	390	31	1933	1933	NUM
cblr-1695	390	32	was	be	AUX
cblr-1695	390	33	primarily	primarily	ADV
cblr-1695	390	34	designed	design	VERB
cblr-1695	390	35	to	to	PART
cblr-1695	390	36	provide	provide	VERB
cblr-1695	390	37	disclosure	disclosure	NOUN
cblr-1695	390	38	for	for	ADP
cblr-1695	390	39	the	the	DET
cblr-1695	390	40	investing	invest	VERB
cblr-1695	390	41	public	public	NOUN
cblr-1695	390	42	in	in	ADP
cblr-1695	390	43	connection	connection	NOUN
cblr-1695	390	44	with	with	ADP
cblr-1695	390	45	new	new	ADJ
cblr-1695	390	46	issues	issue	NOUN
cblr-1695	390	47	of	of	ADP
cblr-1695	390	48	securities	security	NOUN
cblr-1695	390	49	.	.	PUNCT
cblr-1695	390	50	”137	”137	PUNCT
cblr-1695	391	1	now	now	ADV
cblr-1695	391	2	,	,	PUNCT
cblr-1695	391	3	as	as	ADP
cblr-1695	391	4	a	a	DET
cblr-1695	391	5	result	result	NOUN
cblr-1695	391	6	of	of	ADP
cblr-1695	391	7	the	the	DET
cblr-1695	391	8	july	july	PROPN
cblr-1695	391	9	2017	2017	NUM
cblr-1695	391	10	change	change	NOUN
cblr-1695	391	11	,	,	PUNCT
cblr-1695	391	12	public	public	ADJ
cblr-1695	391	13	disclosure	disclosure	NOUN
cblr-1695	391	14	—	—	PUNCT
cblr-1695	391	15	a	a	DET
cblr-1695	391	16	bedrock	bedrock	NOUN
cblr-1695	391	17	principle	principle	NOUN
cblr-1695	391	18	of	of	ADP
cblr-1695	391	19	securities	security	NOUN
cblr-1695	391	20	regulation	regulation	NOUN
cblr-1695	391	21	—	—	PUNCT
cblr-1695	391	22	must	must	AUX
cblr-1695	391	23	occur	occur	VERB
cblr-1695	391	24	only	only	ADV
cblr-1695	391	25	fifteen	fifteen	NUM
cblr-1695	391	26	days	day	NOUN
cblr-1695	391	27	before	before	SCONJ
cblr-1695	391	28	an	an	DET
cblr-1695	391	29	issuer	issuer	NOUN
cblr-1695	391	30	’s	’s	PART
cblr-1695	391	31	road	road	NOUN
cblr-1695	391	32	show.138	show.138	VERB
cblr-1695	391	33	such	such	DET
cblr-1695	391	34	a	a	DET
cblr-1695	391	35	drastic	drastic	ADJ
cblr-1695	391	36	change	change	NOUN
cblr-1695	391	37	to	to	ADP
cblr-1695	391	38	disclosure	disclosure	NOUN
cblr-1695	391	39	warrants	warrant	NOUN
cblr-1695	391	40	analysis	analysis	NOUN
cblr-1695	391	41	to	to	PART
cblr-1695	391	42	understand	understand	VERB
cblr-1695	391	43	if	if	SCONJ
cblr-1695	391	44	it	it	PRON
cblr-1695	391	45	justified	justify	VERB
cblr-1695	391	46	.	.	PUNCT
cblr-1695	392	1	1	1	X
cblr-1695	392	2	.	.	X
cblr-1695	392	3	methodology	methodology	NOUN
cblr-1695	392	4	the	the	DET
cblr-1695	392	5	author	author	NOUN
cblr-1695	392	6	of	of	ADP
cblr-1695	392	7	this	this	DET
cblr-1695	392	8	note	note	NOUN
cblr-1695	392	9	conducted	conduct	VERB
cblr-1695	392	10	an	an	DET
cblr-1695	392	11	empirical	empirical	ADJ
cblr-1695	392	12	study	study	NOUN
cblr-1695	392	13	in	in	ADP
cblr-1695	392	14	order	order	NOUN
cblr-1695	392	15	to	to	PART
cblr-1695	392	16	evaluate	evaluate	VERB
cblr-1695	392	17	the	the	DET
cblr-1695	392	18	success	success	NOUN
cblr-1695	392	19	of	of	ADP
cblr-1695	392	20	the	the	DET
cblr-1695	392	21	july	july	PROPN
cblr-1695	392	22	2017	2017	NUM
cblr-1695	392	23	change	change	NOUN
cblr-1695	392	24	and	and	CCONJ
cblr-1695	392	25	to	to	PART
cblr-1695	392	26	determine	determine	VERB
cblr-1695	392	27	the	the	DET
cblr-1695	392	28	effect	effect	NOUN
cblr-1695	392	29	,	,	PUNCT
cblr-1695	392	30	if	if	SCONJ
cblr-1695	392	31	any	any	PRON
cblr-1695	392	32	,	,	PUNCT
cblr-1695	392	33	it	it	PRON
cblr-1695	392	34	has	have	AUX
cblr-1695	392	35	had	have	VERB
cblr-1695	392	36	on	on	ADP
cblr-1695	392	37	the	the	DET
cblr-1695	392	38	capital	capital	NOUN
cblr-1695	392	39	markets	market	NOUN
cblr-1695	392	40	and	and	CCONJ
cblr-1695	392	41	ipo	ipo	NOUN
cblr-1695	392	42	activity	activity	NOUN
cblr-1695	392	43	.	.	PUNCT
cblr-1695	393	1	the	the	DET
cblr-1695	393	2	study	study	NOUN
cblr-1695	393	3	examines	examine	VERB
cblr-1695	393	4	ipo	ipo	NOUN
cblr-1695	393	5	activity	activity	NOUN
cblr-1695	393	6	in	in	ADP
cblr-1695	393	7	the	the	DET
cblr-1695	393	8	united	united	PROPN
cblr-1695	393	9	states	states	PROPN
cblr-1695	393	10	from	from	ADP
cblr-1695	393	11	january	january	PROPN
cblr-1695	393	12	1	1	NUM
cblr-1695	393	13	,	,	PUNCT
cblr-1695	393	14	2015	2015	NUM
cblr-1695	393	15	through	through	ADP
cblr-1695	393	16	july	july	PROPN
cblr-1695	393	17	9	9	NUM
cblr-1695	393	18	,	,	PUNCT
cblr-1695	393	19	2018	2018	NUM
cblr-1695	393	20	.	.	PUNCT
cblr-1695	394	1	this	this	DET
cblr-1695	394	2	results	result	VERB
cblr-1695	394	3	in	in	ADP
cblr-1695	394	4	a	a	DET
cblr-1695	394	5	data	data	NOUN
cblr-1695	394	6	set	set	VERB
cblr-1695	394	7	that	that	PRON
cblr-1695	394	8	captures	capture	VERB
cblr-1695	394	9	roughly	roughly	ADV
cblr-1695	394	10	two	two	NUM
cblr-1695	394	11	-	-	PUNCT
cblr-1695	394	12	and	and	CCONJ
cblr-1695	394	13	-	-	PUNCT
cblr-1695	394	14	onehalf	onehalf	NOUN
cblr-1695	394	15	years	year	NOUN
cblr-1695	394	16	prior	prior	ADV
cblr-1695	394	17	to	to	ADP
cblr-1695	394	18	the	the	DET
cblr-1695	394	19	change	change	NOUN
cblr-1695	394	20	(	(	PUNCT
cblr-1695	394	21	january	january	PROPN
cblr-1695	394	22	1	1	NUM
cblr-1695	394	23	,	,	PUNCT
cblr-1695	394	24	2015	2015	NUM
cblr-1695	394	25	–	–	PUNCT
cblr-1695	394	26	july	july	PROPN
cblr-1695	394	27	9	9	NUM
cblr-1695	394	28	,	,	PUNCT
cblr-1695	394	29	2017	2017	NUM
cblr-1695	394	30	)	)	PUNCT
cblr-1695	394	31	,	,	PUNCT
cblr-1695	394	32	as	as	ADV
cblr-1695	394	33	well	well	ADV
cblr-1695	394	34	as	as	ADP
cblr-1695	394	35	the	the	DET
cblr-1695	394	36	first	first	ADJ
cblr-1695	394	37	year	year	NOUN
cblr-1695	394	38	after	after	ADP
cblr-1695	394	39	the	the	DET
cblr-1695	394	40	change	change	NOUN
cblr-1695	394	41	(	(	PUNCT
cblr-1695	394	42	july	july	PROPN
cblr-1695	394	43	10	10	NUM
cblr-1695	394	44	,	,	PUNCT
cblr-1695	394	45	2017	2017	NUM
cblr-1695	394	46	–	–	PUNCT
cblr-1695	394	47	july	july	PROPN
cblr-1695	394	48	9	9	NUM
cblr-1695	394	49	,	,	PUNCT
cblr-1695	394	50	2018	2018	NUM
cblr-1695	394	51	)	)	PUNCT
cblr-1695	394	52	.	.	PUNCT
cblr-1695	395	1	135	135	NUM
cblr-1695	395	2	see	see	VERB
cblr-1695	395	3	supra	supra	PROPN
cblr-1695	395	4	section	section	PROPN
cblr-1695	395	5	iii.a	iii.a	PROPN
cblr-1695	395	6	.	.	PROPN
cblr-1695	396	1	136	136	NUM
cblr-1695	396	2	see	see	VERB
cblr-1695	396	3	securities	security	NOUN
cblr-1695	396	4	act	act	NOUN
cblr-1695	396	5	of	of	ADP
cblr-1695	396	6	1933	1933	NUM
cblr-1695	396	7	§	§	PROPN
cblr-1695	396	8	5	5	NUM
cblr-1695	396	9	,	,	PUNCT
cblr-1695	396	10	15	15	NUM
cblr-1695	396	11	u.s.c	u.s.c	ADJ
cblr-1695	396	12	.	.	PUNCT
cblr-1695	397	1	§	§	PROPN
cblr-1695	397	2	77e	77e	PROPN
cblr-1695	397	3	(	(	PUNCT
cblr-1695	397	4	2012	2012	NUM
cblr-1695	397	5	)	)	PUNCT
cblr-1695	397	6	(	(	PUNCT
cblr-1695	397	7	requiring	require	VERB
cblr-1695	397	8	a	a	DET
cblr-1695	397	9	registration	registration	NOUN
cblr-1695	397	10	statement	statement	NOUN
cblr-1695	397	11	be	be	AUX
cblr-1695	397	12	filed	file	VERB
cblr-1695	397	13	with	with	ADP
cblr-1695	397	14	the	the	DET
cblr-1695	397	15	sec	sec	PROPN
cblr-1695	397	16	before	before	ADP
cblr-1695	397	17	any	any	DET
cblr-1695	397	18	offers	offer	NOUN
cblr-1695	397	19	to	to	PART
cblr-1695	397	20	sell	sell	VERB
cblr-1695	397	21	or	or	CCONJ
cblr-1695	397	22	buy	buy	VERB
cblr-1695	397	23	a	a	DET
cblr-1695	397	24	given	give	VERB
cblr-1695	397	25	security	security	NOUN
cblr-1695	397	26	)	)	PUNCT
cblr-1695	397	27	.	.	PUNCT
cblr-1695	398	1	137	137	NUM
cblr-1695	398	2	philip	philip	PROPN
cblr-1695	398	3	a.	a.	PROPN
cblr-1695	398	4	loomis	loomis	PROPN
cblr-1695	398	5	,	,	PUNCT
cblr-1695	398	6	the	the	DET
cblr-1695	398	7	federal	federal	ADJ
cblr-1695	398	8	securities	security	NOUN
cblr-1695	398	9	laws	law	NOUN
cblr-1695	398	10	,	,	PUNCT
cblr-1695	398	11	7	7	NUM
cblr-1695	398	12	ga	ga	PROPN
cblr-1695	398	13	.	.	PROPN
cblr-1695	398	14	st	st	PROPN
cblr-1695	398	15	.	.	PROPN
cblr-1695	398	16	b.j	b.j	PROPN
cblr-1695	398	17	.	.	PROPN
cblr-1695	398	18	353	353	NUM
cblr-1695	398	19	,	,	PUNCT
cblr-1695	398	20	354	354	NUM
cblr-1695	398	21	(	(	PUNCT
cblr-1695	398	22	1971	1971	NUM
cblr-1695	398	23	)	)	PUNCT
cblr-1695	398	24	.	.	PUNCT
cblr-1695	399	1	138	138	NUM
cblr-1695	399	2	see	see	VERB
cblr-1695	399	3	supra	supra	PROPN
cblr-1695	399	4	notes	note	VERB
cblr-1695	399	5	83–84	83–84	NOUN
cblr-1695	399	6	and	and	CCONJ
cblr-1695	399	7	accompanying	accompany	VERB
cblr-1695	399	8	text	text	NOUN
cblr-1695	399	9	.	.	PUNCT
cblr-1695	400	1	no	no	INTJ
cblr-1695	400	2	.	.	PUNCT
cblr-1695	401	1	1:305	1:305	NUM
cblr-1695	401	2	]	]	X
cblr-1695	401	3	going	go	VERB
cblr-1695	401	4	public	public	ADJ
cblr-1695	401	5	secretly	secretly	ADV
cblr-1695	401	6	331	331	NUM
cblr-1695	401	7	the	the	DET
cblr-1695	401	8	thomson	thomson	PROPN
cblr-1695	401	9	reuters	reuters	PROPN
cblr-1695	401	10	securities	securities	PROPN
cblr-1695	401	11	data	data	PROPN
cblr-1695	401	12	company	company	NOUN
cblr-1695	401	13	platinum	platinum	NOUN
cblr-1695	401	14	new	new	ADJ
cblr-1695	401	15	issues	issue	NOUN
cblr-1695	401	16	database	database	NOUN
cblr-1695	401	17	(	(	PUNCT
cblr-1695	401	18	“	"	PUNCT
cblr-1695	401	19	sdc	sdc	NOUN
cblr-1695	401	20	platinum	platinum	NOUN
cblr-1695	401	21	”	"	PUNCT
cblr-1695	401	22	)	)	PUNCT
cblr-1695	401	23	was	be	AUX
cblr-1695	401	24	used	use	VERB
cblr-1695	401	25	to	to	PART
cblr-1695	401	26	identify	identify	VERB
cblr-1695	401	27	all	all	PRON
cblr-1695	401	28	of	of	ADP
cblr-1695	401	29	the	the	DET
cblr-1695	401	30	ipos	ipos	NOUN
cblr-1695	401	31	in	in	ADP
cblr-1695	401	32	the	the	DET
cblr-1695	401	33	united	united	PROPN
cblr-1695	401	34	states	states	PROPN
cblr-1695	401	35	that	that	PRON
cblr-1695	401	36	occurred	occur	VERB
cblr-1695	401	37	during	during	ADP
cblr-1695	401	38	this	this	DET
cblr-1695	401	39	time	time	NOUN
cblr-1695	401	40	period.139	period.139	NOUN
cblr-1695	401	41	three	three	NUM
cblr-1695	401	42	phases	phase	NOUN
cblr-1695	401	43	of	of	ADP
cblr-1695	401	44	filtering	filtering	NOUN
cblr-1695	401	45	were	be	AUX
cblr-1695	401	46	then	then	ADV
cblr-1695	401	47	deployed	deploy	VERB
cblr-1695	401	48	to	to	PART
cblr-1695	401	49	ascertain	ascertain	VERB
cblr-1695	401	50	the	the	DET
cblr-1695	401	51	final	final	ADJ
cblr-1695	401	52	set	set	NOUN
cblr-1695	401	53	of	of	ADP
cblr-1695	401	54	ipos	ipos	NOUN
cblr-1695	401	55	that	that	PRON
cblr-1695	401	56	was	be	AUX
cblr-1695	401	57	analyzed	analyze	VERB
cblr-1695	401	58	.	.	PUNCT
cblr-1695	402	1	first	first	ADV
cblr-1695	402	2	,	,	PUNCT
cblr-1695	402	3	filtering	filter	VERB
cblr-1695	402	4	options	option	NOUN
cblr-1695	402	5	within	within	ADP
cblr-1695	402	6	sdc	sdc	PROPN
cblr-1695	402	7	platinum	platinum	NOUN
cblr-1695	402	8	excluded	exclude	VERB
cblr-1695	402	9	limited	limited	ADJ
cblr-1695	402	10	partnerships	partnership	NOUN
cblr-1695	402	11	,	,	PUNCT
cblr-1695	402	12	blank	blank	ADJ
cblr-1695	402	13	check	check	NOUN
cblr-1695	402	14	companies,140	companies,140	PROPN
cblr-1695	402	15	investment	investment	NOUN
cblr-1695	402	16	funds	fund	NOUN
cblr-1695	402	17	,	,	PUNCT
cblr-1695	402	18	real	real	ADJ
cblr-1695	402	19	estate	estate	NOUN
cblr-1695	402	20	investment	investment	NOUN
cblr-1695	402	21	trusts	trust	NOUN
cblr-1695	402	22	(	(	PUNCT
cblr-1695	402	23	reits	reit	NOUN
cblr-1695	402	24	)	)	PUNCT
cblr-1695	402	25	,	,	PUNCT
cblr-1695	402	26	foreign	foreign	ADJ
cblr-1695	402	27	issuers	issuer	NOUN
cblr-1695	402	28	,	,	PUNCT
cblr-1695	402	29	rights	right	NOUN
cblr-1695	402	30	issues	issue	NOUN
cblr-1695	402	31	,	,	PUNCT
cblr-1695	402	32	and	and	CCONJ
cblr-1695	402	33	unit	unit	NOUN
cblr-1695	402	34	issues.141	issues.141	PROPN
cblr-1695	402	35	second	second	ADV
cblr-1695	402	36	,	,	PUNCT
cblr-1695	402	37	the	the	DET
cblr-1695	402	38	author	author	NOUN
cblr-1695	402	39	manually	manually	ADV
cblr-1695	402	40	139	139	NUM
cblr-1695	402	41	securities	security	NOUN
cblr-1695	402	42	data	datum	NOUN
cblr-1695	402	43	company	company	NOUN
cblr-1695	402	44	(	(	PUNCT
cblr-1695	402	45	sdc	sdc	NOUN
cblr-1695	402	46	)	)	PUNCT
cblr-1695	402	47	platinum	platinum	NOUN
cblr-1695	402	48	new	new	ADJ
cblr-1695	402	49	issues	issue	NOUN
cblr-1695	402	50	,	,	PUNCT
cblr-1695	402	51	thomson	thomson	PROPN
cblr-1695	402	52	reuters	reuters	PROPN
cblr-1695	402	53	,	,	PUNCT
cblr-1695	402	54	https://www.refinitiv.com/en/products/sdc-platinum-financialsecurities	https://www.refinitiv.com/en/products/sdc-platinum-financialsecuritie	NOUN
cblr-1695	403	1	[	[	X
cblr-1695	403	2	https://perma.cc/us9r-63hw	https://perma.cc/us9r-63hw	X
cblr-1695	403	3	]	]	X
cblr-1695	403	4	(	(	PUNCT
cblr-1695	403	5	last	last	ADV
cblr-1695	403	6	visited	visit	VERB
cblr-1695	403	7	oct	oct	PROPN
cblr-1695	403	8	.	.	PROPN
cblr-1695	403	9	27	27	NUM
cblr-1695	403	10	,	,	PUNCT
cblr-1695	403	11	2018	2018	NUM
cblr-1695	403	12	)	)	PUNCT
cblr-1695	403	13	.	.	PUNCT
cblr-1695	404	1	140	140	NUM
cblr-1695	404	2	a	a	DET
cblr-1695	404	3	blank	blank	ADJ
cblr-1695	404	4	check	check	NOUN
cblr-1695	404	5	company	company	NOUN
cblr-1695	404	6	is	be	AUX
cblr-1695	404	7	a	a	DET
cblr-1695	404	8	company	company	NOUN
cblr-1695	404	9	that	that	PRON
cblr-1695	404	10	either	either	CCONJ
cblr-1695	404	11	“	"	PUNCT
cblr-1695	404	12	has	have	VERB
cblr-1695	404	13	no	no	DET
cblr-1695	404	14	specific	specific	ADJ
cblr-1695	404	15	business	business	NOUN
cblr-1695	404	16	plan	plan	NOUN
cblr-1695	404	17	or	or	CCONJ
cblr-1695	404	18	purpose	purpose	NOUN
cblr-1695	404	19	or	or	CCONJ
cblr-1695	404	20	has	have	AUX
cblr-1695	404	21	indicated	indicate	VERB
cblr-1695	404	22	its	its	PRON
cblr-1695	404	23	business	business	NOUN
cblr-1695	404	24	plan	plan	NOUN
cblr-1695	404	25	is	be	AUX
cblr-1695	404	26	to	to	PART
cblr-1695	404	27	engage	engage	VERB
cblr-1695	404	28	in	in	ADP
cblr-1695	404	29	a	a	DET
cblr-1695	404	30	merger	merger	NOUN
cblr-1695	404	31	or	or	CCONJ
cblr-1695	404	32	acquisition	acquisition	NOUN
cblr-1695	404	33	with	with	ADP
cblr-1695	404	34	an	an	DET
cblr-1695	404	35	unidentified	unidentified	ADJ
cblr-1695	404	36	company	company	NOUN
cblr-1695	404	37	or	or	CCONJ
cblr-1695	404	38	companies	company	NOUN
cblr-1695	404	39	,	,	PUNCT
cblr-1695	404	40	other	other	ADJ
cblr-1695	404	41	entity	entity	NOUN
cblr-1695	404	42	,	,	PUNCT
cblr-1695	404	43	or	or	CCONJ
cblr-1695	404	44	person	person	NOUN
cblr-1695	404	45	.	.	PUNCT
cblr-1695	404	46	”	"	PUNCT
cblr-1695	405	1	blank	blank	ADJ
cblr-1695	405	2	check	check	NOUN
cblr-1695	405	3	company	company	NOUN
cblr-1695	405	4	,	,	PUNCT
cblr-1695	405	5	u.s	u.s	PROPN
cblr-1695	405	6	.	.	PROPN
cblr-1695	405	7	sec	sec	PROPN
cblr-1695	405	8	.	.	PROPN
cblr-1695	405	9	&	&	CCONJ
cblr-1695	405	10	exchange	exchange	PROPN
cblr-1695	405	11	commission	commission	PROPN
cblr-1695	405	12	,	,	PUNCT
cblr-1695	405	13	https://www.sec.gov/fast-answers/answers-blankcheckhtm	https://www.sec.gov/fast-answers/answers-blankcheckhtm	PROPN
cblr-1695	405	14	.	.	PUNCT
cblr-1695	406	1	html	html	PROPN
cblr-1695	407	1	[	[	X
cblr-1695	407	2	https://perma.cc/g5zn-2j5y	https://perma.cc/g5zn-2j5y	X
cblr-1695	407	3	]	]	X
cblr-1695	407	4	(	(	PUNCT
cblr-1695	407	5	last	last	ADJ
cblr-1695	407	6	modified	modify	VERB
cblr-1695	407	7	oct	oct	PROPN
cblr-1695	407	8	.	.	PROPN
cblr-1695	407	9	28	28	NUM
cblr-1695	407	10	,	,	PUNCT
cblr-1695	407	11	2014	2014	NUM
cblr-1695	407	12	)	)	PUNCT
cblr-1695	407	13	.	.	PUNCT
cblr-1695	408	1	generally	generally	ADV
cblr-1695	408	2	,	,	PUNCT
cblr-1695	408	3	such	such	ADJ
cblr-1695	408	4	companies	company	NOUN
cblr-1695	408	5	are	be	AUX
cblr-1695	408	6	formed	form	VERB
cblr-1695	408	7	for	for	ADP
cblr-1695	408	8	the	the	DET
cblr-1695	408	9	sole	sole	ADJ
cblr-1695	408	10	purpose	purpose	NOUN
cblr-1695	408	11	of	of	ADP
cblr-1695	408	12	effectuating	effectuate	VERB
cblr-1695	408	13	a	a	DET
cblr-1695	408	14	merger	merger	NOUN
cblr-1695	408	15	or	or	CCONJ
cblr-1695	408	16	acquisition	acquisition	NOUN
cblr-1695	408	17	between	between	ADP
cblr-1695	408	18	two	two	NUM
cblr-1695	408	19	firms	firm	NOUN
cblr-1695	408	20	.	.	PUNCT
cblr-1695	409	1	see	see	VERB
cblr-1695	409	2	i	i	PRON
cblr-1695	409	3	d.	d.	PROPN
cblr-1695	409	4	141	141	NUM
cblr-1695	409	5	the	the	DET
cblr-1695	409	6	author	author	NOUN
cblr-1695	409	7	made	make	VERB
cblr-1695	409	8	these	these	DET
cblr-1695	409	9	filtering	filter	VERB
cblr-1695	409	10	choices	choice	NOUN
cblr-1695	409	11	in	in	SCONJ
cblr-1695	409	12	order	order	NOUN
cblr-1695	409	13	use	use	VERB
cblr-1695	409	14	a	a	DET
cblr-1695	409	15	methodology	methodology	NOUN
cblr-1695	409	16	that	that	PRON
cblr-1695	409	17	conforms	conform	VERB
cblr-1695	409	18	closely	closely	ADV
cblr-1695	409	19	with	with	ADP
cblr-1695	409	20	other	other	ADJ
cblr-1695	409	21	studies	study	NOUN
cblr-1695	409	22	in	in	ADP
cblr-1695	409	23	the	the	DET
cblr-1695	409	24	literature	literature	NOUN
cblr-1695	409	25	.	.	PUNCT
cblr-1695	410	1	for	for	ADP
cblr-1695	410	2	example	example	NOUN
cblr-1695	410	3	,	,	PUNCT
cblr-1695	410	4	professor	professor	PROPN
cblr-1695	410	5	jay	jay	PROPN
cblr-1695	410	6	ritter	ritter	PROPN
cblr-1695	410	7	keeps	keep	VERB
cblr-1695	410	8	one	one	NUM
cblr-1695	410	9	of	of	ADP
cblr-1695	410	10	the	the	DET
cblr-1695	410	11	most	most	ADV
cblr-1695	410	12	comprehensive	comprehensive	ADJ
cblr-1695	410	13	studies	study	NOUN
cblr-1695	410	14	of	of	ADP
cblr-1695	410	15	ipo	ipo	NOUN
cblr-1695	410	16	activity	activity	NOUN
cblr-1695	410	17	.	.	PUNCT
cblr-1695	411	1	see	see	VERB
cblr-1695	411	2	jay	jay	PROPN
cblr-1695	411	3	r.	r.	PROPN
cblr-1695	411	4	ritter	ritter	PROPN
cblr-1695	411	5	,	,	PUNCT
cblr-1695	411	6	initial	initial	ADJ
cblr-1695	411	7	public	public	ADJ
cblr-1695	411	8	offerings	offering	NOUN
cblr-1695	411	9	:	:	PUNCT
cblr-1695	411	10	updated	update	VERB
cblr-1695	411	11	statistics	statistic	NOUN
cblr-1695	411	12	,	,	PUNCT
cblr-1695	411	13	u.	u.	PROPN
cblr-1695	411	14	fla	fla	PROPN
cblr-1695	411	15	.	.	PUNCT
cblr-1695	412	1	(	(	PUNCT
cblr-1695	412	2	july	july	PROPN
cblr-1695	412	3	11	11	NUM
cblr-1695	412	4	,	,	PUNCT
cblr-1695	412	5	2018	2018	NUM
cblr-1695	412	6	)	)	PUNCT
cblr-1695	412	7	,	,	PUNCT
cblr-1695	412	8	https://site.warrington.ufl.edu/ritter/files/2018/09/	https://site.warrington.ufl.edu/ritter/files/2018/09/	INTJ
cblr-1695	412	9	ipos2017statistics_july11_2018.pdf	ipos2017statistics_july11_2018.pdf	NOUN
cblr-1695	413	1	[	[	X
cblr-1695	413	2	https://perma.cc/uf2t-952a	https://perma.cc/uf2t-952a	PROPN
cblr-1695	413	3	]	]	PUNCT
cblr-1695	413	4	.	.	PUNCT
cblr-1695	414	1	in	in	ADP
cblr-1695	414	2	table	table	NOUN
cblr-1695	414	3	15	15	NUM
cblr-1695	414	4	,	,	PUNCT
cblr-1695	414	5	professor	professor	NOUN
cblr-1695	414	6	ritter	ritter	NOUN
cblr-1695	414	7	records	record	VERB
cblr-1695	414	8	the	the	DET
cblr-1695	414	9	number	number	NOUN
cblr-1695	414	10	of	of	ADP
cblr-1695	414	11	ipos	ipos	NOUN
cblr-1695	414	12	per	per	ADP
cblr-1695	414	13	year	year	NOUN
cblr-1695	414	14	,	,	PUNCT
cblr-1695	414	15	excluding	exclude	VERB
cblr-1695	414	16	special	special	ADJ
cblr-1695	414	17	purpose	purpose	NOUN
cblr-1695	414	18	acquisition	acquisition	NOUN
cblr-1695	414	19	companies	company	NOUN
cblr-1695	414	20	(	(	PUNCT
cblr-1695	414	21	spacs	spac	NOUN
cblr-1695	414	22	)	)	PUNCT
cblr-1695	414	23	,	,	PUNCT
cblr-1695	414	24	closed	close	VERB
cblr-1695	414	25	-	-	PUNCT
cblr-1695	414	26	end	end	NOUN
cblr-1695	414	27	funds	fund	NOUN
cblr-1695	414	28	,	,	PUNCT
cblr-1695	414	29	reits	reit	NOUN
cblr-1695	414	30	,	,	PUNCT
cblr-1695	414	31	unit	unit	NOUN
cblr-1695	414	32	offers	offer	NOUN
cblr-1695	414	33	,	,	PUNCT
cblr-1695	414	34	ipos	ipos	NOUN
cblr-1695	414	35	with	with	ADP
cblr-1695	414	36	an	an	DET
cblr-1695	414	37	offer	offer	NOUN
cblr-1695	414	38	price	price	NOUN
cblr-1695	414	39	of	of	ADP
cblr-1695	414	40	less	less	ADJ
cblr-1695	414	41	than	than	ADP
cblr-1695	414	42	$	$	SYM
cblr-1695	414	43	5.00	5.00	NUM
cblr-1695	414	44	,	,	PUNCT
cblr-1695	414	45	commercial	commercial	ADJ
cblr-1695	414	46	banks	bank	NOUN
cblr-1695	414	47	and	and	CCONJ
cblr-1695	414	48	savings	saving	NOUN
cblr-1695	414	49	and	and	CCONJ
cblr-1695	414	50	loans	loan	NOUN
cblr-1695	414	51	,	,	PUNCT
cblr-1695	414	52	companies	company	NOUN
cblr-1695	414	53	not	not	PART
cblr-1695	414	54	promptly	promptly	ADV
cblr-1695	414	55	listed	list	VERB
cblr-1695	414	56	on	on	ADP
cblr-1695	414	57	the	the	DET
cblr-1695	414	58	amex	amex	PROPN
cblr-1695	414	59	,	,	PUNCT
cblr-1695	414	60	nyse	nyse	PROPN
cblr-1695	414	61	,	,	PUNCT
cblr-1695	414	62	or	or	CCONJ
cblr-1695	414	63	nasdaq	nasdaq	PROPN
cblr-1695	414	64	,	,	PUNCT
cblr-1695	414	65	master	master	NOUN
cblr-1695	414	66	limited	limit	VERB
cblr-1695	414	67	partnerships	partnership	NOUN
cblr-1695	414	68	,	,	PUNCT
cblr-1695	414	69	small	small	ADJ
cblr-1695	414	70	best	good	ADJ
cblr-1695	414	71	efforts	effort	NOUN
cblr-1695	414	72	offers	offer	NOUN
cblr-1695	414	73	,	,	PUNCT
cblr-1695	414	74	and	and	CCONJ
cblr-1695	414	75	foreign	foreign	ADJ
cblr-1695	414	76	companies	company	NOUN
cblr-1695	414	77	issuing	issue	VERB
cblr-1695	414	78	american	american	ADJ
cblr-1695	414	79	depositary	depositary	NOUN
cblr-1695	414	80	receipts	receipt	NOUN
cblr-1695	414	81	.	.	PUNCT
cblr-1695	415	1	i	i	PRON
cblr-1695	415	2	d.	d.	PROPN
cblr-1695	415	3	at	at	ADP
cblr-1695	415	4	39	39	NUM
cblr-1695	415	5	.	.	PUNCT
cblr-1695	416	1	other	other	ADJ
cblr-1695	416	2	studies	study	NOUN
cblr-1695	416	3	use	use	VERB
cblr-1695	416	4	similar	similar	ADJ
cblr-1695	416	5	filters	filter	NOUN
cblr-1695	416	6	.	.	PUNCT
cblr-1695	417	1	see	see	VERB
cblr-1695	417	2	,	,	PUNCT
cblr-1695	417	3	e.g.	e.g.	ADV
cblr-1695	417	4	,	,	PUNCT
cblr-1695	417	5	dambra	dambra	NOUN
cblr-1695	417	6	,	,	PUNCT
cblr-1695	417	7	et	et	PROPN
cblr-1695	417	8	al	al	PROPN
cblr-1695	417	9	.	.	PROPN
cblr-1695	417	10	,	,	PUNCT
cblr-1695	417	11	supra	supra	PROPN
cblr-1695	417	12	note	note	PROPN
cblr-1695	417	13	116	116	NUM
cblr-1695	417	14	,	,	PUNCT
cblr-1695	417	15	at	at	ADP
cblr-1695	417	16	125	125	NUM
cblr-1695	417	17	(	(	PUNCT
cblr-1695	417	18	“	"	PUNCT
cblr-1695	417	19	[	[	X
cblr-1695	417	20	w]e	w]e	NOUN
cblr-1695	417	21	impose	impose	VERB
cblr-1695	417	22	filters	filter	NOUN
cblr-1695	417	23	to	to	PART
cblr-1695	417	24	exclude	exclude	VERB
cblr-1695	417	25	unit	unit	NOUN
cblr-1695	417	26	offerings	offering	NOUN
cblr-1695	417	27	,	,	PUNCT
cblr-1695	417	28	ipos	ipos	NOUN
cblr-1695	417	29	in	in	ADP
cblr-1695	417	30	the	the	DET
cblr-1695	417	31	financial	financial	ADJ
cblr-1695	417	32	industries	industry	NOUN
cblr-1695	417	33	(	(	PUNCT
cblr-1695	417	34	including	include	VERB
cblr-1695	417	35	real	real	ADJ
cblr-1695	417	36	estate	estate	NOUN
cblr-1695	417	37	investment	investment	NOUN
cblr-1695	417	38	trusts	trust	NOUN
cblr-1695	417	39	)	)	PUNCT
cblr-1695	417	40	,	,	PUNCT
cblr-1695	417	41	ipos	ipos	NOUN
cblr-1695	417	42	with	with	ADP
cblr-1695	417	43	proceeds	proceed	NOUN
cblr-1695	417	44	below	below	ADP
cblr-1695	417	45	$	$	SYM
cblr-1695	417	46	5	5	NUM
cblr-1695	417	47	million	million	NUM
cblr-1695	417	48	,	,	PUNCT
cblr-1695	417	49	best	good	ADJ
cblr-1695	417	50	efforts	effort	NOUN
cblr-1695	417	51	offerings	offering	NOUN
cblr-1695	417	52	,	,	PUNCT
cblr-1695	417	53	rights	right	NOUN
cblr-1695	417	54	offerings	offering	NOUN
cblr-1695	417	55	,	,	PUNCT
cblr-1695	417	56	shell	shell	ADJ
cblr-1695	417	57	companies	company	NOUN
cblr-1695	417	58	,	,	PUNCT
cblr-1695	417	59	limited	limited	ADJ
cblr-1695	417	60	partnerships	partnership	NOUN
cblr-1695	417	61	,	,	PUNCT
cblr-1695	417	62	foreign	foreign	ADJ
cblr-1695	417	63	offerings	offering	NOUN
cblr-1695	417	64	,	,	PUNCT
cblr-1695	417	65	and	and	CCONJ
cblr-1695	417	66	non	non	ADJ
cblr-1695	417	67	-	-	ADJ
cblr-1695	417	68	original	original	ADJ
cblr-1695	417	69	ipos	ipos	NOUN
cblr-1695	417	70	(	(	PUNCT
cblr-1695	417	71	issuers	issuer	NOUN
cblr-1695	417	72	already	already	ADV
cblr-1695	417	73	listed	list	VERB
cblr-1695	417	74	in	in	ADP
cblr-1695	417	75	public	public	ADJ
cblr-1695	417	76	markets	market	NOUN
cblr-1695	417	77	,	,	PUNCT
cblr-1695	417	78	either	either	CCONJ
cblr-1695	417	79	overseas	overseas	ADV
cblr-1695	417	80	or	or	CCONJ
cblr-1695	417	81	on	on	ADP
cblr-1695	417	82	us	us	PROPN
cblr-1695	417	83	otc	otc	PROPN
cblr-1695	417	84	exchanges	exchange	NOUN
cblr-1695	417	85	,	,	PUNCT
cblr-1695	417	86	at	at	ADP
cblr-1695	417	87	the	the	DET
cblr-1695	417	88	time	time	NOUN
cblr-1695	417	89	of	of	ADP
cblr-1695	417	90	the	the	DET
cblr-1695	417	91	ipo	ipo	NOUN
cblr-1695	417	92	)	)	PUNCT
cblr-1695	417	93	,	,	PUNCT
cblr-1695	417	94	and	and	CCONJ
cblr-1695	417	95	we	we	PRON
cblr-1695	417	96	check	check	VERB
cblr-1695	417	97	for	for	ADP
cblr-1695	417	98	mistakes	mistake	NOUN
cblr-1695	417	99	in	in	ADP
cblr-1695	417	100	the	the	DET
cblr-1695	417	101	sdc	sdc	NOUN
cblr-1695	417	102	data	datum	NOUN
cblr-1695	417	103	reported	report	VERB
cblr-1695	417	104	on	on	ADP
cblr-1695	417	105	jay	jay	PROPN
cblr-1695	417	106	ritter	ritter	PROPN
cblr-1695	417	107	’s	’s	PART
cblr-1695	417	108	website	website	NOUN
cblr-1695	417	109	.	.	PUNCT
cblr-1695	417	110	”	"	PUNCT
cblr-1695	417	111	)	)	PUNCT
cblr-1695	417	112	.	.	PUNCT
cblr-1695	418	1	therefore	therefore	ADV
cblr-1695	418	2	,	,	PUNCT
cblr-1695	418	3	the	the	DET
cblr-1695	418	4	author	author	NOUN
cblr-1695	418	5	of	of	ADP
cblr-1695	418	6	this	this	DET
cblr-1695	418	7	note	note	NOUN
cblr-1695	418	8	chose	choose	VERB
cblr-1695	418	9	to	to	PART
cblr-1695	418	10	also	also	ADV
cblr-1695	418	11	exclude	exclude	VERB
cblr-1695	418	12	certain	certain	ADJ
cblr-1695	418	13	categories	category	NOUN
cblr-1695	418	14	of	of	ADP
cblr-1695	418	15	ipos	ipos	NOUN
cblr-1695	418	16	in	in	ADP
cblr-1695	418	17	order	order	NOUN
cblr-1695	418	18	to	to	PART
cblr-1695	418	19	ascertain	ascertain	VERB
cblr-1695	418	20	a	a	DET
cblr-1695	418	21	data	data	NOUN
cblr-1695	418	22	set	set	VERB
cblr-1695	418	23	that	that	PRON
cblr-1695	418	24	focuses	focus	VERB
cblr-1695	418	25	on	on	ADP
cblr-1695	418	26	the	the	DET
cblr-1695	418	27	significant	significant	ADJ
cblr-1695	418	28	ipos	ipos	NOUN
cblr-1695	418	29	that	that	PRON
cblr-1695	418	30	policies	policy	NOUN
cblr-1695	418	31	—	—	PUNCT
cblr-1695	418	32	such	such	ADJ
cblr-1695	418	33	as	as	ADP
cblr-1695	418	34	the	the	DET
cblr-1695	418	35	jobs	job	NOUN
cblr-1695	418	36	act	act	VERB
cblr-1695	418	37	and	and	CCONJ
cblr-1695	418	38	the	the	DET
cblr-1695	418	39	july	july	PROPN
cblr-1695	418	40	2017	2017	NUM
cblr-1695	418	41	change	change	NOUN
cblr-1695	418	42	—	—	PUNCT
cblr-1695	418	43	are	be	AUX
cblr-1695	418	44	targeted	target	VERB
cblr-1695	418	45	toward	toward	ADP
cblr-1695	418	46	.	.	PUNCT
cblr-1695	419	1	specifically	specifically	ADV
cblr-1695	419	2	,	,	PUNCT
cblr-1695	419	3	limited	limited	ADJ
cblr-1695	419	4	partnerships	partnership	NOUN
cblr-1695	419	5	,	,	PUNCT
cblr-1695	419	6	332	332	NUM
cblr-1695	419	7	columbia	columbia	PROPN
cblr-1695	419	8	business	business	NOUN
cblr-1695	419	9	law	law	PROPN
cblr-1695	419	10	review	review	NOUN
cblr-1695	420	1	[	[	X
cblr-1695	420	2	vol	vol	NOUN
cblr-1695	420	3	.	.	PUNCT
cblr-1695	420	4	2019	2019	NUM
cblr-1695	420	5	filtered	filter	VERB
cblr-1695	420	6	out	out	ADP
cblr-1695	420	7	any	any	PRON
cblr-1695	420	8	of	of	ADP
cblr-1695	420	9	the	the	DET
cblr-1695	420	10	aforementioned	aforementioned	ADJ
cblr-1695	420	11	categories	category	NOUN
cblr-1695	420	12	that	that	PRON
cblr-1695	420	13	were	be	AUX
cblr-1695	420	14	not	not	PART
cblr-1695	420	15	properly	properly	ADV
cblr-1695	420	16	removed	remove	VERB
cblr-1695	420	17	by	by	ADP
cblr-1695	420	18	sdc	sdc	NOUN
cblr-1695	420	19	platinum	platinum	NOUN
cblr-1695	420	20	.	.	PUNCT
cblr-1695	421	1	the	the	DET
cblr-1695	421	2	author	author	NOUN
cblr-1695	421	3	also	also	ADV
cblr-1695	421	4	eliminated	eliminate	VERB
cblr-1695	421	5	offerings	offering	NOUN
cblr-1695	421	6	that	that	PRON
cblr-1695	421	7	were	be	AUX
cblr-1695	421	8	not	not	PART
cblr-1695	421	9	made	make	VERB
cblr-1695	421	10	to	to	ADP
cblr-1695	421	11	the	the	DET
cblr-1695	421	12	u.s	u.s	PROPN
cblr-1695	421	13	.	.	PROPN
cblr-1695	421	14	public,142	public,142	PROPN
cblr-1695	421	15	offerings	offering	NOUN
cblr-1695	421	16	by	by	ADP
cblr-1695	421	17	issuers	issuer	NOUN
cblr-1695	421	18	that	that	PRON
cblr-1695	421	19	primarily	primarily	ADV
cblr-1695	421	20	trade	trade	VERB
cblr-1695	421	21	on	on	ADP
cblr-1695	421	22	an	an	DET
cblr-1695	421	23	exchange	exchange	NOUN
cblr-1695	421	24	other	other	ADJ
cblr-1695	421	25	than	than	ADP
cblr-1695	421	26	the	the	DET
cblr-1695	421	27	nyse	nyse	PROPN
cblr-1695	421	28	or	or	CCONJ
cblr-1695	421	29	nasdaq	nasdaq	PROPN
cblr-1695	421	30	—	—	PUNCT
cblr-1695	421	31	such	such	ADJ
cblr-1695	421	32	as	as	ADP
cblr-1695	421	33	over	over	ADP
cblr-1695	421	34	-	-	PUNCT
cblr-1695	421	35	the	the	DET
cblr-1695	421	36	-	-	PUNCT
cblr-1695	421	37	counter	counter	NOUN
cblr-1695	421	38	(	(	PUNCT
cblr-1695	421	39	otc	otc	ADJ
cblr-1695	421	40	)	)	PUNCT
cblr-1695	421	41	offerings	offering	NOUN
cblr-1695	421	42	or	or	CCONJ
cblr-1695	421	43	ipos	ipos	NOUN
cblr-1695	421	44	listed	list	VERB
cblr-1695	421	45	on	on	ADP
cblr-1695	421	46	smaller	small	ADJ
cblr-1695	421	47	exchanges	exchange	NOUN
cblr-1695	421	48	,	,	PUNCT
cblr-1695	421	49	such	such	ADJ
cblr-1695	421	50	as	as	ADP
cblr-1695	421	51	the	the	DET
cblr-1695	421	52	nyse	nyse	PROPN
cblr-1695	421	53	american143	american143	PROPN
cblr-1695	421	54	—	—	PUNCT
cblr-1695	421	55	and	and	CCONJ
cblr-1695	421	56	offerings	offering	NOUN
cblr-1695	421	57	of	of	ADP
cblr-1695	421	58	penny	penny	NOUN
cblr-1695	421	59	stocks	stock	NOUN
cblr-1695	421	60	,	,	PUNCT
cblr-1695	421	61	defined	define	VERB
cblr-1695	421	62	as	as	ADP
cblr-1695	421	63	ipos	ipos	NOUN
cblr-1695	421	64	with	with	ADP
cblr-1695	421	65	an	an	DET
cblr-1695	421	66	offer	offer	NOUN
cblr-1695	421	67	price	price	NOUN
cblr-1695	421	68	under	under	ADP
cblr-1695	421	69	five	five	NUM
cblr-1695	421	70	dollars	dollar	NOUN
cblr-1695	421	71	per	per	ADP
cblr-1695	421	72	share.144	share.144	PROPN
cblr-1695	421	73	third	third	NOUN
cblr-1695	421	74	,	,	PUNCT
cblr-1695	421	75	while	while	SCONJ
cblr-1695	421	76	manually	manually	ADV
cblr-1695	421	77	examining	examine	VERB
cblr-1695	421	78	the	the	DET
cblr-1695	421	79	registration	registration	NOUN
cblr-1695	421	80	documents	document	NOUN
cblr-1695	421	81	for	for	ADP
cblr-1695	421	82	each	each	DET
cblr-1695	421	83	ipo,145	ipo,145	ADP
cblr-1695	421	84	the	the	DET
cblr-1695	421	85	author	author	NOUN
cblr-1695	421	86	removed	remove	VERB
cblr-1695	421	87	any	any	DET
cblr-1695	421	88	ipos	ipos	NOUN
cblr-1695	421	89	that	that	PRON
cblr-1695	421	90	fell	fall	VERB
cblr-1695	421	91	into	into	ADP
cblr-1695	421	92	one	one	NUM
cblr-1695	421	93	of	of	ADP
cblr-1695	421	94	the	the	DET
cblr-1695	421	95	aforementioned	aforementioned	ADJ
cblr-1695	421	96	categories	category	NOUN
cblr-1695	421	97	(	(	PUNCT
cblr-1695	421	98	but	but	CCONJ
cblr-1695	421	99	had	have	AUX
cblr-1695	421	100	not	not	PART
cblr-1695	421	101	been	be	AUX
cblr-1695	421	102	properly	properly	ADV
cblr-1695	421	103	blank	blank	ADJ
cblr-1695	421	104	check	check	NOUN
cblr-1695	421	105	companies	company	NOUN
cblr-1695	421	106	,	,	PUNCT
cblr-1695	421	107	investment	investment	NOUN
cblr-1695	421	108	funds	fund	NOUN
cblr-1695	421	109	,	,	PUNCT
cblr-1695	421	110	and	and	CCONJ
cblr-1695	421	111	reits	reit	NOUN
cblr-1695	421	112	were	be	AUX
cblr-1695	421	113	excluded	exclude	VERB
cblr-1695	421	114	because	because	SCONJ
cblr-1695	421	115	these	these	PRON
cblr-1695	421	116	are	be	AUX
cblr-1695	421	117	not	not	PART
cblr-1695	421	118	true	true	ADJ
cblr-1695	421	119	corporations	corporation	NOUN
cblr-1695	421	120	.	.	PUNCT
cblr-1695	422	1	foreign	foreign	ADJ
cblr-1695	422	2	issuers	issuer	NOUN
cblr-1695	422	3	were	be	AUX
cblr-1695	422	4	excluded	exclude	VERB
cblr-1695	422	5	because	because	SCONJ
cblr-1695	422	6	this	this	DET
cblr-1695	422	7	study	study	NOUN
cblr-1695	422	8	only	only	ADV
cblr-1695	422	9	looks	look	VERB
cblr-1695	422	10	at	at	ADP
cblr-1695	422	11	american	american	ADJ
cblr-1695	422	12	companies	company	NOUN
cblr-1695	422	13	going	go	VERB
cblr-1695	422	14	public	public	ADJ
cblr-1695	422	15	on	on	ADP
cblr-1695	422	16	american	american	ADJ
cblr-1695	422	17	exchanges	exchange	NOUN
cblr-1695	422	18	.	.	PUNCT
cblr-1695	423	1	rights	right	NOUN
cblr-1695	423	2	issues	issue	NOUN
cblr-1695	423	3	and	and	CCONJ
cblr-1695	423	4	units	unit	NOUN
cblr-1695	423	5	issues	issue	NOUN
cblr-1695	423	6	are	be	AUX
cblr-1695	423	7	not	not	PART
cblr-1695	423	8	offerings	offering	NOUN
cblr-1695	423	9	of	of	ADP
cblr-1695	423	10	common	common	ADJ
cblr-1695	423	11	stock	stock	NOUN
cblr-1695	423	12	and	and	CCONJ
cblr-1695	423	13	thus	thus	ADV
cblr-1695	423	14	were	be	AUX
cblr-1695	423	15	also	also	ADV
cblr-1695	423	16	excluded	exclude	VERB
cblr-1695	423	17	.	.	PUNCT
cblr-1695	424	1	142	142	NUM
cblr-1695	424	2	offerings	offering	NOUN
cblr-1695	424	3	not	not	PART
cblr-1695	424	4	made	make	VERB
cblr-1695	424	5	to	to	ADP
cblr-1695	424	6	the	the	DET
cblr-1695	424	7	u.s	u.s	PROPN
cblr-1695	424	8	.	.	PROPN
cblr-1695	424	9	public	public	PROPN
cblr-1695	424	10	were	be	AUX
cblr-1695	424	11	excluded	exclude	VERB
cblr-1695	424	12	because	because	SCONJ
cblr-1695	424	13	such	such	ADJ
cblr-1695	424	14	offerings	offering	NOUN
cblr-1695	424	15	are	be	AUX
cblr-1695	424	16	beyond	beyond	ADP
cblr-1695	424	17	the	the	DET
cblr-1695	424	18	reach	reach	NOUN
cblr-1695	424	19	of	of	ADP
cblr-1695	424	20	the	the	DET
cblr-1695	424	21	jobs	job	NOUN
cblr-1695	424	22	act	act	NOUN
cblr-1695	424	23	and	and	CCONJ
cblr-1695	424	24	the	the	DET
cblr-1695	424	25	july	july	PROPN
cblr-1695	424	26	2017	2017	NUM
cblr-1695	424	27	change	change	NOUN
cblr-1695	424	28	.	.	PUNCT
cblr-1695	425	1	143	143	NUM
cblr-1695	425	2	offerings	offering	NOUN
cblr-1695	425	3	on	on	ADP
cblr-1695	425	4	exchanges	exchange	NOUN
cblr-1695	425	5	other	other	ADJ
cblr-1695	425	6	than	than	ADP
cblr-1695	425	7	the	the	DET
cblr-1695	425	8	nyse	nyse	PROPN
cblr-1695	425	9	or	or	CCONJ
cblr-1695	425	10	nasdaq	nasdaq	PROPN
cblr-1695	425	11	were	be	AUX
cblr-1695	425	12	excluded	exclude	VERB
cblr-1695	425	13	because	because	SCONJ
cblr-1695	425	14	such	such	ADJ
cblr-1695	425	15	offerings	offering	NOUN
cblr-1695	425	16	make	make	VERB
cblr-1695	425	17	up	up	ADP
cblr-1695	425	18	a	a	DET
cblr-1695	425	19	marginal	marginal	ADJ
cblr-1695	425	20	portion	portion	NOUN
cblr-1695	425	21	of	of	ADP
cblr-1695	425	22	the	the	DET
cblr-1695	425	23	american	american	PROPN
cblr-1695	425	24	ipo	ipo	PROPN
cblr-1695	425	25	market	market	NOUN
cblr-1695	425	26	and	and	CCONJ
cblr-1695	425	27	,	,	PUNCT
cblr-1695	425	28	therefore	therefore	ADV
cblr-1695	425	29	,	,	PUNCT
cblr-1695	425	30	the	the	DET
cblr-1695	425	31	focus	focus	NOUN
cblr-1695	425	32	of	of	ADP
cblr-1695	425	33	any	any	DET
cblr-1695	425	34	action	action	NOUN
cblr-1695	425	35	taken	take	VERB
cblr-1695	425	36	to	to	PART
cblr-1695	425	37	increase	increase	VERB
cblr-1695	425	38	ipo	ipo	NOUN
cblr-1695	425	39	activity	activity	NOUN
cblr-1695	425	40	is	be	AUX
cblr-1695	425	41	on	on	ADP
cblr-1695	425	42	the	the	DET
cblr-1695	425	43	nyse	nyse	PROPN
cblr-1695	425	44	and	and	CCONJ
cblr-1695	425	45	nasdaq	nasdaq	PROPN
cblr-1695	425	46	.	.	PUNCT
cblr-1695	426	1	together	together	ADV
cblr-1695	426	2	,	,	PUNCT
cblr-1695	426	3	these	these	DET
cblr-1695	426	4	two	two	NUM
cblr-1695	426	5	exchanges	exchange	NOUN
cblr-1695	426	6	make	make	VERB
cblr-1695	426	7	up	up	ADP
cblr-1695	426	8	nearly	nearly	ADV
cblr-1695	426	9	100	100	NUM
cblr-1695	426	10	%	%	NOUN
cblr-1695	426	11	of	of	ADP
cblr-1695	426	12	the	the	DET
cblr-1695	426	13	market	market	NOUN
cblr-1695	426	14	.	.	PUNCT
cblr-1695	427	1	see	see	VERB
cblr-1695	427	2	market	market	NOUN
cblr-1695	427	3	performance	performance	NOUN
cblr-1695	427	4	,	,	PUNCT
cblr-1695	427	5	nasdaq	nasdaq	PROPN
cblr-1695	427	6	,	,	PUNCT
cblr-1695	427	7	https://www.nasdaq.com/about/market_performance.pdf	https://www.nasdaq.com/about/market_performance.pdf	NOUN
cblr-1695	427	8	(	(	PUNCT
cblr-1695	427	9	on	on	ADP
cblr-1695	427	10	file	file	NOUN
cblr-1695	427	11	with	with	ADP
cblr-1695	427	12	the	the	DET
cblr-1695	427	13	columbia	columbia	PROPN
cblr-1695	427	14	business	business	PROPN
cblr-1695	427	15	law	law	PROPN
cblr-1695	427	16	review	review	PROPN
cblr-1695	427	17	)	)	PUNCT
cblr-1695	427	18	.	.	PUNCT
cblr-1695	428	1	in	in	ADP
cblr-1695	428	2	addition	addition	NOUN
cblr-1695	428	3	,	,	PUNCT
cblr-1695	428	4	because	because	SCONJ
cblr-1695	428	5	the	the	DET
cblr-1695	428	6	july	july	PROPN
cblr-1695	428	7	2017	2017	NUM
cblr-1695	428	8	change	change	NOUN
cblr-1695	428	9	was	be	AUX
cblr-1695	428	10	aimed	aim	VERB
cblr-1695	428	11	at	at	ADP
cblr-1695	428	12	large	large	ADJ
cblr-1695	428	13	companies	company	NOUN
cblr-1695	428	14	,	,	PUNCT
cblr-1695	428	15	it	it	PRON
cblr-1695	428	16	is	be	AUX
cblr-1695	428	17	highly	highly	ADV
cblr-1695	428	18	unlikely	unlikely	ADJ
cblr-1695	428	19	that	that	SCONJ
cblr-1695	428	20	firms	firm	NOUN
cblr-1695	428	21	of	of	ADP
cblr-1695	428	22	this	this	DET
cblr-1695	428	23	size	size	NOUN
cblr-1695	428	24	would	would	AUX
cblr-1695	428	25	trade	trade	VERB
cblr-1695	428	26	otc	otc	PROPN
cblr-1695	428	27	or	or	CCONJ
cblr-1695	428	28	on	on	ADP
cblr-1695	428	29	a	a	DET
cblr-1695	428	30	smaller	small	ADJ
cblr-1695	428	31	exchange	exchange	NOUN
cblr-1695	428	32	,	,	PUNCT
cblr-1695	428	33	such	such	ADJ
cblr-1695	428	34	as	as	ADP
cblr-1695	428	35	the	the	DET
cblr-1695	428	36	nyse	nyse	PROPN
cblr-1695	428	37	american	american	PROPN
cblr-1695	428	38	.	.	PUNCT
cblr-1695	429	1	see	see	VERB
cblr-1695	429	2	generally	generally	ADV
cblr-1695	429	3	nyse	nyse	PROPN
cblr-1695	429	4	american	american	PROPN
cblr-1695	429	5	,	,	PUNCT
cblr-1695	429	6	nyse	nyse	PROPN
cblr-1695	429	7	,	,	PUNCT
cblr-1695	429	8	https://www.nyse.com/	https://www.nyse.com/	NOUN
cblr-1695	429	9	markets	market	NOUN
cblr-1695	429	10	/	/	SYM
cblr-1695	429	11	nyse	nyse	PROPN
cblr-1695	429	12	-	-	PUNCT
cblr-1695	429	13	american	american	PROPN
cblr-1695	429	14	[	[	X
cblr-1695	429	15	https://perma.cc/smz9-3fcs	https://perma.cc/smz9-3fcs	PROPN
cblr-1695	429	16	]	]	X
cblr-1695	429	17	.	.	PUNCT
cblr-1695	430	1	144	144	NUM
cblr-1695	430	2	see	see	VERB
cblr-1695	430	3	penny	penny	NOUN
cblr-1695	430	4	stock	stock	NOUN
cblr-1695	430	5	rules	rule	NOUN
cblr-1695	430	6	,	,	PUNCT
cblr-1695	430	7	u.s	u.s	PROPN
cblr-1695	430	8	.	.	PROPN
cblr-1695	430	9	sec	sec	PROPN
cblr-1695	430	10	.	.	PROPN
cblr-1695	430	11	&	&	CCONJ
cblr-1695	430	12	exchange	exchange	PROPN
cblr-1695	430	13	commission	commission	PROPN
cblr-1695	430	14	,	,	PUNCT
cblr-1695	430	15	https://www.sec.gov/fast-answers/answerspennyhtm.html	https://www.sec.gov/fast-answers/answerspennyhtm.html	PROPN
cblr-1695	431	1	[	[	X
cblr-1695	431	2	https://perma.cc	https://perma.cc	VERB
cblr-1695	431	3	/4k4v	/4k4v	NOUN
cblr-1695	431	4	-	-	PUNCT
cblr-1695	431	5	cflq	cflq	NOUN
cblr-1695	431	6	]	]	PUNCT
cblr-1695	431	7	.	.	PUNCT
cblr-1695	432	1	penny	penny	NOUN
cblr-1695	432	2	stocks	stock	NOUN
cblr-1695	432	3	were	be	AUX
cblr-1695	432	4	excluded	exclude	VERB
cblr-1695	432	5	because	because	SCONJ
cblr-1695	432	6	they	they	PRON
cblr-1695	432	7	are	be	AUX
cblr-1695	432	8	not	not	PART
cblr-1695	432	9	the	the	DET
cblr-1695	432	10	focus	focus	NOUN
cblr-1695	432	11	of	of	ADP
cblr-1695	432	12	policy	policy	NOUN
cblr-1695	432	13	changes	change	NOUN
cblr-1695	432	14	,	,	PUNCT
cblr-1695	432	15	such	such	ADJ
cblr-1695	432	16	as	as	ADP
cblr-1695	432	17	the	the	DET
cblr-1695	432	18	jobs	job	NOUN
cblr-1695	432	19	act	act	VERB
cblr-1695	432	20	or	or	CCONJ
cblr-1695	432	21	the	the	DET
cblr-1695	432	22	july	july	PROPN
cblr-1695	432	23	2017	2017	NUM
cblr-1695	432	24	change	change	NOUN
cblr-1695	432	25	,	,	PUNCT
cblr-1695	432	26	and	and	CCONJ
cblr-1695	432	27	their	their	PRON
cblr-1695	432	28	inclusion	inclusion	NOUN
cblr-1695	432	29	can	can	AUX
cblr-1695	432	30	disrupt	disrupt	VERB
cblr-1695	432	31	proper	proper	ADJ
cblr-1695	432	32	comparisons	comparison	NOUN
cblr-1695	432	33	of	of	ADP
cblr-1695	432	34	the	the	DET
cblr-1695	432	35	data	datum	NOUN
cblr-1695	432	36	year	year	NOUN
cblr-1695	432	37	over	over	ADP
cblr-1695	432	38	year	year	NOUN
cblr-1695	432	39	.	.	PUNCT
cblr-1695	433	1	for	for	ADP
cblr-1695	433	2	example	example	NOUN
cblr-1695	433	3	,	,	PUNCT
cblr-1695	433	4	one	one	NUM
cblr-1695	433	5	year	year	NOUN
cblr-1695	433	6	may	may	AUX
cblr-1695	433	7	have	have	VERB
cblr-1695	433	8	many	many	ADJ
cblr-1695	433	9	more	more	ADJ
cblr-1695	433	10	penny	penny	NOUN
cblr-1695	433	11	stock	stock	NOUN
cblr-1695	433	12	ipos	ipos	NOUN
cblr-1695	433	13	than	than	ADP
cblr-1695	433	14	another	another	DET
cblr-1695	433	15	year	year	NOUN
cblr-1695	433	16	.	.	PUNCT
cblr-1695	434	1	however	however	ADV
cblr-1695	434	2	,	,	PUNCT
cblr-1695	434	3	a	a	DET
cblr-1695	434	4	year	year	NOUN
cblr-1695	434	5	with	with	ADP
cblr-1695	434	6	many	many	ADJ
cblr-1695	434	7	penny	penny	NOUN
cblr-1695	434	8	stock	stock	NOUN
cblr-1695	434	9	ipos	ipos	NOUN
cblr-1695	434	10	and	and	CCONJ
cblr-1695	434	11	few	few	ADJ
cblr-1695	434	12	non	non	ADJ
cblr-1695	434	13	-	-	ADJ
cblr-1695	434	14	penny	penny	ADJ
cblr-1695	434	15	stock	stock	NOUN
cblr-1695	434	16	ipos	ipos	NOUN
cblr-1695	434	17	would	would	AUX
cblr-1695	434	18	not	not	PART
cblr-1695	434	19	be	be	AUX
cblr-1695	434	20	seen	see	VERB
cblr-1695	434	21	as	as	ADP
cblr-1695	434	22	a	a	DET
cblr-1695	434	23	success	success	NOUN
cblr-1695	434	24	due	due	ADP
cblr-1695	434	25	to	to	ADP
cblr-1695	434	26	the	the	DET
cblr-1695	434	27	low	low	ADJ
cblr-1695	434	28	amount	amount	NOUN
cblr-1695	434	29	of	of	ADP
cblr-1695	434	30	capital	capital	NOUN
cblr-1695	434	31	that	that	PRON
cblr-1695	434	32	penny	penny	NOUN
cblr-1695	434	33	stocks	stock	NOUN
cblr-1695	434	34	raise	raise	VERB
cblr-1695	434	35	and	and	CCONJ
cblr-1695	434	36	the	the	DET
cblr-1695	434	37	general	general	ADJ
cblr-1695	434	38	volatility	volatility	NOUN
cblr-1695	434	39	that	that	SCONJ
cblr-1695	434	40	they	they	PRON
cblr-1695	434	41	historically	historically	ADV
cblr-1695	434	42	have	have	AUX
cblr-1695	434	43	offered	offer	VERB
cblr-1695	434	44	investors	investor	NOUN
cblr-1695	434	45	.	.	PUNCT
cblr-1695	435	1	see	see	VERB
cblr-1695	435	2	,	,	PUNCT
cblr-1695	435	3	e.g.	e.g.	ADV
cblr-1695	435	4	,	,	PUNCT
cblr-1695	435	5	barbara	barbara	PROPN
cblr-1695	435	6	aarsteinsen	aarsteinsen	PROPN
cblr-1695	435	7	,	,	PUNCT
cblr-1695	435	8	high	high	ADJ
cblr-1695	435	9	-	-	PUNCT
cblr-1695	435	10	risk	risk	NOUN
cblr-1695	435	11	‘	'	PUNCT
cblr-1695	435	12	pennies	penny	NOUN
cblr-1695	435	13	’	'	PUNCT
cblr-1695	435	14	for	for	ADP
cblr-1695	435	15	the	the	DET
cblr-1695	435	16	bold	bold	ADJ
cblr-1695	435	17	,	,	PUNCT
cblr-1695	435	18	n.y	n.y	PROPN
cblr-1695	435	19	.	.	PROPN
cblr-1695	435	20	times	times	PROPN
cblr-1695	435	21	(	(	PUNCT
cblr-1695	435	22	nov	nov	PROPN
cblr-1695	435	23	.	.	PROPN
cblr-1695	435	24	17	17	NUM
cblr-1695	435	25	,	,	PUNCT
cblr-1695	435	26	1985	1985	NUM
cblr-1695	435	27	)	)	PUNCT
cblr-1695	435	28	,	,	PUNCT
cblr-1695	435	29	https://www.nytimes.com/1985/11/	https://www.nytimes.com/1985/11/	PROPN
cblr-1695	435	30	17	17	NUM
cblr-1695	435	31	/	/	SYM
cblr-1695	435	32	business	business	NOUN
cblr-1695	435	33	/	/	SYM
cblr-1695	435	34	high	high	ADJ
cblr-1695	435	35	-	-	PUNCT
cblr-1695	435	36	risk	risk	NOUN
cblr-1695	435	37	-	-	PUNCT
cblr-1695	435	38	pennies	penny	NOUN
cblr-1695	435	39	-	-	PUNCT
cblr-1695	435	40	for	for	ADP
cblr-1695	435	41	-	-	PUNCT
cblr-1695	435	42	the	the	PRON
cblr-1695	435	43	-	-	PUNCT
cblr-1695	435	44	bold.html	bold.html	NOUN
cblr-1695	436	1	[	[	X
cblr-1695	436	2	https://perma.cc/lc8vxheh	https://perma.cc/lc8vxheh	X
cblr-1695	436	3	]	]	X
cblr-1695	436	4	(	(	PUNCT
cblr-1695	436	5	discussing	discuss	VERB
cblr-1695	436	6	volatility	volatility	NOUN
cblr-1695	436	7	of	of	ADP
cblr-1695	436	8	penny	penny	NOUN
cblr-1695	436	9	stocks	stock	NOUN
cblr-1695	436	10	)	)	PUNCT
cblr-1695	436	11	.	.	PUNCT
cblr-1695	437	1	145	145	NUM
cblr-1695	437	2	see	see	VERB
cblr-1695	437	3	infra	infra	NOUN
cblr-1695	437	4	text	text	NOUN
cblr-1695	437	5	accompanying	accompanying	ADJ
cblr-1695	437	6	notes	note	NOUN
cblr-1695	437	7	148–49	148–49	NUM
cblr-1695	437	8	.	.	PUNCT
cblr-1695	438	1	no	no	INTJ
cblr-1695	438	2	.	.	PUNCT
cblr-1695	439	1	1:305	1:305	NUM
cblr-1695	439	2	]	]	X
cblr-1695	439	3	going	go	VERB
cblr-1695	439	4	public	public	ADJ
cblr-1695	439	5	secretly	secretly	ADV
cblr-1695	439	6	333	333	NUM
cblr-1695	439	7	removed	remove	VERB
cblr-1695	439	8	during	during	ADP
cblr-1695	439	9	the	the	DET
cblr-1695	439	10	first	first	ADJ
cblr-1695	439	11	two	two	NUM
cblr-1695	439	12	phases	phase	NOUN
cblr-1695	439	13	of	of	ADP
cblr-1695	439	14	filtering	filtering	NOUN
cblr-1695	439	15	)	)	PUNCT
cblr-1695	439	16	or	or	CCONJ
cblr-1695	439	17	that	that	PRON
cblr-1695	439	18	did	do	AUX
cblr-1695	439	19	not	not	PART
cblr-1695	439	20	file	file	VERB
cblr-1695	439	21	a	a	DET
cblr-1695	439	22	form	form	NOUN
cblr-1695	439	23	s-1	s-1	NOUN
cblr-1695	439	24	with	with	ADP
cblr-1695	439	25	the	the	DET
cblr-1695	439	26	sec.146	sec.146	NOUN
cblr-1695	439	27	finally	finally	ADV
cblr-1695	439	28	,	,	PUNCT
cblr-1695	439	29	the	the	DET
cblr-1695	439	30	author	author	NOUN
cblr-1695	439	31	also	also	ADV
cblr-1695	439	32	used	use	VERB
cblr-1695	439	33	sdc	sdc	NOUN
cblr-1695	439	34	platinum	platinum	NOUN
cblr-1695	439	35	to	to	PART
cblr-1695	439	36	pull	pull	VERB
cblr-1695	439	37	a	a	DET
cblr-1695	439	38	non	non	ADJ
cblr-1695	439	39	-	-	ADJ
cblr-1695	439	40	filtered	filter	VERB
cblr-1695	439	41	set	set	NOUN
cblr-1695	439	42	of	of	ADP
cblr-1695	439	43	ipos	ipos	NOUN
cblr-1695	439	44	that	that	PRON
cblr-1695	439	45	was	be	AUX
cblr-1695	439	46	then	then	ADV
cblr-1695	439	47	completely	completely	ADV
cblr-1695	439	48	manually	manually	ADV
cblr-1695	439	49	filtered	filter	VERB
cblr-1695	439	50	.	.	PUNCT
cblr-1695	440	1	this	this	PRON
cblr-1695	440	2	served	serve	VERB
cblr-1695	440	3	as	as	ADP
cblr-1695	440	4	a	a	DET
cblr-1695	440	5	check	check	NOUN
cblr-1695	440	6	on	on	ADP
cblr-1695	440	7	the	the	DET
cblr-1695	440	8	sdc	sdc	NOUN
cblr-1695	440	9	platinum	platinum	NOUN
cblr-1695	440	10	filtering	filtering	NOUN
cblr-1695	440	11	process	process	NOUN
cblr-1695	440	12	and	and	CCONJ
cblr-1695	440	13	resulted	result	VERB
cblr-1695	440	14	in	in	ADP
cblr-1695	440	15	the	the	DET
cblr-1695	440	16	addition	addition	NOUN
cblr-1695	440	17	of	of	ADP
cblr-1695	440	18	one	one	NUM
cblr-1695	440	19	ipo	ipo	NOUN
cblr-1695	440	20	to	to	ADP
cblr-1695	440	21	the	the	DET
cblr-1695	440	22	data	data	NOUN
cblr-1695	440	23	set	set	VERB
cblr-1695	440	24	(	(	PUNCT
cblr-1695	440	25	which	which	PRON
cblr-1695	440	26	had	have	AUX
cblr-1695	440	27	been	be	AUX
cblr-1695	440	28	erroneously	erroneously	ADV
cblr-1695	440	29	excluded	exclude	VERB
cblr-1695	440	30	by	by	ADP
cblr-1695	440	31	sdc	sdc	NOUN
cblr-1695	440	32	platinum	platinum	NOUN
cblr-1695	440	33	)	)	PUNCT
cblr-1695	440	34	.	.	PUNCT
cblr-1695	441	1	this	this	DET
cblr-1695	441	2	methodology	methodology	NOUN
cblr-1695	441	3	resulted	result	VERB
cblr-1695	441	4	in	in	ADP
cblr-1695	441	5	a	a	DET
cblr-1695	441	6	final	final	ADJ
cblr-1695	441	7	data	datum	NOUN
cblr-1695	441	8	set	set	VERB
cblr-1695	441	9	of	of	ADP
cblr-1695	441	10	364	364	NUM
cblr-1695	441	11	ipos.147	ipos.147	NOUN
cblr-1695	441	12	next	next	ADV
cblr-1695	441	13	,	,	PUNCT
cblr-1695	441	14	the	the	DET
cblr-1695	441	15	author	author	NOUN
cblr-1695	441	16	of	of	ADP
cblr-1695	441	17	this	this	DET
cblr-1695	441	18	note	note	NOUN
cblr-1695	441	19	used	use	VERB
cblr-1695	441	20	the	the	DET
cblr-1695	441	21	sec	sec	PROPN
cblr-1695	441	22	’s	’s	PART
cblr-1695	441	23	electronic	electronic	ADJ
cblr-1695	441	24	data	datum	NOUN
cblr-1695	441	25	gathering	gathering	NOUN
cblr-1695	441	26	,	,	PUNCT
cblr-1695	441	27	analysis	analysis	NOUN
cblr-1695	441	28	,	,	PUNCT
cblr-1695	441	29	and	and	CCONJ
cblr-1695	441	30	retrieval	retrieval	NOUN
cblr-1695	441	31	(	(	PUNCT
cblr-1695	441	32	edgar	edgar	NOUN
cblr-1695	441	33	)	)	PUNCT
cblr-1695	441	34	database148	database148	PROPN
cblr-1695	441	35	to	to	PART
cblr-1695	441	36	examine	examine	VERB
cblr-1695	441	37	the	the	DET
cblr-1695	441	38	registration	registration	NOUN
cblr-1695	441	39	documents	document	NOUN
cblr-1695	441	40	for	for	ADP
cblr-1695	441	41	each	each	DET
cblr-1695	441	42	company	company	NOUN
cblr-1695	441	43	that	that	PRON
cblr-1695	441	44	went	go	VERB
cblr-1695	441	45	public	public	ADJ
cblr-1695	441	46	.	.	PUNCT
cblr-1695	442	1	the	the	DET
cblr-1695	442	2	author	author	NOUN
cblr-1695	442	3	searched	search	VERB
cblr-1695	442	4	for	for	ADP
cblr-1695	442	5	each	each	DET
cblr-1695	442	6	issuer	issuer	NOUN
cblr-1695	442	7	using	use	VERB
cblr-1695	442	8	either	either	CCONJ
cblr-1695	442	9	the	the	DET
cblr-1695	442	10	issuer	issuer	NOUN
cblr-1695	442	11	’s	’s	PART
cblr-1695	442	12	full	full	ADJ
cblr-1695	442	13	company	company	NOUN
cblr-1695	442	14	name	name	NOUN
cblr-1695	442	15	or	or	CCONJ
cblr-1695	442	16	its	its	PRON
cblr-1695	442	17	stock	stock	NOUN
cblr-1695	442	18	ticker	ticker	NOUN
cblr-1695	442	19	symbol	symbol	NOUN
cblr-1695	442	20	.	.	PUNCT
cblr-1695	443	1	the	the	DET
cblr-1695	443	2	company	company	NOUN
cblr-1695	443	3	’s	’s	PART
cblr-1695	443	4	form	form	NOUN
cblr-1695	443	5	s-1	s-1	NOUN
cblr-1695	443	6	was	be	AUX
cblr-1695	443	7	located	locate	VERB
cblr-1695	443	8	by	by	ADP
cblr-1695	443	9	matching	match	VERB
cblr-1695	443	10	the	the	DET
cblr-1695	443	11	filing	filing	NOUN
cblr-1695	443	12	date	date	NOUN
cblr-1695	443	13	provided	provide	VERB
cblr-1695	443	14	by	by	ADP
cblr-1695	443	15	sdc	sdc	PROPN
cblr-1695	443	16	platinum.149	platinum.149	PRON
cblr-1695	443	17	the	the	DET
cblr-1695	443	18	author	author	NOUN
cblr-1695	443	19	then	then	ADV
cblr-1695	443	20	manually	manually	ADV
cblr-1695	443	21	examined	examine	VERB
cblr-1695	443	22	each	each	DET
cblr-1695	443	23	form	form	NOUN
cblr-1695	443	24	s-1	s-1	NOUN
cblr-1695	443	25	to	to	PART
cblr-1695	443	26	determine	determine	VERB
cblr-1695	443	27	if	if	SCONJ
cblr-1695	443	28	the	the	DET
cblr-1695	443	29	company	company	NOUN
cblr-1695	443	30	registered	register	VERB
cblr-1695	443	31	as	as	ADP
cblr-1695	443	32	an	an	DET
cblr-1695	443	33	egc	egc	PROPN
cblr-1695	443	34	.	.	PUNCT
cblr-1695	444	1	companies	company	NOUN
cblr-1695	444	2	declare	declare	VERB
cblr-1695	444	3	egc	egc	ADJ
cblr-1695	444	4	146	146	NUM
cblr-1695	444	5	this	this	PRON
cblr-1695	444	6	can	can	AUX
cblr-1695	444	7	happen	happen	VERB
cblr-1695	444	8	for	for	ADP
cblr-1695	444	9	several	several	ADJ
cblr-1695	444	10	reasons	reason	NOUN
cblr-1695	444	11	.	.	PUNCT
cblr-1695	445	1	information	information	NOUN
cblr-1695	445	2	for	for	ADP
cblr-1695	445	3	a	a	DET
cblr-1695	445	4	few	few	ADJ
cblr-1695	445	5	companies	company	NOUN
cblr-1695	445	6	simply	simply	ADV
cblr-1695	445	7	could	could	AUX
cblr-1695	445	8	not	not	PART
cblr-1695	445	9	be	be	AUX
cblr-1695	445	10	located	locate	VERB
cblr-1695	445	11	on	on	ADP
cblr-1695	445	12	edgar	edgar	NOUN
cblr-1695	445	13	.	.	PUNCT
cblr-1695	446	1	in	in	ADP
cblr-1695	446	2	other	other	ADJ
cblr-1695	446	3	cases	case	NOUN
cblr-1695	446	4	,	,	PUNCT
cblr-1695	446	5	companies	company	NOUN
cblr-1695	446	6	are	be	AUX
cblr-1695	446	7	able	able	ADJ
cblr-1695	446	8	to	to	PART
cblr-1695	446	9	file	file	VERB
cblr-1695	446	10	alternative	alternative	ADJ
cblr-1695	446	11	registration	registration	NOUN
cblr-1695	446	12	documents	document	NOUN
cblr-1695	446	13	—	—	PUNCT
cblr-1695	446	14	such	such	ADJ
cblr-1695	446	15	as	as	ADP
cblr-1695	446	16	a	a	DET
cblr-1695	446	17	form	form	NOUN
cblr-1695	446	18	1	1	NUM
cblr-1695	446	19	-	-	SYM
cblr-1695	446	20	a	a	NOUN
cblr-1695	446	21	—	—	PUNCT
cblr-1695	446	22	rather	rather	ADV
cblr-1695	446	23	than	than	ADP
cblr-1695	446	24	a	a	DET
cblr-1695	446	25	form	form	NOUN
cblr-1695	446	26	s-1	s-1	NOUN
cblr-1695	446	27	.	.	PUNCT
cblr-1695	447	1	the	the	DET
cblr-1695	447	2	reasons	reason	NOUN
cblr-1695	447	3	for	for	ADP
cblr-1695	447	4	these	these	DET
cblr-1695	447	5	alternative	alternative	ADJ
cblr-1695	447	6	processes	process	NOUN
cblr-1695	447	7	are	be	AUX
cblr-1695	447	8	beyond	beyond	ADP
cblr-1695	447	9	the	the	DET
cblr-1695	447	10	scope	scope	NOUN
cblr-1695	447	11	of	of	ADP
cblr-1695	447	12	this	this	DET
cblr-1695	447	13	note	note	NOUN
cblr-1695	447	14	.	.	PUNCT
cblr-1695	448	1	therefore	therefore	ADV
cblr-1695	448	2	,	,	PUNCT
cblr-1695	448	3	it	it	PRON
cblr-1695	448	4	suffices	suffice	VERB
cblr-1695	448	5	to	to	PART
cblr-1695	448	6	say	say	VERB
cblr-1695	448	7	here	here	ADV
cblr-1695	448	8	that	that	SCONJ
cblr-1695	448	9	only	only	ADJ
cblr-1695	448	10	companies	company	NOUN
cblr-1695	448	11	that	that	PRON
cblr-1695	448	12	had	have	VERB
cblr-1695	448	13	an	an	DET
cblr-1695	448	14	accessible	accessible	ADJ
cblr-1695	448	15	form	form	NOUN
cblr-1695	448	16	s-1	s-1	NOUN
cblr-1695	448	17	filed	file	VERB
cblr-1695	448	18	with	with	ADP
cblr-1695	448	19	the	the	DET
cblr-1695	448	20	sec	sec	PROPN
cblr-1695	448	21	were	be	AUX
cblr-1695	448	22	included	include	VERB
cblr-1695	448	23	in	in	ADP
cblr-1695	448	24	the	the	DET
cblr-1695	448	25	data	datum	NOUN
cblr-1695	448	26	set	set	VERB
cblr-1695	448	27	.	.	PUNCT
cblr-1695	449	1	147	147	NUM
cblr-1695	449	2	because	because	SCONJ
cblr-1695	449	3	of	of	ADP
cblr-1695	449	4	filtering	filter	VERB
cblr-1695	449	5	choices	choice	NOUN
cblr-1695	449	6	,	,	PUNCT
cblr-1695	449	7	other	other	ADJ
cblr-1695	449	8	ipo	ipo	NOUN
cblr-1695	449	9	studies	study	NOUN
cblr-1695	449	10	may	may	AUX
cblr-1695	449	11	result	result	VERB
cblr-1695	449	12	in	in	ADP
cblr-1695	449	13	slightly	slightly	ADV
cblr-1695	449	14	different	different	ADJ
cblr-1695	449	15	numbers	number	NOUN
cblr-1695	449	16	of	of	ADP
cblr-1695	449	17	ipos	ipos	NOUN
cblr-1695	449	18	for	for	ADP
cblr-1695	449	19	a	a	DET
cblr-1695	449	20	given	give	VERB
cblr-1695	449	21	time	time	NOUN
cblr-1695	449	22	period	period	NOUN
cblr-1695	449	23	.	.	PUNCT
cblr-1695	450	1	for	for	ADP
cblr-1695	450	2	example	example	NOUN
cblr-1695	450	3	,	,	PUNCT
cblr-1695	450	4	professor	professor	NOUN
cblr-1695	450	5	ritter	ritter	PROPN
cblr-1695	450	6	reports	report	VERB
cblr-1695	450	7	115	115	NUM
cblr-1695	450	8	ipos	ipos	NOUN
cblr-1695	450	9	in	in	ADP
cblr-1695	450	10	2015	2015	NUM
cblr-1695	450	11	,	,	PUNCT
cblr-1695	450	12	seventy	seventy	NUM
cblr-1695	450	13	-	-	PUNCT
cblr-1695	450	14	four	four	NUM
cblr-1695	450	15	ipos	ipos	NOUN
cblr-1695	450	16	in	in	ADP
cblr-1695	450	17	2016	2016	NUM
cblr-1695	450	18	,	,	PUNCT
cblr-1695	450	19	and	and	CCONJ
cblr-1695	450	20	108	108	NUM
cblr-1695	450	21	ipos	ipos	NOUN
cblr-1695	450	22	in	in	ADP
cblr-1695	450	23	2017	2017	NUM
cblr-1695	450	24	.	.	PUNCT
cblr-1695	451	1	ritter	ritter	PROPN
cblr-1695	451	2	,	,	PUNCT
cblr-1695	451	3	supra	supra	PROPN
cblr-1695	451	4	note	note	NOUN
cblr-1695	451	5	141	141	NUM
cblr-1695	451	6	,	,	PUNCT
cblr-1695	451	7	at	at	ADP
cblr-1695	451	8	40	40	NUM
cblr-1695	451	9	tbl.15	tbl.15	NOUN
cblr-1695	451	10	.	.	PUNCT
cblr-1695	452	1	however	however	ADV
cblr-1695	452	2	,	,	PUNCT
cblr-1695	452	3	another	another	DET
cblr-1695	452	4	report	report	NOUN
cblr-1695	452	5	states	state	VERB
cblr-1695	452	6	there	there	PRON
cblr-1695	452	7	were	be	VERB
cblr-1695	452	8	151	151	NUM
cblr-1695	452	9	ipos	ipos	NOUN
cblr-1695	452	10	in	in	ADP
cblr-1695	452	11	2015	2015	NUM
cblr-1695	452	12	,	,	PUNCT
cblr-1695	452	13	ninety	ninety	NUM
cblr-1695	452	14	-	-	PUNCT
cblr-1695	452	15	four	four	NUM
cblr-1695	452	16	ipos	ipos	NOUN
cblr-1695	452	17	in	in	ADP
cblr-1695	452	18	2016	2016	NUM
cblr-1695	452	19	,	,	PUNCT
cblr-1695	452	20	and	and	CCONJ
cblr-1695	452	21	151	151	NUM
cblr-1695	452	22	ipos	ipos	NOUN
cblr-1695	452	23	in	in	ADP
cblr-1695	452	24	2017	2017	NUM
cblr-1695	452	25	.	.	PUNCT
cblr-1695	453	1	john	john	PROPN
cblr-1695	453	2	e.	e.	PROPN
cblr-1695	453	3	fitzgibbon	fitzgibbon	PROPN
cblr-1695	453	4	jr	jr	PROPN
cblr-1695	453	5	.	.	PROPN
cblr-1695	453	6	,	,	PUNCT
cblr-1695	453	7	the	the	DET
cblr-1695	453	8	ipo	ipo	PROPN
cblr-1695	453	9	buzz	buzz	VERB
cblr-1695	453	10	:	:	PUNCT
cblr-1695	453	11	recovery	recovery	NOUN
cblr-1695	453	12	year	year	NOUN
cblr-1695	453	13	in	in	ADP
cblr-1695	453	14	rearview	rearview	NOUN
cblr-1695	453	15	mirror	mirror	NOUN
cblr-1695	453	16	,	,	PUNCT
cblr-1695	453	17	iposcoop.com	iposcoop.com	X
cblr-1695	453	18	(	(	PUNCT
cblr-1695	453	19	jan	jan	PROPN
cblr-1695	453	20	.	.	PROPN
cblr-1695	453	21	1	1	NUM
cblr-1695	453	22	,	,	PUNCT
cblr-1695	453	23	2018	2018	NUM
cblr-1695	453	24	)	)	PUNCT
cblr-1695	453	25	,	,	PUNCT
cblr-1695	453	26	https://www.iposcoop.com/the-ipobuzz-recovery-year-in-rearview-mirror/	https://www.iposcoop.com/the-ipobuzz-recovery-year-in-rearview-mirror/	VERB
cblr-1695	454	1	[	[	X
cblr-1695	454	2	https://perma.cc/nph4-htm2	https://perma.cc/nph4-htm2	X
cblr-1695	454	3	]	]	X
cblr-1695	454	4	.	.	PUNCT
cblr-1695	455	1	this	this	PRON
cblr-1695	455	2	also	also	ADV
cblr-1695	455	3	explains	explain	VERB
cblr-1695	455	4	why	why	SCONJ
cblr-1695	455	5	the	the	DET
cblr-1695	455	6	studies	study	NOUN
cblr-1695	455	7	cited	cite	VERB
cblr-1695	455	8	supra	supra	PROPN
cblr-1695	455	9	section	section	NOUN
cblr-1695	455	10	iii.a	iii.a	PROPN
cblr-1695	455	11	may	may	AUX
cblr-1695	455	12	report	report	VERB
cblr-1695	455	13	slightly	slightly	ADV
cblr-1695	455	14	different	different	ADJ
cblr-1695	455	15	numbers	number	NOUN
cblr-1695	455	16	of	of	ADP
cblr-1695	455	17	ipos	ipos	NOUN
cblr-1695	455	18	in	in	ADP
cblr-1695	455	19	a	a	DET
cblr-1695	455	20	given	give	VERB
cblr-1695	455	21	time	time	NOUN
cblr-1695	455	22	period	period	NOUN
cblr-1695	455	23	.	.	PUNCT
cblr-1695	456	1	148	148	NUM
cblr-1695	456	2	edgar	edgar	NOUN
cblr-1695	456	3	,	,	PUNCT
cblr-1695	456	4	u.s	u.s	PROPN
cblr-1695	456	5	.	.	PROPN
cblr-1695	456	6	sec	sec	PROPN
cblr-1695	456	7	.	.	PROPN
cblr-1695	456	8	&	&	CCONJ
cblr-1695	456	9	exchange	exchange	PROPN
cblr-1695	456	10	commission	commission	PROPN
cblr-1695	456	11	,	,	PUNCT
cblr-1695	456	12	https://www.sec.gov/	https://www.sec.gov/	VERB
cblr-1695	456	13	edgar	edgar	NOUN
cblr-1695	456	14	/	/	SYM
cblr-1695	456	15	searchedgar	searchedgar	NOUN
cblr-1695	456	16	/	/	SYM
cblr-1695	456	17	companysearch.html	companysearch.html	PROPN
cblr-1695	457	1	[	[	X
cblr-1695	457	2	https://perma.cc/p6zu-d2ag	https://perma.cc/p6zu-d2ag	X
cblr-1695	457	3	]	]	X
cblr-1695	457	4	(	(	PUNCT
cblr-1695	457	5	last	last	ADV
cblr-1695	457	6	visited	visit	VERB
cblr-1695	457	7	oct	oct	PROPN
cblr-1695	457	8	.	.	PROPN
cblr-1695	457	9	27	27	NUM
cblr-1695	457	10	,	,	PUNCT
cblr-1695	457	11	2018	2018	NUM
cblr-1695	457	12	)	)	PUNCT
cblr-1695	457	13	.	.	PUNCT
cblr-1695	458	1	149	149	NUM
cblr-1695	458	2	in	in	ADP
cblr-1695	458	3	some	some	DET
cblr-1695	458	4	instances	instance	NOUN
cblr-1695	458	5	,	,	PUNCT
cblr-1695	458	6	the	the	DET
cblr-1695	458	7	filing	filing	NOUN
cblr-1695	458	8	date	date	NOUN
cblr-1695	458	9	provided	provide	VERB
cblr-1695	458	10	by	by	ADP
cblr-1695	458	11	sdc	sdc	PROPN
cblr-1695	458	12	platinum	platinum	NOUN
cblr-1695	458	13	was	be	AUX
cblr-1695	458	14	incorrect	incorrect	ADJ
cblr-1695	458	15	.	.	PUNCT
cblr-1695	459	1	however	however	ADV
cblr-1695	459	2	,	,	PUNCT
cblr-1695	459	3	this	this	PRON
cblr-1695	459	4	did	do	AUX
cblr-1695	459	5	not	not	PART
cblr-1695	459	6	pose	pose	VERB
cblr-1695	459	7	a	a	DET
cblr-1695	459	8	problem	problem	NOUN
cblr-1695	459	9	because	because	SCONJ
cblr-1695	459	10	in	in	ADP
cblr-1695	459	11	the	the	DET
cblr-1695	459	12	vast	vast	ADJ
cblr-1695	459	13	majority	majority	NOUN
cblr-1695	459	14	of	of	ADP
cblr-1695	459	15	cases	case	NOUN
cblr-1695	459	16	,	,	PUNCT
cblr-1695	459	17	a	a	DET
cblr-1695	459	18	company	company	NOUN
cblr-1695	459	19	only	only	ADV
cblr-1695	459	20	files	file	VERB
cblr-1695	459	21	one	one	NUM
cblr-1695	459	22	form	form	NOUN
cblr-1695	459	23	s-1	s-1	NOUN
cblr-1695	459	24	and	and	CCONJ
cblr-1695	459	25	,	,	PUNCT
cblr-1695	459	26	therefore	therefore	ADV
cblr-1695	459	27	,	,	PUNCT
cblr-1695	459	28	the	the	DET
cblr-1695	459	29	correct	correct	ADJ
cblr-1695	459	30	document	document	NOUN
cblr-1695	459	31	was	be	AUX
cblr-1695	459	32	easily	easily	ADV
cblr-1695	459	33	located	locate	VERB
cblr-1695	459	34	within	within	ADP
cblr-1695	459	35	edgar	edgar	NOUN
cblr-1695	459	36	.	.	PUNCT
cblr-1695	460	1	334	334	NUM
cblr-1695	460	2	columbia	columbia	PROPN
cblr-1695	460	3	business	business	NOUN
cblr-1695	460	4	law	law	PROPN
cblr-1695	460	5	review	review	NOUN
cblr-1695	460	6	[	[	X
cblr-1695	460	7	vol	vol	NOUN
cblr-1695	460	8	.	.	PUNCT
cblr-1695	460	9	2019	2019	NUM
cblr-1695	460	10	status	status	NOUN
cblr-1695	460	11	by	by	ADP
cblr-1695	460	12	noting	note	VERB
cblr-1695	460	13	it	it	PRON
cblr-1695	460	14	within	within	ADP
cblr-1695	460	15	their	their	PRON
cblr-1695	460	16	prospectus	prospectus	NOUN
cblr-1695	460	17	and	and	CCONJ
cblr-1695	460	18	by	by	ADP
cblr-1695	460	19	checking	check	VERB
cblr-1695	460	20	the	the	DET
cblr-1695	460	21	relevant	relevant	ADJ
cblr-1695	460	22	box	box	NOUN
cblr-1695	460	23	on	on	ADP
cblr-1695	460	24	the	the	DET
cblr-1695	460	25	first	first	ADJ
cblr-1695	460	26	page	page	NOUN
cblr-1695	460	27	of	of	ADP
cblr-1695	460	28	the	the	DET
cblr-1695	460	29	form	form	NOUN
cblr-1695	460	30	s-1.150	s-1.150	PUNCT
cblr-1695	460	31	for	for	ADP
cblr-1695	460	32	egcs	egcs	ADJ
cblr-1695	460	33	,	,	PUNCT
cblr-1695	460	34	edgar	edgar	PROPN
cblr-1695	460	35	was	be	AUX
cblr-1695	460	36	then	then	ADV
cblr-1695	460	37	further	far	ADV
cblr-1695	460	38	used	use	VERB
cblr-1695	460	39	to	to	PART
cblr-1695	460	40	determine	determine	VERB
cblr-1695	460	41	if	if	SCONJ
cblr-1695	460	42	the	the	DET
cblr-1695	460	43	company	company	NOUN
cblr-1695	460	44	opted	opt	VERB
cblr-1695	460	45	to	to	PART
cblr-1695	460	46	first	first	ADV
cblr-1695	460	47	confidentially	confidentially	ADV
cblr-1695	460	48	file	file	VERB
cblr-1695	460	49	a	a	DET
cblr-1695	460	50	drs	drs	NOUN
cblr-1695	460	51	prior	prior	ADV
cblr-1695	460	52	to	to	ADP
cblr-1695	460	53	its	its	PRON
cblr-1695	460	54	public	public	ADJ
cblr-1695	460	55	filing	filing	NOUN
cblr-1695	460	56	of	of	ADP
cblr-1695	460	57	the	the	DET
cblr-1695	460	58	form	form	NOUN
cblr-1695	460	59	s-1	s-1	NOUN
cblr-1695	460	60	.	.	PUNCT
cblr-1695	461	1	although	although	SCONJ
cblr-1695	461	2	a	a	DET
cblr-1695	461	3	drs	drs	NOUN
cblr-1695	461	4	is	be	AUX
cblr-1695	461	5	initially	initially	ADV
cblr-1695	461	6	confidential	confidential	ADJ
cblr-1695	461	7	,	,	PUNCT
cblr-1695	461	8	it	it	PRON
cblr-1695	461	9	—	—	PUNCT
cblr-1695	461	10	along	along	ADP
cblr-1695	461	11	with	with	ADP
cblr-1695	461	12	any	any	DET
cblr-1695	461	13	correspondence	correspondence	NOUN
cblr-1695	461	14	between	between	ADP
cblr-1695	461	15	the	the	DET
cblr-1695	461	16	issuer	issuer	NOUN
cblr-1695	461	17	’s	’s	PART
cblr-1695	461	18	law	law	NOUN
cblr-1695	461	19	firm	firm	NOUN
cblr-1695	461	20	and	and	CCONJ
cblr-1695	461	21	the	the	DET
cblr-1695	461	22	sec	sec	PROPN
cblr-1695	461	23	—	—	PUNCT
cblr-1695	461	24	becomes	become	VERB
cblr-1695	461	25	public	public	ADJ
cblr-1695	461	26	after	after	SCONJ
cblr-1695	461	27	a	a	DET
cblr-1695	461	28	company	company	NOUN
cblr-1695	461	29	publicly	publicly	ADV
cblr-1695	461	30	files	file	VERB
cblr-1695	461	31	a	a	DET
cblr-1695	461	32	form	form	NOUN
cblr-1695	461	33	s-1.151	s-1.151	NUM
cblr-1695	461	34	issuers	issuer	NOUN
cblr-1695	461	35	that	that	PRON
cblr-1695	461	36	had	have	AUX
cblr-1695	461	37	filed	file	VERB
cblr-1695	461	38	a	a	DET
cblr-1695	461	39	drs	dr	NOUN
cblr-1695	461	40	were	be	AUX
cblr-1695	461	41	coded	code	VERB
cblr-1695	461	42	as	as	ADP
cblr-1695	461	43	“	"	PUNCT
cblr-1695	461	44	yes	yes	INTJ
cblr-1695	461	45	,	,	PUNCT
cblr-1695	461	46	”	"	PUNCT
cblr-1695	461	47	meaning	mean	VERB
cblr-1695	461	48	they	they	PRON
cblr-1695	461	49	utilized	utilize	VERB
cblr-1695	461	50	the	the	DET
cblr-1695	461	51	confidential	confidential	ADJ
cblr-1695	461	52	filing	filing	NOUN
cblr-1695	461	53	option	option	NOUN
cblr-1695	461	54	granted	grant	VERB
cblr-1695	461	55	to	to	ADP
cblr-1695	461	56	them	they	PRON
cblr-1695	461	57	by	by	ADP
cblr-1695	461	58	the	the	DET
cblr-1695	461	59	jobs	job	NOUN
cblr-1695	461	60	act	act	PROPN
cblr-1695	461	61	.	.	PUNCT
cblr-1695	462	1	egcs	egcs	PROPN
cblr-1695	462	2	that	that	PRON
cblr-1695	462	3	filed	file	VERB
cblr-1695	462	4	a	a	DET
cblr-1695	462	5	form	form	NOUN
cblr-1695	462	6	s-1	s-1	NOUN
cblr-1695	462	7	without	without	ADP
cblr-1695	462	8	filing	file	VERB
cblr-1695	462	9	a	a	DET
cblr-1695	462	10	drs	dr	NOUN
cblr-1695	462	11	at	at	ADP
cblr-1695	462	12	an	an	DET
cblr-1695	462	13	earlier	early	ADJ
cblr-1695	462	14	date	date	NOUN
cblr-1695	462	15	were	be	AUX
cblr-1695	462	16	coded	code	VERB
cblr-1695	462	17	as	as	ADP
cblr-1695	462	18	“	"	PUNCT
cblr-1695	462	19	no	no	INTJ
cblr-1695	462	20	,	,	PUNCT
cblr-1695	462	21	”	"	PUNCT
cblr-1695	462	22	meaning	mean	VERB
cblr-1695	462	23	they	they	PRON
cblr-1695	462	24	did	do	AUX
cblr-1695	462	25	not	not	PART
cblr-1695	462	26	use	use	VERB
cblr-1695	462	27	the	the	DET
cblr-1695	462	28	confidential	confidential	ADJ
cblr-1695	462	29	submission	submission	NOUN
cblr-1695	462	30	process	process	NOUN
cblr-1695	462	31	.	.	PUNCT
cblr-1695	463	1	for	for	ADP
cblr-1695	463	2	any	any	DET
cblr-1695	463	3	company	company	NOUN
cblr-1695	463	4	that	that	PRON
cblr-1695	463	5	did	do	AUX
cblr-1695	463	6	not	not	PART
cblr-1695	463	7	claim	claim	VERB
cblr-1695	463	8	egc	egc	ADJ
cblr-1695	463	9	status	status	NOUN
cblr-1695	463	10	on	on	ADP
cblr-1695	463	11	its	its	PRON
cblr-1695	463	12	form	form	NOUN
cblr-1695	463	13	s-1	s-1	NOUN
cblr-1695	463	14	,	,	PUNCT
cblr-1695	463	15	the	the	DET
cblr-1695	463	16	author	author	NOUN
cblr-1695	463	17	confirmed	confirm	VERB
cblr-1695	463	18	it	it	PRON
cblr-1695	463	19	was	be	AUX
cblr-1695	463	20	a	a	DET
cblr-1695	463	21	non	non	ADJ
cblr-1695	463	22	-	-	ADJ
cblr-1695	463	23	egc	egc	ADJ
cblr-1695	463	24	by	by	ADP
cblr-1695	463	25	examining	examine	VERB
cblr-1695	463	26	the	the	DET
cblr-1695	463	27	company	company	NOUN
cblr-1695	463	28	’s	’s	PART
cblr-1695	463	29	financial	financial	ADJ
cblr-1695	463	30	statements	statement	NOUN
cblr-1695	463	31	within	within	ADP
cblr-1695	463	32	its	its	PRON
cblr-1695	463	33	prospectus	prospectus	NOUN
cblr-1695	463	34	and	and	CCONJ
cblr-1695	463	35	verifying	verify	VERB
cblr-1695	463	36	the	the	DET
cblr-1695	463	37	company	company	NOUN
cblr-1695	463	38	earned	earn	VERB
cblr-1695	463	39	revenue	revenue	NOUN
cblr-1695	463	40	of	of	ADP
cblr-1695	463	41	$	$	SYM
cblr-1695	463	42	1.07	1.07	NUM
cblr-1695	463	43	billion	billion	NUM
cblr-1695	463	44	or	or	CCONJ
cblr-1695	463	45	more	more	ADJ
cblr-1695	463	46	in	in	ADP
cblr-1695	463	47	its	its	PRON
cblr-1695	463	48	most	most	ADV
cblr-1695	463	49	recently	recently	ADV
cblr-1695	463	50	completed	complete	VERB
cblr-1695	463	51	fiscal	fiscal	ADJ
cblr-1695	463	52	year.152	year.152	NOUN
cblr-1695	463	53	for	for	ADP
cblr-1695	463	54	non	non	ADJ
cblr-1695	463	55	-	-	ADJ
cblr-1695	463	56	egcs	egcs	ADJ
cblr-1695	463	57	that	that	PRON
cblr-1695	463	58	filed	file	VERB
cblr-1695	463	59	their	their	PRON
cblr-1695	463	60	form	form	NOUN
cblr-1695	463	61	s-1s	s-1s	ADJ
cblr-1695	463	62	prior	prior	ADV
cblr-1695	463	63	to	to	ADP
cblr-1695	463	64	the	the	DET
cblr-1695	463	65	july	july	PROPN
cblr-1695	463	66	2017	2017	NUM
cblr-1695	463	67	change	change	NOUN
cblr-1695	463	68	,	,	PUNCT
cblr-1695	463	69	this	this	PRON
cblr-1695	463	70	was	be	AUX
cblr-1695	463	71	the	the	DET
cblr-1695	463	72	end	end	NOUN
cblr-1695	463	73	of	of	ADP
cblr-1695	463	74	the	the	DET
cblr-1695	463	75	inquiry	inquiry	NOUN
cblr-1695	463	76	since	since	SCONJ
cblr-1695	463	77	no	no	DET
cblr-1695	463	78	confidential	confidential	ADJ
cblr-1695	463	79	drs	drs	ADJ
cblr-1695	463	80	process	process	NOUN
cblr-1695	463	81	was	be	AUX
cblr-1695	463	82	available	available	ADJ
cblr-1695	463	83	to	to	ADP
cblr-1695	463	84	these	these	DET
cblr-1695	463	85	issuers	issuer	NOUN
cblr-1695	463	86	.	.	PUNCT
cblr-1695	464	1	for	for	ADP
cblr-1695	464	2	companies	company	NOUN
cblr-1695	464	3	that	that	PRON
cblr-1695	464	4	filed	file	VERB
cblr-1695	464	5	a	a	DET
cblr-1695	464	6	form	form	NOUN
cblr-1695	464	7	s-1	s-1	NOUN
cblr-1695	464	8	after	after	ADP
cblr-1695	464	9	the	the	DET
cblr-1695	464	10	july	july	PROPN
cblr-1695	464	11	2017	2017	NUM
cblr-1695	464	12	change	change	NOUN
cblr-1695	464	13	,	,	PUNCT
cblr-1695	464	14	edgar	edgar	PROPN
cblr-1695	464	15	was	be	AUX
cblr-1695	464	16	then	then	ADV
cblr-1695	464	17	used	use	VERB
cblr-1695	464	18	to	to	PART
cblr-1695	464	19	repeat	repeat	VERB
cblr-1695	464	20	the	the	DET
cblr-1695	464	21	process	process	NOUN
cblr-1695	464	22	conducted	conduct	VERB
cblr-1695	464	23	for	for	ADP
cblr-1695	464	24	egcs	egcs	PROPN
cblr-1695	464	25	to	to	PART
cblr-1695	464	26	determine	determine	VERB
cblr-1695	464	27	if	if	SCONJ
cblr-1695	464	28	these	these	DET
cblr-1695	464	29	companies	company	NOUN
cblr-1695	464	30	had	have	AUX
cblr-1695	464	31	filed	file	VERB
cblr-1695	464	32	a	a	DET
cblr-1695	464	33	confidential	confidential	ADJ
cblr-1695	464	34	drs	dr	NOUN
cblr-1695	464	35	before	before	ADP
cblr-1695	464	36	filing	file	VERB
cblr-1695	464	37	their	their	PRON
cblr-1695	464	38	form	form	NOUN
cblr-1695	464	39	s-1	s-1	NOUN
cblr-1695	464	40	.	.	PUNCT
cblr-1695	465	1	150	150	NUM
cblr-1695	465	2	for	for	ADP
cblr-1695	465	3	many	many	ADJ
cblr-1695	465	4	form	form	NOUN
cblr-1695	465	5	s-1s	s-1s	ADJ
cblr-1695	465	6	,	,	PUNCT
cblr-1695	465	7	particularly	particularly	ADV
cblr-1695	465	8	older	old	ADJ
cblr-1695	465	9	ones	one	NOUN
cblr-1695	465	10	,	,	PUNCT
cblr-1695	465	11	there	there	PRON
cblr-1695	465	12	is	be	VERB
cblr-1695	465	13	no	no	DET
cblr-1695	465	14	box	box	NOUN
cblr-1695	465	15	to	to	PART
cblr-1695	465	16	check	check	VERB
cblr-1695	465	17	stating	state	VERB
cblr-1695	465	18	that	that	SCONJ
cblr-1695	465	19	a	a	DET
cblr-1695	465	20	company	company	NOUN
cblr-1695	465	21	is	be	AUX
cblr-1695	465	22	an	an	DET
cblr-1695	465	23	egc	egc	NOUN
cblr-1695	465	24	.	.	PUNCT
cblr-1695	466	1	for	for	ADP
cblr-1695	466	2	these	these	DET
cblr-1695	466	3	companies	company	NOUN
cblr-1695	466	4	,	,	PUNCT
cblr-1695	466	5	the	the	DET
cblr-1695	466	6	author	author	NOUN
cblr-1695	466	7	of	of	ADP
cblr-1695	466	8	this	this	DET
cblr-1695	466	9	note	note	NOUN
cblr-1695	466	10	relied	rely	VERB
cblr-1695	466	11	solely	solely	ADV
cblr-1695	466	12	on	on	ADP
cblr-1695	466	13	the	the	DET
cblr-1695	466	14	language	language	NOUN
cblr-1695	466	15	of	of	ADP
cblr-1695	466	16	the	the	DET
cblr-1695	466	17	prospectus	prospectus	NOUN
cblr-1695	466	18	.	.	PUNCT
cblr-1695	467	1	151	151	NUM
cblr-1695	467	2	see	see	VERB
cblr-1695	467	3	telis	telis	PROPN
cblr-1695	467	4	demos	demos	PROPN
cblr-1695	467	5	,	,	PUNCT
cblr-1695	467	6	companies	company	NOUN
cblr-1695	467	7	find	find	VERB
cblr-1695	467	8	a	a	DET
cblr-1695	467	9	faster	fast	ADJ
cblr-1695	467	10	ipo	ipo	NOUN
cblr-1695	467	11	turnaround	turnaround	NOUN
cblr-1695	467	12	does	do	AUX
cblr-1695	467	13	n’t	not	PART
cblr-1695	467	14	hurt	hurt	VERB
cblr-1695	467	15	,	,	PUNCT
cblr-1695	468	1	wall	wall	PROPN
cblr-1695	468	2	st	st	PROPN
cblr-1695	468	3	.	.	PROPN
cblr-1695	468	4	j.	j.	PROPN
cblr-1695	468	5	(	(	PUNCT
cblr-1695	468	6	sept	sept	PROPN
cblr-1695	468	7	.	.	PROPN
cblr-1695	468	8	29	29	NUM
cblr-1695	468	9	,	,	PUNCT
cblr-1695	468	10	2013	2013	NUM
cblr-1695	468	11	)	)	PUNCT
cblr-1695	468	12	,	,	PUNCT
cblr-1695	468	13	https://www.wsj.com/articles/companiesfind-a-faster-ipo-turnaround-doesn8217t-hurt-1380492164?mg=prod/	https://www.wsj.com/articles/companiesfind-a-faster-ipo-turnaround-doesn8217t-hurt-1380492164?mg=prod/	NOUN
cblr-1695	468	14	accounts	account	NOUN
cblr-1695	468	15	-	-	PUNCT
cblr-1695	468	16	wsj	wsj	NOUN
cblr-1695	468	17	(	(	PUNCT
cblr-1695	468	18	on	on	ADP
cblr-1695	468	19	file	file	NOUN
cblr-1695	468	20	with	with	ADP
cblr-1695	468	21	the	the	DET
cblr-1695	468	22	columbia	columbia	PROPN
cblr-1695	468	23	business	business	PROPN
cblr-1695	468	24	law	law	PROPN
cblr-1695	468	25	review	review	PROPN
cblr-1695	468	26	)	)	PUNCT
cblr-1695	468	27	(	(	PUNCT
cblr-1695	468	28	“	"	PUNCT
cblr-1695	468	29	eventually	eventually	ADV
cblr-1695	468	30	,	,	PUNCT
cblr-1695	468	31	all	all	DET
cblr-1695	468	32	drafts	draft	NOUN
cblr-1695	468	33	of	of	ADP
cblr-1695	468	34	the	the	DET
cblr-1695	468	35	prospectus	prospectus	NOUN
cblr-1695	468	36	are	be	AUX
cblr-1695	468	37	revealed	reveal	VERB
cblr-1695	468	38	when	when	SCONJ
cblr-1695	468	39	the	the	DET
cblr-1695	468	40	documents	document	NOUN
cblr-1695	468	41	are	be	AUX
cblr-1695	468	42	publicly	publicly	ADV
cblr-1695	468	43	filed	file	VERB
cblr-1695	468	44	;	;	PUNCT
cblr-1695	468	45	correspondence	correspondence	NOUN
cblr-1695	468	46	with	with	ADP
cblr-1695	468	47	the	the	DET
cblr-1695	468	48	sec	sec	PROPN
cblr-1695	468	49	is	be	AUX
cblr-1695	468	50	published	publish	VERB
cblr-1695	468	51	weeks	week	NOUN
cblr-1695	468	52	after	after	ADP
cblr-1695	468	53	the	the	DET
cblr-1695	468	54	offering	offering	NOUN
cblr-1695	468	55	,	,	PUNCT
cblr-1695	468	56	as	as	SCONJ
cblr-1695	468	57	it	it	PRON
cblr-1695	468	58	is	be	AUX
cblr-1695	468	59	with	with	ADP
cblr-1695	468	60	nonconfidentially	nonconfidentially	ADV
cblr-1695	468	61	filed	file	VERB
cblr-1695	468	62	offerings	offering	NOUN
cblr-1695	468	63	.	.	PUNCT
cblr-1695	468	64	”	"	PUNCT
cblr-1695	468	65	)	)	PUNCT
cblr-1695	468	66	.	.	PUNCT
cblr-1695	469	1	152	152	NUM
cblr-1695	469	2	a	a	DET
cblr-1695	469	3	company	company	NOUN
cblr-1695	469	4	that	that	PRON
cblr-1695	469	5	went	go	VERB
cblr-1695	469	6	public	public	ADJ
cblr-1695	469	7	prior	prior	ADV
cblr-1695	469	8	to	to	ADP
cblr-1695	469	9	april	april	PROPN
cblr-1695	469	10	2017	2017	NUM
cblr-1695	469	11	qualified	qualified	ADJ
cblr-1695	469	12	as	as	ADP
cblr-1695	469	13	a	a	DET
cblr-1695	469	14	nonegc	nonegc	ADJ
cblr-1695	469	15	if	if	SCONJ
cblr-1695	469	16	it	it	PRON
cblr-1695	469	17	earned	earn	VERB
cblr-1695	469	18	revenue	revenue	NOUN
cblr-1695	469	19	of	of	ADP
cblr-1695	469	20	$	$	SYM
cblr-1695	469	21	1.0	1.0	NUM
cblr-1695	469	22	billion	billion	NUM
cblr-1695	469	23	or	or	CCONJ
cblr-1695	469	24	more	more	ADJ
cblr-1695	469	25	in	in	ADP
cblr-1695	469	26	its	its	PRON
cblr-1695	469	27	most	most	ADV
cblr-1695	469	28	recently	recently	ADV
cblr-1695	469	29	completed	complete	VERB
cblr-1695	469	30	fiscal	fiscal	ADJ
cblr-1695	469	31	year	year	NOUN
cblr-1695	469	32	.	.	PUNCT
cblr-1695	470	1	for	for	ADP
cblr-1695	470	2	the	the	DET
cblr-1695	470	3	definition	definition	NOUN
cblr-1695	470	4	of	of	ADP
cblr-1695	470	5	an	an	DET
cblr-1695	470	6	egc	egc	NOUN
cblr-1695	470	7	,	,	PUNCT
cblr-1695	470	8	see	see	VERB
cblr-1695	470	9	supra	supra	PROPN
cblr-1695	470	10	notes	note	NOUN
cblr-1695	470	11	76–78	76–78	NUM
cblr-1695	470	12	and	and	CCONJ
cblr-1695	470	13	accompanying	accompany	VERB
cblr-1695	470	14	text	text	NOUN
cblr-1695	470	15	.	.	PUNCT
cblr-1695	471	1	a	a	PRON
cblr-1695	471	2	non	non	ADJ
cblr-1695	471	3	-	-	ADJ
cblr-1695	471	4	egc	egc	ADJ
cblr-1695	471	5	is	be	AUX
cblr-1695	471	6	defined	define	VERB
cblr-1695	471	7	as	as	ADP
cblr-1695	471	8	a	a	DET
cblr-1695	471	9	company	company	NOUN
cblr-1695	471	10	that	that	PRON
cblr-1695	471	11	does	do	AUX
cblr-1695	471	12	not	not	PART
cblr-1695	471	13	fit	fit	VERB
cblr-1695	471	14	the	the	DET
cblr-1695	471	15	definition	definition	NOUN
cblr-1695	471	16	of	of	ADP
cblr-1695	471	17	an	an	DET
cblr-1695	471	18	egc	egc	NOUN
cblr-1695	471	19	.	.	PUNCT
cblr-1695	472	1	no	no	INTJ
cblr-1695	472	2	.	.	PUNCT
cblr-1695	473	1	1:305	1:305	NUM
cblr-1695	473	2	]	]	X
cblr-1695	473	3	going	go	VERB
cblr-1695	473	4	public	public	ADJ
cblr-1695	473	5	secretly	secretly	ADV
cblr-1695	473	6	335	335	NUM
cblr-1695	473	7	this	this	DET
cblr-1695	473	8	methodology	methodology	NOUN
cblr-1695	473	9	produced	produce	VERB
cblr-1695	473	10	the	the	DET
cblr-1695	473	11	final	final	ADJ
cblr-1695	473	12	data	datum	NOUN
cblr-1695	473	13	set	set	VERB
cblr-1695	473	14	analyzed	analyze	VERB
cblr-1695	473	15	throughout	throughout	ADP
cblr-1695	473	16	the	the	DET
cblr-1695	473	17	remainder	remainder	NOUN
cblr-1695	473	18	of	of	ADP
cblr-1695	473	19	this	this	PRON
cblr-1695	473	20	note.153	note.153	ADJ
cblr-1695	473	21	2	2	NUM
cblr-1695	473	22	.	.	PUNCT
cblr-1695	473	23	results	result	NOUN
cblr-1695	473	24	and	and	CCONJ
cblr-1695	473	25	analysis	analysis	NOUN
cblr-1695	473	26	after	after	ADP
cblr-1695	473	27	deploying	deploy	VERB
cblr-1695	473	28	the	the	DET
cblr-1695	473	29	methodology	methodology	NOUN
cblr-1695	473	30	described	describe	VERB
cblr-1695	473	31	in	in	ADP
cblr-1695	473	32	section	section	NOUN
cblr-1695	473	33	iii.b.1	iii.b.1	PROPN
cblr-1695	473	34	,	,	PUNCT
cblr-1695	473	35	the	the	DET
cblr-1695	473	36	author	author	NOUN
cblr-1695	473	37	of	of	ADP
cblr-1695	473	38	this	this	DET
cblr-1695	473	39	note	note	NOUN
cblr-1695	473	40	then	then	ADV
cblr-1695	473	41	analyzed	analyze	VERB
cblr-1695	473	42	the	the	DET
cblr-1695	473	43	resulting	result	VERB
cblr-1695	473	44	data	datum	NOUN
cblr-1695	473	45	set	set	VERB
cblr-1695	473	46	to	to	PART
cblr-1695	473	47	evaluate	evaluate	VERB
cblr-1695	473	48	whether	whether	SCONJ
cblr-1695	473	49	the	the	DET
cblr-1695	473	50	july	july	PROPN
cblr-1695	473	51	2017	2017	NUM
cblr-1695	473	52	change	change	NOUN
cblr-1695	473	53	is	be	AUX
cblr-1695	473	54	a	a	DET
cblr-1695	473	55	worthwhile	worthwhile	ADJ
cblr-1695	473	56	or	or	CCONJ
cblr-1695	473	57	effective	effective	ADJ
cblr-1695	473	58	sec	sec	PROPN
cblr-1695	473	59	policy	policy	NOUN
cblr-1695	473	60	.	.	PUNCT
cblr-1695	474	1	this	this	PRON
cblr-1695	474	2	entailed	entail	VERB
cblr-1695	474	3	the	the	DET
cblr-1695	474	4	use	use	NOUN
cblr-1695	474	5	of	of	ADP
cblr-1695	474	6	three	three	NUM
cblr-1695	474	7	distinct	distinct	ADJ
cblr-1695	474	8	frameworks	framework	NOUN
cblr-1695	474	9	.	.	PUNCT
cblr-1695	475	1	framework	framework	NOUN
cblr-1695	475	2	a	a	PRON
cblr-1695	475	3	,	,	PUNCT
cblr-1695	475	4	discussed	discuss	VERB
cblr-1695	475	5	in	in	ADP
cblr-1695	475	6	section	section	NOUN
cblr-1695	475	7	iii.b.2.i	iii.b.2.i	PROPN
cblr-1695	475	8	,	,	PUNCT
cblr-1695	475	9	examines	examine	VERB
cblr-1695	475	10	total	total	ADJ
cblr-1695	475	11	ipo	ipo	NOUN
cblr-1695	475	12	activity	activity	NOUN
cblr-1695	475	13	by	by	ADP
cblr-1695	475	14	year	year	NOUN
cblr-1695	475	15	.	.	PUNCT
cblr-1695	476	1	framework	framework	PROPN
cblr-1695	476	2	b	b	PROPN
cblr-1695	476	3	,	,	PUNCT
cblr-1695	476	4	discussed	discuss	VERB
cblr-1695	476	5	in	in	ADP
cblr-1695	476	6	section	section	NOUN
cblr-1695	476	7	iii.b.2.ii	iii.b.2.ii	NOUN
cblr-1695	476	8	,	,	PUNCT
cblr-1695	476	9	looks	look	VERB
cblr-1695	476	10	at	at	ADP
cblr-1695	476	11	whether	whether	SCONJ
cblr-1695	476	12	non	non	ADJ
cblr-1695	476	13	-	-	ADJ
cblr-1695	476	14	egcs	egcs	ADJ
cblr-1695	476	15	have	have	AUX
cblr-1695	476	16	used	use	VERB
cblr-1695	476	17	the	the	DET
cblr-1695	476	18	privilege	privilege	NOUN
cblr-1695	476	19	of	of	ADP
cblr-1695	476	20	confidential	confidential	ADJ
cblr-1695	476	21	filing	filing	NOUN
cblr-1695	476	22	granted	grant	VERB
cblr-1695	476	23	to	to	ADP
cblr-1695	476	24	them	they	PRON
cblr-1695	476	25	by	by	ADP
cblr-1695	476	26	the	the	DET
cblr-1695	476	27	july	july	PROPN
cblr-1695	476	28	2017	2017	NUM
cblr-1695	476	29	change	change	NOUN
cblr-1695	476	30	at	at	ADP
cblr-1695	476	31	the	the	DET
cblr-1695	476	32	same	same	ADJ
cblr-1695	476	33	rate	rate	NOUN
cblr-1695	476	34	as	as	ADP
cblr-1695	476	35	egcs	egcs	ADJ
cblr-1695	476	36	.	.	PUNCT
cblr-1695	477	1	framework	framework	PROPN
cblr-1695	477	2	c	c	PROPN
cblr-1695	477	3	,	,	PUNCT
cblr-1695	477	4	discussed	discuss	VERB
cblr-1695	477	5	in	in	ADP
cblr-1695	477	6	section	section	NOUN
cblr-1695	477	7	iii.b.2.iii	iii.b.2.iii	PROPN
cblr-1695	477	8	,	,	PUNCT
cblr-1695	477	9	directly	directly	ADV
cblr-1695	477	10	compares	compare	VERB
cblr-1695	477	11	ipo	ipo	NOUN
cblr-1695	477	12	activity	activity	NOUN
cblr-1695	477	13	before	before	ADV
cblr-1695	477	14	and	and	CCONJ
cblr-1695	477	15	after	after	ADP
cblr-1695	477	16	the	the	DET
cblr-1695	477	17	july	july	PROPN
cblr-1695	477	18	2017	2017	NUM
cblr-1695	477	19	change	change	NOUN
cblr-1695	477	20	.	.	PUNCT
cblr-1695	478	1	i.	i.	PROPN
cblr-1695	478	2	framework	framework	PROPN
cblr-1695	478	3	a	a	DET
cblr-1695	478	4	:	:	PUNCT
cblr-1695	478	5	total	total	ADJ
cblr-1695	478	6	ipo	ipo	NOUN
cblr-1695	478	7	activity	activity	NOUN
cblr-1695	478	8	as	as	ADP
cblr-1695	478	9	a	a	DET
cblr-1695	478	10	first	first	ADJ
cblr-1695	478	11	method	method	NOUN
cblr-1695	478	12	of	of	ADP
cblr-1695	478	13	analysis	analysis	NOUN
cblr-1695	478	14	,	,	PUNCT
cblr-1695	478	15	it	it	PRON
cblr-1695	478	16	is	be	AUX
cblr-1695	478	17	helpful	helpful	ADJ
cblr-1695	478	18	to	to	PART
cblr-1695	478	19	compare	compare	VERB
cblr-1695	478	20	the	the	DET
cblr-1695	478	21	number	number	NOUN
cblr-1695	478	22	of	of	ADP
cblr-1695	478	23	ipos	ipos	NOUN
cblr-1695	478	24	in	in	ADP
cblr-1695	478	25	2015	2015	NUM
cblr-1695	478	26	,	,	PUNCT
cblr-1695	478	27	2016	2016	NUM
cblr-1695	478	28	,	,	PUNCT
cblr-1695	478	29	2017	2017	NUM
cblr-1695	478	30	,	,	PUNCT
cblr-1695	478	31	and	and	CCONJ
cblr-1695	478	32	the	the	DET
cblr-1695	478	33	first	first	ADJ
cblr-1695	478	34	half	half	NOUN
cblr-1695	478	35	of	of	ADP
cblr-1695	478	36	2018	2018	NUM
cblr-1695	478	37	.	.	PUNCT
cblr-1695	479	1	although	although	SCONJ
cblr-1695	479	2	the	the	DET
cblr-1695	479	3	july	july	PROPN
cblr-1695	479	4	2017	2017	NUM
cblr-1695	479	5	change	change	NOUN
cblr-1695	479	6	became	become	VERB
cblr-1695	479	7	effective	effective	ADJ
cblr-1695	479	8	on	on	ADP
cblr-1695	479	9	july	july	PROPN
cblr-1695	479	10	10	10	NUM
cblr-1695	479	11	,	,	PUNCT
cblr-1695	479	12	2017	2017	NUM
cblr-1695	479	13	,	,	PUNCT
cblr-1695	479	14	there	there	PRON
cblr-1695	479	15	were	be	VERB
cblr-1695	479	16	no	no	DET
cblr-1695	479	17	2017	2017	NUM
cblr-1695	479	18	ipos	ipos	NOUN
cblr-1695	479	19	from	from	ADP
cblr-1695	479	20	july	july	PROPN
cblr-1695	479	21	1	1	NUM
cblr-1695	479	22	,	,	PUNCT
cblr-1695	479	23	2017	2017	NUM
cblr-1695	479	24	through	through	ADP
cblr-1695	479	25	july	july	PROPN
cblr-1695	479	26	9	9	NUM
cblr-1695	479	27	,	,	PUNCT
cblr-1695	479	28	2017.154	2017.154	NUM
cblr-1695	479	29	similarly	similarly	ADV
cblr-1695	479	30	,	,	PUNCT
cblr-1695	479	31	there	there	PRON
cblr-1695	479	32	were	be	VERB
cblr-1695	479	33	no	no	DET
cblr-1695	479	34	2018	2018	NUM
cblr-1695	479	35	ipos	ipos	NOUN
cblr-1695	479	36	from	from	ADP
cblr-1695	479	37	july	july	PROPN
cblr-1695	479	38	1	1	NUM
cblr-1695	479	39	,	,	PUNCT
cblr-1695	479	40	2018	2018	NUM
cblr-1695	479	41	through	through	ADP
cblr-1695	479	42	july	july	PROPN
cblr-1695	479	43	9	9	NUM
cblr-1695	479	44	,	,	PUNCT
cblr-1695	479	45	2018	2018	NUM
cblr-1695	479	46	.	.	PUNCT
cblr-1695	480	1	therefore	therefore	ADV
cblr-1695	480	2	,	,	PUNCT
cblr-1695	480	3	for	for	ADP
cblr-1695	480	4	simplicity	simplicity	NOUN
cblr-1695	480	5	’s	’s	PART
cblr-1695	480	6	sake	sake	NOUN
cblr-1695	480	7	,	,	PUNCT
cblr-1695	480	8	the	the	DET
cblr-1695	480	9	“	"	PUNCT
cblr-1695	480	10	pre	pre	ADJ
cblr-1695	480	11	-	-	ADJ
cblr-1695	480	12	change	change	ADJ
cblr-1695	480	13	”	"	PUNCT
cblr-1695	480	14	period	period	NOUN
cblr-1695	480	15	includes	include	VERB
cblr-1695	480	16	q1	q1	PROPN
cblr-1695	480	17	2015	2015	NUM
cblr-1695	480	18	–	–	PUNCT
cblr-1695	480	19	q2	q2	NOUN
cblr-1695	480	20	2017	2017	NUM
cblr-1695	480	21	.	.	PUNCT
cblr-1695	481	1	the	the	DET
cblr-1695	481	2	“	"	PUNCT
cblr-1695	481	3	postchange	postchange	NOUN
cblr-1695	481	4	”	"	PUNCT
cblr-1695	481	5	period	period	NOUN
cblr-1695	481	6	includes	include	VERB
cblr-1695	481	7	q3	q3	PROPN
cblr-1695	481	8	2017	2017	NUM
cblr-1695	481	9	–	–	PUNCT
cblr-1695	481	10	q2	q2	NOUN
cblr-1695	481	11	2018	2018	NUM
cblr-1695	481	12	even	even	ADV
cblr-1695	481	13	though	though	SCONJ
cblr-1695	481	14	the	the	DET
cblr-1695	481	15	actual	actual	ADJ
cblr-1695	481	16	one	one	NUM
cblr-1695	481	17	-	-	PUNCT
cblr-1695	481	18	year	year	NOUN
cblr-1695	481	19	“	"	PUNCT
cblr-1695	481	20	post	post	ADJ
cblr-1695	481	21	-	-	ADJ
cblr-1695	481	22	change	change	ADJ
cblr-1695	481	23	”	"	PUNCT
cblr-1695	481	24	period	period	NOUN
cblr-1695	481	25	is	be	AUX
cblr-1695	481	26	july	july	PROPN
cblr-1695	481	27	10	10	NUM
cblr-1695	481	28	,	,	PUNCT
cblr-1695	481	29	2017	2017	NUM
cblr-1695	481	30	–	–	PUNCT
cblr-1695	481	31	july	july	PROPN
cblr-1695	481	32	9	9	NUM
cblr-1695	481	33	,	,	PUNCT
cblr-1695	481	34	2018	2018	NUM
cblr-1695	481	35	.	.	PUNCT
cblr-1695	482	1	153	153	NUM
cblr-1695	482	2	much	much	ADJ
cblr-1695	482	3	of	of	ADP
cblr-1695	482	4	the	the	DET
cblr-1695	482	5	discussion	discussion	NOUN
cblr-1695	482	6	supra	supra	PROPN
cblr-1695	482	7	section	section	PROPN
cblr-1695	482	8	iii.b.2	iii.b.2	PUNCT
cblr-1695	482	9	and	and	CCONJ
cblr-1695	482	10	part	part	NOUN
cblr-1695	482	11	iv	iv	NUM
cblr-1695	482	12	is	be	AUX
cblr-1695	482	13	substantially	substantially	ADV
cblr-1695	482	14	based	base	VERB
cblr-1695	482	15	on	on	ADP
cblr-1695	482	16	the	the	DET
cblr-1695	482	17	data	datum	NOUN
cblr-1695	482	18	set	set	VERB
cblr-1695	482	19	created	create	VERB
cblr-1695	482	20	by	by	ADP
cblr-1695	482	21	the	the	DET
cblr-1695	482	22	author	author	NOUN
cblr-1695	482	23	—	—	PUNCT
cblr-1695	482	24	patrick	patrick	PROPN
cblr-1695	482	25	j.	j.	PROPN
cblr-1695	482	26	gallagher	gallagher	PROPN
cblr-1695	482	27	,	,	PUNCT
cblr-1695	482	28	ipo	ipo	PROPN
cblr-1695	482	29	data	datum	NOUN
cblr-1695	482	30	set	set	VERB
cblr-1695	482	31	(	(	PUNCT
cblr-1695	482	32	on	on	ADP
cblr-1695	482	33	file	file	NOUN
cblr-1695	482	34	with	with	ADP
cblr-1695	482	35	the	the	DET
cblr-1695	482	36	columbia	columbia	PROPN
cblr-1695	482	37	business	business	PROPN
cblr-1695	482	38	law	law	PROPN
cblr-1695	482	39	review	review	PROPN
cblr-1695	482	40	)	)	PUNCT
cblr-1695	482	41	.	.	PUNCT
cblr-1695	483	1	the	the	DET
cblr-1695	483	2	full	full	ADJ
cblr-1695	483	3	data	datum	NOUN
cblr-1695	483	4	set	set	NOUN
cblr-1695	483	5	relies	rely	VERB
cblr-1695	483	6	solely	solely	ADV
cblr-1695	483	7	on	on	ADP
cblr-1695	483	8	publicly	publicly	ADV
cblr-1695	483	9	available	available	ADJ
cblr-1695	483	10	information	information	NOUN
cblr-1695	483	11	and	and	CCONJ
cblr-1695	483	12	is	be	AUX
cblr-1695	483	13	on	on	ADP
cblr-1695	483	14	file	file	NOUN
cblr-1695	483	15	with	with	ADP
cblr-1695	483	16	the	the	DET
cblr-1695	483	17	columbia	columbia	PROPN
cblr-1695	483	18	business	business	PROPN
cblr-1695	483	19	law	law	PROPN
cblr-1695	483	20	review	review	NOUN
cblr-1695	483	21	.	.	PUNCT
cblr-1695	484	1	others	other	NOUN
cblr-1695	484	2	should	should	AUX
cblr-1695	484	3	be	be	AUX
cblr-1695	484	4	able	able	ADJ
cblr-1695	484	5	to	to	PART
cblr-1695	484	6	recreate	recreate	VERB
cblr-1695	484	7	it	it	PRON
cblr-1695	484	8	using	use	VERB
cblr-1695	484	9	the	the	DET
cblr-1695	484	10	methodology	methodology	NOUN
cblr-1695	484	11	detailed	detail	VERB
cblr-1695	484	12	in	in	ADP
cblr-1695	484	13	section	section	NOUN
cblr-1695	484	14	iii.b.1	iii.b.1	PROPN
cblr-1695	484	15	.	.	PUNCT
cblr-1695	485	1	in	in	ADP
cblr-1695	485	2	an	an	DET
cblr-1695	485	3	effort	effort	NOUN
cblr-1695	485	4	to	to	PART
cblr-1695	485	5	ensure	ensure	VERB
cblr-1695	485	6	readability	readability	NOUN
cblr-1695	485	7	and	and	CCONJ
cblr-1695	485	8	avoid	avoid	VERB
cblr-1695	485	9	excessive	excessive	ADJ
cblr-1695	485	10	use	use	NOUN
cblr-1695	485	11	of	of	ADP
cblr-1695	485	12	citations	citation	NOUN
cblr-1695	485	13	,	,	PUNCT
cblr-1695	485	14	the	the	DET
cblr-1695	485	15	columbia	columbia	PROPN
cblr-1695	485	16	business	business	PROPN
cblr-1695	485	17	law	law	PROPN
cblr-1695	485	18	review	review	NOUN
cblr-1695	485	19	has	have	AUX
cblr-1695	485	20	opted	opt	VERB
cblr-1695	485	21	not	not	PART
cblr-1695	485	22	to	to	PART
cblr-1695	485	23	cite	cite	VERB
cblr-1695	485	24	to	to	ADP
cblr-1695	485	25	the	the	DET
cblr-1695	485	26	data	datum	NOUN
cblr-1695	485	27	set	set	VERB
cblr-1695	485	28	each	each	DET
cblr-1695	485	29	time	time	NOUN
cblr-1695	485	30	the	the	DET
cblr-1695	485	31	author	author	NOUN
cblr-1695	485	32	refers	refer	VERB
cblr-1695	485	33	to	to	ADP
cblr-1695	485	34	it	it	PRON
cblr-1695	485	35	,	,	PUNCT
cblr-1695	485	36	but	but	CCONJ
cblr-1695	485	37	only	only	ADV
cblr-1695	485	38	when	when	SCONJ
cblr-1695	485	39	particularly	particularly	ADV
cblr-1695	485	40	relevant	relevant	ADJ
cblr-1695	485	41	.	.	PUNCT
cblr-1695	486	1	154	154	NUM
cblr-1695	486	2	the	the	DET
cblr-1695	486	3	first	first	ADJ
cblr-1695	486	4	q3	q3	PROPN
cblr-1695	486	5	2017	2017	NUM
cblr-1695	486	6	ipo	ipo	PROPN
cblr-1695	486	7	occurred	occur	VERB
cblr-1695	486	8	on	on	ADP
cblr-1695	486	9	july	july	PROPN
cblr-1695	486	10	12	12	NUM
cblr-1695	486	11	,	,	PUNCT
cblr-1695	486	12	2017	2017	NUM
cblr-1695	486	13	,	,	PUNCT
cblr-1695	486	14	after	after	SCONJ
cblr-1695	486	15	the	the	DET
cblr-1695	486	16	july	july	PROPN
cblr-1695	486	17	2017	2017	NUM
cblr-1695	486	18	change	change	NOUN
cblr-1695	486	19	took	take	VERB
cblr-1695	486	20	effect	effect	NOUN
cblr-1695	486	21	.	.	PUNCT
cblr-1695	487	1	see	see	VERB
cblr-1695	487	2	patrick	patrick	PROPN
cblr-1695	487	3	j.	j.	PROPN
cblr-1695	487	4	gallagher	gallagher	PROPN
cblr-1695	487	5	,	,	PUNCT
cblr-1695	487	6	ipo	ipo	PROPN
cblr-1695	487	7	data	datum	NOUN
cblr-1695	487	8	set	set	VERB
cblr-1695	487	9	(	(	PUNCT
cblr-1695	487	10	on	on	ADP
cblr-1695	487	11	file	file	NOUN
cblr-1695	487	12	with	with	ADP
cblr-1695	487	13	the	the	DET
cblr-1695	487	14	columbia	columbia	PROPN
cblr-1695	487	15	business	business	PROPN
cblr-1695	487	16	law	law	PROPN
cblr-1695	487	17	review	review	PROPN
cblr-1695	487	18	)	)	PUNCT
cblr-1695	487	19	.	.	PUNCT
cblr-1695	488	1	336	336	NUM
cblr-1695	488	2	columbia	columbia	PROPN
cblr-1695	488	3	business	business	NOUN
cblr-1695	488	4	law	law	PROPN
cblr-1695	488	5	review	review	NOUN
cblr-1695	488	6	[	[	X
cblr-1695	488	7	vol	vol	NOUN
cblr-1695	488	8	.	.	NOUN
cblr-1695	488	9	2019	2019	NUM
cblr-1695	488	10	the	the	DET
cblr-1695	488	11	study	study	NOUN
cblr-1695	488	12	revealed	reveal	VERB
cblr-1695	488	13	a	a	DET
cblr-1695	488	14	high	high	NOUN
cblr-1695	488	15	of	of	ADP
cblr-1695	488	16	115	115	NUM
cblr-1695	488	17	ipos	ipos	NOUN
cblr-1695	488	18	in	in	ADP
cblr-1695	488	19	2015	2015	NUM
cblr-1695	488	20	,	,	PUNCT
cblr-1695	488	21	a	a	DET
cblr-1695	488	22	dip	dip	NOUN
cblr-1695	488	23	to	to	ADP
cblr-1695	488	24	just	just	ADV
cblr-1695	488	25	seventy	seventy	NUM
cblr-1695	488	26	-	-	PUNCT
cblr-1695	488	27	three	three	NUM
cblr-1695	488	28	ipos	ipos	NOUN
cblr-1695	488	29	in	in	ADP
cblr-1695	488	30	2016	2016	NUM
cblr-1695	488	31	,	,	PUNCT
cblr-1695	488	32	and	and	CCONJ
cblr-1695	488	33	a	a	DET
cblr-1695	488	34	slight	slight	ADJ
cblr-1695	488	35	boost	boost	NOUN
cblr-1695	488	36	to	to	ADP
cblr-1695	488	37	101	101	NUM
cblr-1695	488	38	ipos	ipos	NOUN
cblr-1695	488	39	in	in	ADP
cblr-1695	488	40	2017	2017	NUM
cblr-1695	488	41	.	.	PUNCT
cblr-1695	489	1	the	the	DET
cblr-1695	489	2	first	first	ADJ
cblr-1695	489	3	half	half	NOUN
cblr-1695	489	4	of	of	ADP
cblr-1695	489	5	2018	2018	NUM
cblr-1695	489	6	was	be	AUX
cblr-1695	489	7	strong	strong	ADJ
cblr-1695	489	8	,	,	PUNCT
cblr-1695	489	9	with	with	ADP
cblr-1695	489	10	75	75	NUM
cblr-1695	489	11	ipos	ipos	NOUN
cblr-1695	489	12	.	.	PUNCT
cblr-1695	490	1	table	table	NOUN
cblr-1695	490	2	1	1	NUM
cblr-1695	490	3	summarizes	summarize	NOUN
cblr-1695	490	4	these	these	DET
cblr-1695	490	5	results	result	NOUN
cblr-1695	490	6	.	.	PUNCT
cblr-1695	491	1	table	table	NOUN
cblr-1695	491	2	1	1	NUM
cblr-1695	491	3	:	:	PUNCT
cblr-1695	491	4	egc	egc	PROPN
cblr-1695	491	5	,	,	PUNCT
cblr-1695	491	6	non	non	ADJ
cblr-1695	491	7	-	-	ADJ
cblr-1695	491	8	egc	egc	ADJ
cblr-1695	491	9	,	,	PUNCT
cblr-1695	491	10	and	and	CCONJ
cblr-1695	491	11	total	total	ADJ
cblr-1695	491	12	ipos	ipos	NOUN
cblr-1695	491	13	(	(	PUNCT
cblr-1695	491	14	q1	q1	PROPN
cblr-1695	491	15	2015	2015	NUM
cblr-1695	491	16	–	–	PUNCT
cblr-1695	491	17	q2	q2	NOUN
cblr-1695	491	18	2018)155	2018)155	PROPN
cblr-1695	492	1	the	the	DET
cblr-1695	492	2	true	true	ADJ
cblr-1695	492	3	question	question	NOUN
cblr-1695	492	4	to	to	PART
cblr-1695	492	5	answer	answer	VERB
cblr-1695	492	6	,	,	PUNCT
cblr-1695	492	7	however	however	ADV
cblr-1695	492	8	,	,	PUNCT
cblr-1695	492	9	is	be	AUX
cblr-1695	492	10	whether	whether	SCONJ
cblr-1695	492	11	the	the	DET
cblr-1695	492	12	july	july	PROPN
cblr-1695	492	13	2017	2017	NUM
cblr-1695	492	14	change	change	NOUN
cblr-1695	492	15	affected	affect	VERB
cblr-1695	492	16	ipo	ipo	NOUN
cblr-1695	492	17	activity	activity	NOUN
cblr-1695	492	18	in	in	ADP
cblr-1695	492	19	any	any	DET
cblr-1695	492	20	way	way	NOUN
cblr-1695	492	21	.	.	PUNCT
cblr-1695	493	1	the	the	DET
cblr-1695	493	2	july	july	PROPN
cblr-1695	493	3	2017	2017	NUM
cblr-1695	493	4	change	change	NOUN
cblr-1695	493	5	only	only	ADV
cblr-1695	493	6	affected	affect	VERB
cblr-1695	493	7	non	non	ADJ
cblr-1695	493	8	-	-	ADJ
cblr-1695	493	9	egcs	egcs	ADJ
cblr-1695	493	10	,	,	PUNCT
cblr-1695	493	11	since	since	SCONJ
cblr-1695	493	12	egcs	egcs	PROPN
cblr-1695	493	13	were	be	AUX
cblr-1695	493	14	already	already	ADV
cblr-1695	493	15	afforded	afford	VERB
cblr-1695	493	16	the	the	DET
cblr-1695	493	17	confidential	confidential	ADJ
cblr-1695	493	18	drs	drs	ADJ
cblr-1695	493	19	process	process	NOUN
cblr-1695	493	20	under	under	ADP
cblr-1695	493	21	the	the	DET
cblr-1695	493	22	jobs	job	NOUN
cblr-1695	493	23	act	act	PROPN
cblr-1695	493	24	.	.	PUNCT
cblr-1695	494	1	therefore	therefore	ADV
cblr-1695	494	2	,	,	PUNCT
cblr-1695	494	3	an	an	DET
cblr-1695	494	4	increase	increase	NOUN
cblr-1695	494	5	in	in	ADP
cblr-1695	494	6	non	non	ADJ
cblr-1695	494	7	-	-	ADJ
cblr-1695	494	8	egc	egc	ADJ
cblr-1695	494	9	ipos	ipos	NOUN
cblr-1695	494	10	following	follow	VERB
cblr-1695	494	11	the	the	DET
cblr-1695	494	12	enactment	enactment	NOUN
cblr-1695	494	13	of	of	ADP
cblr-1695	494	14	the	the	DET
cblr-1695	494	15	change	change	NOUN
cblr-1695	494	16	would	would	AUX
cblr-1695	494	17	provide	provide	VERB
cblr-1695	494	18	evidence	evidence	NOUN
cblr-1695	494	19	that	that	SCONJ
cblr-1695	494	20	the	the	DET
cblr-1695	494	21	july	july	PROPN
cblr-1695	494	22	2017	2017	NUM
cblr-1695	494	23	change	change	NOUN
cblr-1695	494	24	possibly	possibly	ADV
cblr-1695	494	25	affected	affect	VERB
cblr-1695	494	26	ipo	ipo	NOUN
cblr-1695	494	27	activity	activity	NOUN
cblr-1695	494	28	.	.	PUNCT
cblr-1695	495	1	whether	whether	SCONJ
cblr-1695	495	2	such	such	DET
cblr-1695	495	3	an	an	DET
cblr-1695	495	4	increase	increase	NOUN
cblr-1695	495	5	occurred	occur	VERB
cblr-1695	495	6	can	can	AUX
cblr-1695	495	7	be	be	AUX
cblr-1695	495	8	evaluated	evaluate	VERB
cblr-1695	495	9	in	in	ADP
cblr-1695	495	10	two	two	NUM
cblr-1695	495	11	ways	way	NOUN
cblr-1695	495	12	:	:	PUNCT
cblr-1695	495	13	first	first	ADV
cblr-1695	495	14	,	,	PUNCT
cblr-1695	495	15	by	by	ADP
cblr-1695	495	16	analyzing	analyze	VERB
cblr-1695	495	17	the	the	DET
cblr-1695	495	18	number	number	NOUN
cblr-1695	495	19	of	of	ADP
cblr-1695	495	20	non	non	ADJ
cblr-1695	495	21	-	-	ADJ
cblr-1695	495	22	egc	egc	ADJ
cblr-1695	495	23	ipos	ipos	NOUN
cblr-1695	495	24	(	(	PUNCT
cblr-1695	495	25	the	the	DET
cblr-1695	495	26	volume	volume	NOUN
cblr-1695	495	27	method	method	NOUN
cblr-1695	495	28	)	)	PUNCT
cblr-1695	495	29	,	,	PUNCT
cblr-1695	495	30	and	and	CCONJ
cblr-1695	495	31	second	second	ADJ
cblr-1695	495	32	,	,	PUNCT
cblr-1695	495	33	by	by	ADP
cblr-1695	495	34	analyzing	analyze	VERB
cblr-1695	495	35	the	the	DET
cblr-1695	495	36	proportion	proportion	NOUN
cblr-1695	495	37	of	of	ADP
cblr-1695	495	38	overall	overall	ADJ
cblr-1695	495	39	ipos	ipos	NOUN
cblr-1695	495	40	that	that	PRON
cblr-1695	495	41	come	come	VERB
cblr-1695	495	42	from	from	ADP
cblr-1695	495	43	non	non	ADJ
cblr-1695	495	44	-	-	ADJ
cblr-1695	495	45	egcs	egcs	ADJ
cblr-1695	495	46	(	(	PUNCT
cblr-1695	495	47	the	the	DET
cblr-1695	495	48	proportion	proportion	NOUN
cblr-1695	495	49	method	method	NOUN
cblr-1695	495	50	)	)	PUNCT
cblr-1695	495	51	.	.	PUNCT
cblr-1695	496	1	these	these	DET
cblr-1695	496	2	two	two	NUM
cblr-1695	496	3	methods	method	NOUN
cblr-1695	496	4	of	of	ADP
cblr-1695	496	5	analysis	analysis	NOUN
cblr-1695	496	6	are	be	AUX
cblr-1695	496	7	established	establish	VERB
cblr-1695	496	8	practices	practice	NOUN
cblr-1695	496	9	in	in	ADP
cblr-1695	496	10	the	the	DET
cblr-1695	496	11	literature.156	literature.156	PROPN
cblr-1695	496	12	155	155	NUM
cblr-1695	496	13	this	this	DET
cblr-1695	496	14	table	table	NOUN
cblr-1695	496	15	summarizes	summarize	NOUN
cblr-1695	496	16	information	information	NOUN
cblr-1695	496	17	included	include	VERB
cblr-1695	496	18	in	in	ADP
cblr-1695	496	19	the	the	DET
cblr-1695	496	20	data	datum	NOUN
cblr-1695	496	21	set	set	VERB
cblr-1695	496	22	created	create	VERB
cblr-1695	496	23	by	by	ADP
cblr-1695	496	24	the	the	DET
cblr-1695	496	25	author	author	NOUN
cblr-1695	496	26	.	.	PUNCT
cblr-1695	497	1	see	see	VERB
cblr-1695	497	2	patrick	patrick	PROPN
cblr-1695	497	3	j.	j.	PROPN
cblr-1695	497	4	gallagher	gallagher	PROPN
cblr-1695	497	5	,	,	PUNCT
cblr-1695	497	6	ipo	ipo	PROPN
cblr-1695	497	7	data	datum	NOUN
cblr-1695	497	8	set	set	VERB
cblr-1695	497	9	(	(	PUNCT
cblr-1695	497	10	on	on	ADP
cblr-1695	497	11	file	file	NOUN
cblr-1695	497	12	with	with	ADP
cblr-1695	497	13	the	the	DET
cblr-1695	497	14	columbia	columbia	PROPN
cblr-1695	497	15	business	business	PROPN
cblr-1695	497	16	law	law	PROPN
cblr-1695	497	17	review	review	PROPN
cblr-1695	497	18	)	)	PUNCT
cblr-1695	497	19	.	.	PUNCT
cblr-1695	498	1	156	156	NUM
cblr-1695	498	2	see	see	VERB
cblr-1695	498	3	,	,	PUNCT
cblr-1695	498	4	e.g.	e.g.	ADV
cblr-1695	498	5	,	,	PUNCT
cblr-1695	498	6	berdejó	berdejó	NOUN
cblr-1695	498	7	,	,	PUNCT
cblr-1695	498	8	supra	supra	PROPN
cblr-1695	498	9	note	note	NOUN
cblr-1695	498	10	121	121	NUM
cblr-1695	498	11	,	,	PUNCT
cblr-1695	498	12	at	at	ADP
cblr-1695	498	13	33–37	33–37	NUM
cblr-1695	498	14	.	.	PUNCT
cblr-1695	499	1	no	no	INTJ
cblr-1695	499	2	.	.	PUNCT
cblr-1695	500	1	1:305	1:305	NUM
cblr-1695	500	2	]	]	X
cblr-1695	500	3	going	go	VERB
cblr-1695	500	4	public	public	ADJ
cblr-1695	500	5	secretly	secretly	ADV
cblr-1695	500	6	337	337	NUM
cblr-1695	500	7	the	the	DET
cblr-1695	500	8	volume	volume	NOUN
cblr-1695	500	9	method	method	NOUN
cblr-1695	500	10	rests	rest	VERB
cblr-1695	500	11	on	on	ADP
cblr-1695	500	12	the	the	DET
cblr-1695	500	13	presumption	presumption	NOUN
cblr-1695	500	14	that	that	SCONJ
cblr-1695	500	15	if	if	SCONJ
cblr-1695	500	16	the	the	DET
cblr-1695	500	17	july	july	PROPN
cblr-1695	500	18	2017	2017	NUM
cblr-1695	500	19	change	change	NOUN
cblr-1695	500	20	succeeds	succeed	VERB
cblr-1695	500	21	in	in	ADP
cblr-1695	500	22	expanding	expand	VERB
cblr-1695	500	23	access	access	NOUN
cblr-1695	500	24	to	to	ADP
cblr-1695	500	25	the	the	DET
cblr-1695	500	26	capital	capital	NOUN
cblr-1695	500	27	markets	market	NOUN
cblr-1695	500	28	,	,	PUNCT
cblr-1695	500	29	there	there	PRON
cblr-1695	500	30	will	will	AUX
cblr-1695	500	31	be	be	AUX
cblr-1695	500	32	an	an	DET
cblr-1695	500	33	increase	increase	NOUN
cblr-1695	500	34	in	in	ADP
cblr-1695	500	35	ipos	ipos	NOUN
cblr-1695	500	36	from	from	ADP
cblr-1695	500	37	non	non	ADJ
cblr-1695	500	38	-	-	ADJ
cblr-1695	500	39	egcs	egcs	ADJ
cblr-1695	500	40	.	.	PUNCT
cblr-1695	501	1	at	at	ADP
cblr-1695	501	2	first	first	ADJ
cblr-1695	501	3	glance	glance	NOUN
cblr-1695	501	4	,	,	PUNCT
cblr-1695	501	5	the	the	DET
cblr-1695	501	6	data	datum	NOUN
cblr-1695	501	7	suggest	suggest	VERB
cblr-1695	501	8	that	that	SCONJ
cblr-1695	501	9	this	this	PRON
cblr-1695	501	10	may	may	AUX
cblr-1695	501	11	have	have	AUX
cblr-1695	501	12	occurred	occur	VERB
cblr-1695	501	13	.	.	PUNCT
cblr-1695	502	1	as	as	SCONJ
cblr-1695	502	2	table	table	NOUN
cblr-1695	502	3	1	1	NUM
cblr-1695	502	4	demonstrates	demonstrate	NOUN
cblr-1695	502	5	,	,	PUNCT
cblr-1695	502	6	the	the	DET
cblr-1695	502	7	year	year	NOUN
cblr-1695	502	8	2017	2017	NUM
cblr-1695	502	9	in	in	ADP
cblr-1695	502	10	total	total	NOUN
cblr-1695	502	11	saw	see	VERB
cblr-1695	502	12	more	more	ADV
cblr-1695	502	13	nonegc	nonegc	ADJ
cblr-1695	502	14	ipos	ipos	NOUN
cblr-1695	502	15	than	than	ADP
cblr-1695	502	16	the	the	DET
cblr-1695	502	17	previous	previous	ADJ
cblr-1695	502	18	two	two	NUM
cblr-1695	502	19	years	year	NOUN
cblr-1695	502	20	—	—	PUNCT
cblr-1695	502	21	there	there	PRON
cblr-1695	502	22	were	be	VERB
cblr-1695	502	23	eleven157	eleven157	PROPN
cblr-1695	502	24	non	non	ADJ
cblr-1695	502	25	-	-	ADJ
cblr-1695	502	26	egc	egc	ADJ
cblr-1695	502	27	ipos	ipos	NOUN
cblr-1695	502	28	in	in	ADP
cblr-1695	502	29	2017	2017	NUM
cblr-1695	502	30	,	,	PUNCT
cblr-1695	502	31	whereas	whereas	SCONJ
cblr-1695	502	32	there	there	PRON
cblr-1695	502	33	were	be	VERB
cblr-1695	502	34	only	only	ADV
cblr-1695	502	35	nine	nine	NUM
cblr-1695	502	36	and	and	CCONJ
cblr-1695	502	37	eight	eight	NUM
cblr-1695	502	38	non	non	ADJ
cblr-1695	502	39	-	-	ADJ
cblr-1695	502	40	egc	egc	ADJ
cblr-1695	502	41	ipos	ipos	NOUN
cblr-1695	502	42	in	in	ADP
cblr-1695	502	43	2016	2016	NUM
cblr-1695	502	44	and	and	CCONJ
cblr-1695	502	45	2015	2015	NUM
cblr-1695	502	46	,	,	PUNCT
cblr-1695	502	47	respectively	respectively	ADV
cblr-1695	502	48	.	.	PUNCT
cblr-1695	503	1	however	however	ADV
cblr-1695	503	2	,	,	PUNCT
cblr-1695	503	3	a	a	DET
cblr-1695	503	4	closer	close	ADJ
cblr-1695	503	5	look	look	NOUN
cblr-1695	503	6	reveals	reveal	VERB
cblr-1695	503	7	that	that	SCONJ
cblr-1695	503	8	the	the	DET
cblr-1695	503	9	majority	majority	NOUN
cblr-1695	503	10	of	of	ADP
cblr-1695	503	11	2017	2017	NUM
cblr-1695	503	12	non	non	ADJ
cblr-1695	503	13	-	-	ADJ
cblr-1695	503	14	egc	egc	ADJ
cblr-1695	503	15	ipos	ipos	NOUN
cblr-1695	503	16	came	come	VERB
cblr-1695	503	17	in	in	ADP
cblr-1695	503	18	q1	q1	PROPN
cblr-1695	503	19	and	and	CCONJ
cblr-1695	503	20	q2	q2	NOUN
cblr-1695	503	21	—	—	PUNCT
cblr-1695	503	22	both	both	PRON
cblr-1695	503	23	of	of	ADP
cblr-1695	503	24	which	which	PRON
cblr-1695	503	25	saw	see	VERB
cblr-1695	503	26	four	four	NUM
cblr-1695	503	27	non	non	ADJ
cblr-1695	503	28	-	-	ADJ
cblr-1695	503	29	egc	egc	ADJ
cblr-1695	503	30	ipos	ipos	NOUN
cblr-1695	503	31	.	.	PUNCT
cblr-1695	504	1	therefore	therefore	ADV
cblr-1695	504	2	,	,	PUNCT
cblr-1695	504	3	these	these	DET
cblr-1695	504	4	offerings	offering	NOUN
cblr-1695	504	5	came	come	VERB
cblr-1695	504	6	before	before	SCONJ
cblr-1695	504	7	the	the	DET
cblr-1695	504	8	july	july	PROPN
cblr-1695	504	9	2017	2017	NUM
cblr-1695	504	10	change	change	NOUN
cblr-1695	504	11	was	be	AUX
cblr-1695	504	12	announced	announce	VERB
cblr-1695	504	13	or	or	CCONJ
cblr-1695	504	14	enacted	enact	VERB
cblr-1695	504	15	.	.	PUNCT
cblr-1695	505	1	there	there	PRON
cblr-1695	505	2	have	have	AUX
cblr-1695	505	3	been	be	AUX
cblr-1695	505	4	nine	nine	NUM
cblr-1695	505	5	non	non	ADJ
cblr-1695	505	6	-	-	ADJ
cblr-1695	505	7	egc	egc	ADJ
cblr-1695	505	8	ipos	ipos	NOUN
cblr-1695	505	9	following	follow	VERB
cblr-1695	505	10	the	the	DET
cblr-1695	505	11	july	july	PROPN
cblr-1695	505	12	2017	2017	NUM
cblr-1695	505	13	change	change	NOUN
cblr-1695	505	14	(	(	PUNCT
cblr-1695	505	15	i.e.	i.e.	X
cblr-1695	505	16	,	,	PUNCT
cblr-1695	505	17	from	from	ADP
cblr-1695	505	18	q3	q3	PROPN
cblr-1695	505	19	2017	2017	NUM
cblr-1695	505	20	through	through	ADP
cblr-1695	505	21	q2	q2	NOUN
cblr-1695	505	22	2018	2018	NUM
cblr-1695	505	23	)	)	PUNCT
cblr-1695	505	24	,	,	PUNCT
cblr-1695	505	25	but	but	CCONJ
cblr-1695	505	26	only	only	ADV
cblr-1695	505	27	those	those	DET
cblr-1695	505	28	ipos	ipos	NOUN
cblr-1695	505	29	in	in	ADP
cblr-1695	505	30	q4	q4	PROPN
cblr-1695	505	31	2017	2017	NUM
cblr-1695	505	32	or	or	CCONJ
cblr-1695	505	33	later	later	ADV
cblr-1695	505	34	could	could	AUX
cblr-1695	505	35	have	have	AUX
cblr-1695	505	36	been	be	AUX
cblr-1695	505	37	motivated	motivate	VERB
cblr-1695	505	38	by	by	ADP
cblr-1695	505	39	the	the	DET
cblr-1695	505	40	change.158	change.158	NOUN
cblr-1695	505	41	this	this	PRON
cblr-1695	505	42	suggests	suggest	VERB
cblr-1695	505	43	that	that	SCONJ
cblr-1695	505	44	the	the	DET
cblr-1695	505	45	new	new	ADJ
cblr-1695	505	46	sec	sec	PROPN
cblr-1695	505	47	policy	policy	NOUN
cblr-1695	505	48	has	have	VERB
cblr-1695	505	49	not	not	PART
cblr-1695	505	50	157	157	NUM
cblr-1695	505	51	it	it	PRON
cblr-1695	505	52	appears	appear	VERB
cblr-1695	505	53	that	that	SCONJ
cblr-1695	505	54	two	two	NUM
cblr-1695	505	55	of	of	ADP
cblr-1695	505	56	these	these	DET
cblr-1695	505	57	companies	company	NOUN
cblr-1695	505	58	filed	file	VERB
cblr-1695	505	59	as	as	ADP
cblr-1695	505	60	non	non	ADJ
cblr-1695	505	61	-	-	ADJ
cblr-1695	505	62	egcs	egcs	ADJ
cblr-1695	505	63	but	but	CCONJ
cblr-1695	505	64	may	may	AUX
cblr-1695	505	65	have	have	AUX
cblr-1695	505	66	been	be	AUX
cblr-1695	505	67	able	able	ADJ
cblr-1695	505	68	to	to	PART
cblr-1695	505	69	file	file	VERB
cblr-1695	505	70	as	as	ADP
cblr-1695	505	71	egcs	egcs	NOUN
cblr-1695	505	72	due	due	ADP
cblr-1695	505	73	to	to	ADP
cblr-1695	505	74	the	the	DET
cblr-1695	505	75	new	new	ADJ
cblr-1695	505	76	inflation	inflation	NOUN
cblr-1695	505	77	-	-	PUNCT
cblr-1695	505	78	adjusted	adjust	VERB
cblr-1695	505	79	definition	definition	NOUN
cblr-1695	505	80	of	of	ADP
cblr-1695	505	81	egc	egc	PROPN
cblr-1695	505	82	announced	announce	VERB
cblr-1695	505	83	in	in	ADP
cblr-1695	505	84	april	april	PROPN
cblr-1695	505	85	2017	2017	NUM
cblr-1695	505	86	.	.	PUNCT
cblr-1695	506	1	see	see	VERB
cblr-1695	506	2	supra	supra	PROPN
cblr-1695	506	3	notes	note	NOUN
cblr-1695	506	4	76–78	76–78	NUM
cblr-1695	506	5	and	and	CCONJ
cblr-1695	506	6	accompanying	accompany	VERB
cblr-1695	506	7	text	text	NOUN
cblr-1695	506	8	.	.	PUNCT
cblr-1695	507	1	floor	floor	PROPN
cblr-1695	507	2	&	&	CCONJ
cblr-1695	507	3	decor	decor	PROPN
cblr-1695	507	4	holdings	holdings	PROPN
cblr-1695	507	5	,	,	PUNCT
cblr-1695	507	6	inc	inc	PROPN
cblr-1695	507	7	.	.	PROPN
cblr-1695	507	8	’s	’s	PART
cblr-1695	508	1	(	(	PUNCT
cblr-1695	508	2	nyse	nyse	NOUN
cblr-1695	508	3	ticker	ticker	PROPN
cblr-1695	508	4	symbol	symbol	NOUN
cblr-1695	508	5	:	:	PUNCT
cblr-1695	508	6	fnd	fnd	PROPN
cblr-1695	508	7	)	)	PUNCT
cblr-1695	508	8	final	final	ADJ
cblr-1695	508	9	amended	amend	VERB
cblr-1695	508	10	form	form	NOUN
cblr-1695	508	11	s-1	s-1	NOUN
cblr-1695	508	12	reports	report	VERB
cblr-1695	508	13	$	$	SYM
cblr-1695	508	14	1,050,759,000	1,050,759,000	NUM
cblr-1695	508	15	in	in	ADP
cblr-1695	508	16	revenue	revenue	NOUN
cblr-1695	508	17	for	for	ADP
cblr-1695	508	18	fiscal	fiscal	ADJ
cblr-1695	508	19	year	year	NOUN
cblr-1695	508	20	2016	2016	NUM
cblr-1695	508	21	,	,	PUNCT
cblr-1695	508	22	which	which	PRON
cblr-1695	508	23	is	be	AUX
cblr-1695	508	24	under	under	ADP
cblr-1695	508	25	the	the	DET
cblr-1695	508	26	$	$	SYM
cblr-1695	508	27	1.07	1.07	NUM
cblr-1695	508	28	billion	billion	NUM
cblr-1695	508	29	maximum	maximum	ADJ
cblr-1695	508	30	fiscal	fiscal	ADJ
cblr-1695	508	31	revenue	revenue	NOUN
cblr-1695	508	32	required	require	VERB
cblr-1695	508	33	for	for	ADP
cblr-1695	508	34	egc	egc	ADJ
cblr-1695	508	35	status	status	NOUN
cblr-1695	508	36	.	.	PUNCT
cblr-1695	509	1	floor	floor	PROPN
cblr-1695	509	2	&	&	CCONJ
cblr-1695	509	3	decor	decor	PROPN
cblr-1695	509	4	holdings	holdings	PROPN
cblr-1695	509	5	,	,	PUNCT
cblr-1695	509	6	inc	inc	PROPN
cblr-1695	509	7	.	.	PROPN
cblr-1695	509	8	,	,	PUNCT
cblr-1695	509	9	registration	registration	NOUN
cblr-1695	509	10	statement	statement	NOUN
cblr-1695	509	11	(	(	PUNCT
cblr-1695	509	12	form	form	NOUN
cblr-1695	509	13	s-1	s-1	PROPN
cblr-1695	509	14	/	/	SYM
cblr-1695	509	15	a	a	NOUN
cblr-1695	509	16	)	)	PUNCT
cblr-1695	509	17	54	54	NUM
cblr-1695	509	18	(	(	PUNCT
cblr-1695	509	19	apr	apr	PROPN
cblr-1695	509	20	.	.	PROPN
cblr-1695	509	21	24	24	NUM
cblr-1695	509	22	,	,	PUNCT
cblr-1695	509	23	2017	2017	NUM
cblr-1695	509	24	)	)	PUNCT
cblr-1695	509	25	.	.	PUNCT
cblr-1695	510	1	however	however	ADV
cblr-1695	510	2	,	,	PUNCT
cblr-1695	510	3	floor	floor	NOUN
cblr-1695	510	4	&	&	CCONJ
cblr-1695	510	5	decor	decor	PROPN
cblr-1695	510	6	likely	likely	ADV
cblr-1695	510	7	did	do	AUX
cblr-1695	510	8	not	not	PART
cblr-1695	510	9	avail	avail	VERB
cblr-1695	510	10	itself	itself	PRON
cblr-1695	510	11	of	of	ADP
cblr-1695	510	12	egc	egc	ADJ
cblr-1695	510	13	status	status	NOUN
cblr-1695	510	14	because	because	SCONJ
cblr-1695	510	15	its	its	PRON
cblr-1695	510	16	original	original	ADJ
cblr-1695	510	17	form	form	NOUN
cblr-1695	510	18	s-1	s-1	NOUN
cblr-1695	510	19	was	be	AUX
cblr-1695	510	20	filed	file	VERB
cblr-1695	510	21	in	in	ADP
cblr-1695	510	22	february	february	PROPN
cblr-1695	510	23	2017	2017	NUM
cblr-1695	510	24	,	,	PUNCT
cblr-1695	510	25	prior	prior	ADV
cblr-1695	510	26	to	to	ADP
cblr-1695	510	27	the	the	DET
cblr-1695	510	28	egc	egc	ADJ
cblr-1695	510	29	definition	definition	NOUN
cblr-1695	510	30	change	change	NOUN
cblr-1695	510	31	.	.	PUNCT
cblr-1695	511	1	see	see	VERB
cblr-1695	511	2	fdo	fdo	NOUN
cblr-1695	511	3	holdings	holding	NOUN
cblr-1695	511	4	,	,	PUNCT
cblr-1695	511	5	inc	inc	PROPN
cblr-1695	511	6	.	.	PROPN
cblr-1695	511	7	,	,	PUNCT
cblr-1695	511	8	registration	registration	NOUN
cblr-1695	511	9	statement	statement	NOUN
cblr-1695	511	10	(	(	PUNCT
cblr-1695	511	11	form	form	NOUN
cblr-1695	511	12	s-1	s-1	NOUN
cblr-1695	511	13	)	)	PUNCT
cblr-1695	511	14	(	(	PUNCT
cblr-1695	511	15	feb	feb	PROPN
cblr-1695	511	16	.	.	PROPN
cblr-1695	511	17	10	10	NUM
cblr-1695	511	18	,	,	PUNCT
cblr-1695	511	19	2017	2017	NUM
cblr-1695	511	20	)	)	PUNCT
cblr-1695	511	21	.	.	PUNCT
cblr-1695	512	1	similarly	similarly	ADV
cblr-1695	512	2	,	,	PUNCT
cblr-1695	512	3	pq	pq	PROPN
cblr-1695	512	4	group	group	PROPN
cblr-1695	512	5	holdings	holdings	PROPN
cblr-1695	512	6	inc	inc	PROPN
cblr-1695	512	7	’s	’s	PROPN
cblr-1695	512	8	.	.	PUNCT
cblr-1695	513	1	(	(	PUNCT
cblr-1695	513	2	nyse	nyse	PROPN
cblr-1695	513	3	ticker	ticker	PROPN
cblr-1695	513	4	symbol	symbol	NOUN
cblr-1695	513	5	:	:	PUNCT
cblr-1695	513	6	pqg	pqg	NUM
cblr-1695	513	7	)	)	PUNCT
cblr-1695	513	8	initial	initial	ADJ
cblr-1695	513	9	form	form	NOUN
cblr-1695	513	10	s-1	s-1	PROPN
cblr-1695	513	11	reports	report	VERB
cblr-1695	513	12	$	$	SYM
cblr-1695	513	13	1,064,177,000	1,064,177,000	NUM
cblr-1695	513	14	in	in	ADP
cblr-1695	513	15	revenue	revenue	NOUN
cblr-1695	513	16	for	for	ADP
cblr-1695	513	17	fiscal	fiscal	ADJ
cblr-1695	513	18	year	year	NOUN
cblr-1695	513	19	2016	2016	NUM
cblr-1695	513	20	,	,	PUNCT
cblr-1695	513	21	also	also	ADV
cblr-1695	513	22	under	under	ADP
cblr-1695	513	23	the	the	DET
cblr-1695	513	24	egc	egc	ADJ
cblr-1695	513	25	maximum	maximum	PROPN
cblr-1695	513	26	revenue	revenue	NOUN
cblr-1695	513	27	requirement	requirement	NOUN
cblr-1695	513	28	.	.	PUNCT
cblr-1695	514	1	pq	pq	PROPN
cblr-1695	514	2	group	group	PROPN
cblr-1695	514	3	holdings	holdings	PROPN
cblr-1695	514	4	inc	inc	PROPN
cblr-1695	514	5	.	.	PROPN
cblr-1695	514	6	,	,	PUNCT
cblr-1695	514	7	registration	registration	NOUN
cblr-1695	514	8	statement	statement	NOUN
cblr-1695	514	9	(	(	PUNCT
cblr-1695	514	10	form	form	NOUN
cblr-1695	514	11	s-1	s-1	NOUN
cblr-1695	514	12	)	)	PUNCT
cblr-1695	514	13	65	65	NUM
cblr-1695	514	14	(	(	PUNCT
cblr-1695	514	15	june	june	PROPN
cblr-1695	514	16	9	9	NUM
cblr-1695	514	17	,	,	PUNCT
cblr-1695	514	18	2017	2017	NUM
cblr-1695	514	19	)	)	PUNCT
cblr-1695	514	20	.	.	PUNCT
cblr-1695	515	1	it	it	PRON
cblr-1695	515	2	is	be	AUX
cblr-1695	515	3	a	a	DET
cblr-1695	515	4	bit	bit	NOUN
cblr-1695	515	5	more	more	ADV
cblr-1695	515	6	uncertain	uncertain	ADJ
cblr-1695	515	7	why	why	SCONJ
cblr-1695	515	8	pq	pq	NOUN
cblr-1695	515	9	group	group	NOUN
cblr-1695	515	10	did	do	AUX
cblr-1695	515	11	not	not	PART
cblr-1695	515	12	avail	avail	VERB
cblr-1695	515	13	itself	itself	PRON
cblr-1695	515	14	of	of	ADP
cblr-1695	515	15	egc	egc	ADJ
cblr-1695	515	16	status	status	NOUN
cblr-1695	515	17	since	since	SCONJ
cblr-1695	515	18	its	its	PRON
cblr-1695	515	19	initial	initial	ADJ
cblr-1695	515	20	registration	registration	NOUN
cblr-1695	515	21	statement	statement	NOUN
cblr-1695	515	22	came	come	VERB
cblr-1695	515	23	after	after	ADP
cblr-1695	515	24	the	the	DET
cblr-1695	515	25	april	april	PROPN
cblr-1695	515	26	2017	2017	NUM
cblr-1695	515	27	definition	definition	NOUN
cblr-1695	515	28	change	change	NOUN
cblr-1695	515	29	announcement	announcement	NOUN
cblr-1695	515	30	.	.	PUNCT
cblr-1695	516	1	nonetheless	nonetheless	ADV
cblr-1695	516	2	,	,	PUNCT
cblr-1695	516	3	for	for	ADP
cblr-1695	516	4	purposes	purpose	NOUN
cblr-1695	516	5	of	of	ADP
cblr-1695	516	6	this	this	DET
cblr-1695	516	7	note	note	NOUN
cblr-1695	516	8	,	,	PUNCT
cblr-1695	516	9	the	the	DET
cblr-1695	516	10	author	author	NOUN
cblr-1695	516	11	has	have	AUX
cblr-1695	516	12	chosen	choose	VERB
cblr-1695	516	13	to	to	PART
cblr-1695	516	14	include	include	VERB
cblr-1695	516	15	both	both	DET
cblr-1695	516	16	floor	floor	NOUN
cblr-1695	516	17	&	&	CCONJ
cblr-1695	516	18	decor	decor	NOUN
cblr-1695	516	19	and	and	CCONJ
cblr-1695	516	20	pq	pq	PROPN
cblr-1695	516	21	group	group	NOUN
cblr-1695	516	22	as	as	ADP
cblr-1695	516	23	non	non	ADJ
cblr-1695	516	24	-	-	ADJ
cblr-1695	516	25	egcs	egcs	ADJ
cblr-1695	516	26	in	in	ADP
cblr-1695	516	27	order	order	NOUN
cblr-1695	516	28	to	to	PART
cblr-1695	516	29	be	be	AUX
cblr-1695	516	30	as	as	ADP
cblr-1695	516	31	over	over	ADP
cblr-1695	516	32	-	-	PUNCT
cblr-1695	516	33	inclusive	inclusive	NOUN
cblr-1695	516	34	as	as	ADP
cblr-1695	516	35	possible	possible	ADJ
cblr-1695	516	36	.	.	PUNCT
cblr-1695	517	1	neither	neither	DET
cblr-1695	517	2	company	company	NOUN
cblr-1695	517	3	identified	identify	VERB
cblr-1695	517	4	as	as	ADP
cblr-1695	517	5	an	an	DET
cblr-1695	517	6	egc	egc	NOUN
cblr-1695	517	7	although	although	SCONJ
cblr-1695	517	8	both	both	PRON
cblr-1695	517	9	may	may	AUX
cblr-1695	517	10	have	have	VERB
cblr-1695	517	11	technically	technically	ADV
cblr-1695	517	12	qualified	qualified	ADJ
cblr-1695	517	13	as	as	ADP
cblr-1695	517	14	such	such	ADJ
cblr-1695	517	15	given	give	VERB
cblr-1695	517	16	the	the	DET
cblr-1695	517	17	april	april	PROPN
cblr-1695	517	18	2017	2017	NUM
cblr-1695	517	19	egc	egc	ADJ
cblr-1695	517	20	definition	definition	NOUN
cblr-1695	517	21	change	change	NOUN
cblr-1695	517	22	.	.	PUNCT
cblr-1695	518	1	158	158	NUM
cblr-1695	519	1	the	the	DET
cblr-1695	519	2	issuer	issuer	NOUN
cblr-1695	519	3	of	of	ADP
cblr-1695	519	4	the	the	DET
cblr-1695	519	5	q3	q3	PROPN
cblr-1695	519	6	2017	2017	NUM
cblr-1695	519	7	non	non	ADJ
cblr-1695	519	8	-	-	ADJ
cblr-1695	519	9	egc	egc	ADJ
cblr-1695	519	10	ipo	ipo	PROPN
cblr-1695	519	11	first	first	ADV
cblr-1695	519	12	filed	file	VERB
cblr-1695	519	13	its	its	PRON
cblr-1695	519	14	form	form	NOUN
cblr-1695	519	15	s-1	s-1	NOUN
cblr-1695	519	16	on	on	ADP
cblr-1695	519	17	june	june	PROPN
cblr-1695	519	18	9	9	NUM
cblr-1695	519	19	,	,	PUNCT
cblr-1695	519	20	2017	2017	NUM
cblr-1695	519	21	.	.	PUNCT
cblr-1695	520	1	pq	pq	NOUN
cblr-1695	520	2	group	group	PROPN
cblr-1695	520	3	holdings	holdings	PROPN
cblr-1695	520	4	inc	inc	PROPN
cblr-1695	520	5	.	.	PROPN
cblr-1695	520	6	,	,	PUNCT
cblr-1695	520	7	registration	registration	NOUN
cblr-1695	520	8	statement	statement	NOUN
cblr-1695	520	9	(	(	PUNCT
cblr-1695	520	10	form	form	NOUN
cblr-1695	520	11	s-1	s-1	NOUN
cblr-1695	520	12	)	)	PUNCT
cblr-1695	520	13	(	(	PUNCT
cblr-1695	520	14	june	june	PROPN
cblr-1695	520	15	9	9	NUM
cblr-1695	520	16	,	,	PUNCT
cblr-1695	520	17	2017	2017	NUM
cblr-1695	520	18	)	)	PUNCT
cblr-1695	520	19	.	.	PUNCT
cblr-1695	521	1	this	this	PRON
cblr-1695	521	2	was	be	AUX
cblr-1695	521	3	twenty	twenty	NUM
cblr-1695	521	4	days	day	NOUN
cblr-1695	521	5	before	before	ADP
cblr-1695	521	6	the	the	DET
cblr-1695	521	7	sec	sec	PROPN
cblr-1695	521	8	’s	’s	PART
cblr-1695	521	9	announcement	announcement	NOUN
cblr-1695	521	10	of	of	ADP
cblr-1695	521	11	the	the	DET
cblr-1695	521	12	july	july	PROPN
cblr-1695	521	13	2017	2017	NUM
cblr-1695	521	14	change	change	NOUN
cblr-1695	521	15	.	.	PUNCT
cblr-1695	522	1	as	as	ADP
cblr-1695	522	2	a	a	DET
cblr-1695	522	3	result	result	NOUN
cblr-1695	522	4	,	,	PUNCT
cblr-1695	522	5	this	this	DET
cblr-1695	522	6	issuer	issuer	NOUN
cblr-1695	522	7	could	could	AUX
cblr-1695	522	8	not	not	PART
cblr-1695	522	9	have	have	AUX
cblr-1695	522	10	been	be	AUX
cblr-1695	522	11	motivated	motivate	VERB
cblr-1695	522	12	by	by	ADP
cblr-1695	522	13	the	the	DET
cblr-1695	522	14	new	new	ADJ
cblr-1695	522	15	sec	sec	PROPN
cblr-1695	522	16	policy	policy	NOUN
cblr-1695	522	17	,	,	PUNCT
cblr-1695	522	18	but	but	CCONJ
cblr-1695	522	19	instead	instead	ADV
cblr-1695	522	20	had	have	AUX
cblr-1695	522	21	already	already	ADV
cblr-1695	522	22	planned	plan	VERB
cblr-1695	522	23	to	to	PART
cblr-1695	522	24	go	go	VERB
cblr-1695	522	25	public	public	ADJ
cblr-1695	522	26	.	.	PUNCT
cblr-1695	523	1	as	as	SCONJ
cblr-1695	523	2	such	such	ADJ
cblr-1695	523	3	,	,	PUNCT
cblr-1695	523	4	338	338	NUM
cblr-1695	523	5	columbia	columbia	PROPN
cblr-1695	523	6	business	business	NOUN
cblr-1695	523	7	law	law	PROPN
cblr-1695	523	8	review	review	NOUN
cblr-1695	523	9	[	[	X
cblr-1695	523	10	vol	vol	NOUN
cblr-1695	523	11	.	.	PUNCT
cblr-1695	523	12	2019	2019	NUM
cblr-1695	523	13	been	be	AUX
cblr-1695	523	14	successful	successful	ADJ
cblr-1695	523	15	in	in	ADP
cblr-1695	523	16	increasing	increase	VERB
cblr-1695	523	17	the	the	DET
cblr-1695	523	18	volume	volume	NOUN
cblr-1695	523	19	of	of	ADP
cblr-1695	523	20	ipos	ipos	PROPN
cblr-1695	523	21	.	.	PUNCT
cblr-1695	524	1	instead	instead	ADV
cblr-1695	524	2	,	,	PUNCT
cblr-1695	524	3	three	three	NUM
cblr-1695	524	4	non	non	ADJ
cblr-1695	524	5	-	-	ADJ
cblr-1695	524	6	egc	egc	ADJ
cblr-1695	524	7	ipos	ipos	NOUN
cblr-1695	524	8	during	during	ADP
cblr-1695	524	9	the	the	DET
cblr-1695	524	10	second	second	ADJ
cblr-1695	524	11	half159	half159	PROPN
cblr-1695	524	12	of	of	ADP
cblr-1695	524	13	2017	2017	NUM
cblr-1695	524	14	is	be	AUX
cblr-1695	524	15	fairly	fairly	ADV
cblr-1695	524	16	consistent	consistent	ADJ
cblr-1695	524	17	with	with	ADP
cblr-1695	524	18	non	non	ADJ
cblr-1695	524	19	-	-	ADJ
cblr-1695	524	20	egc	egc	ADJ
cblr-1695	524	21	ipo	ipo	NOUN
cblr-1695	524	22	volume	volume	NOUN
cblr-1695	524	23	during	during	ADP
cblr-1695	524	24	the	the	DET
cblr-1695	524	25	two	two	NUM
cblr-1695	524	26	prior	prior	ADJ
cblr-1695	524	27	years	year	NOUN
cblr-1695	524	28	;	;	PUNCT
cblr-1695	524	29	there	there	PRON
cblr-1695	524	30	were	be	VERB
cblr-1695	524	31	four	four	NUM
cblr-1695	524	32	non	non	ADJ
cblr-1695	524	33	-	-	ADJ
cblr-1695	524	34	egc	egc	ADJ
cblr-1695	524	35	ipos	ipos	NOUN
cblr-1695	524	36	during	during	ADP
cblr-1695	524	37	the	the	DET
cblr-1695	524	38	second	second	ADJ
cblr-1695	524	39	half	half	NOUN
cblr-1695	524	40	of	of	ADP
cblr-1695	524	41	2016	2016	NUM
cblr-1695	524	42	,	,	PUNCT
cblr-1695	524	43	and	and	CCONJ
cblr-1695	524	44	two	two	NUM
cblr-1695	524	45	non	non	ADJ
cblr-1695	524	46	-	-	ADJ
cblr-1695	524	47	egc	egc	ADJ
cblr-1695	524	48	ipos	ipos	NOUN
cblr-1695	524	49	during	during	ADP
cblr-1695	524	50	the	the	DET
cblr-1695	524	51	second	second	ADJ
cblr-1695	524	52	half	half	NOUN
cblr-1695	524	53	of	of	ADP
cblr-1695	524	54	2015	2015	NUM
cblr-1695	524	55	.	.	PUNCT
cblr-1695	525	1	similarly	similarly	ADV
cblr-1695	525	2	,	,	PUNCT
cblr-1695	525	3	six	six	NUM
cblr-1695	525	4	non	non	ADJ
cblr-1695	525	5	-	-	ADJ
cblr-1695	525	6	egc	egc	ADJ
cblr-1695	525	7	ipos	ipos	NOUN
cblr-1695	525	8	during	during	ADP
cblr-1695	525	9	the	the	DET
cblr-1695	525	10	first	first	ADJ
cblr-1695	525	11	half	half	NOUN
cblr-1695	525	12	of	of	ADP
cblr-1695	525	13	2018	2018	NUM
cblr-1695	525	14	is	be	AUX
cblr-1695	525	15	consistent	consistent	ADJ
cblr-1695	525	16	with	with	ADP
cblr-1695	525	17	non	non	ADJ
cblr-1695	525	18	-	-	ADJ
cblr-1695	525	19	egc	egc	ADJ
cblr-1695	525	20	ipo	ipo	NOUN
cblr-1695	525	21	volume	volume	NOUN
cblr-1695	525	22	during	during	ADP
cblr-1695	525	23	the	the	DET
cblr-1695	525	24	three	three	NUM
cblr-1695	525	25	prior	prior	ADJ
cblr-1695	525	26	years	year	NOUN
cblr-1695	525	27	;	;	PUNCT
cblr-1695	525	28	there	there	PRON
cblr-1695	525	29	were	be	VERB
cblr-1695	525	30	eight	eight	NUM
cblr-1695	525	31	non	non	ADJ
cblr-1695	525	32	-	-	ADJ
cblr-1695	525	33	egc	egc	ADJ
cblr-1695	525	34	ipos	ipos	NOUN
cblr-1695	525	35	during	during	ADP
cblr-1695	525	36	the	the	DET
cblr-1695	525	37	first	first	ADJ
cblr-1695	525	38	half	half	NOUN
cblr-1695	525	39	of	of	ADP
cblr-1695	525	40	2017	2017	NUM
cblr-1695	525	41	,	,	PUNCT
cblr-1695	525	42	five	five	NUM
cblr-1695	525	43	during	during	ADP
cblr-1695	525	44	the	the	DET
cblr-1695	525	45	first	first	ADJ
cblr-1695	525	46	half	half	NOUN
cblr-1695	525	47	of	of	ADP
cblr-1695	525	48	2016	2016	NUM
cblr-1695	525	49	,	,	PUNCT
cblr-1695	525	50	and	and	CCONJ
cblr-1695	525	51	six	six	NUM
cblr-1695	525	52	during	during	ADP
cblr-1695	525	53	the	the	DET
cblr-1695	525	54	first	first	ADJ
cblr-1695	525	55	half	half	NOUN
cblr-1695	525	56	of	of	ADP
cblr-1695	525	57	2015.160	2015.160	NUM
cblr-1695	525	58	furthermore	furthermore	ADV
cblr-1695	525	59	,	,	PUNCT
cblr-1695	525	60	in	in	ADP
cblr-1695	525	61	general	general	ADJ
cblr-1695	525	62	,	,	PUNCT
cblr-1695	525	63	it	it	PRON
cblr-1695	525	64	would	would	AUX
cblr-1695	525	65	be	be	AUX
cblr-1695	525	66	highly	highly	ADV
cblr-1695	525	67	speculative	speculative	ADJ
cblr-1695	525	68	to	to	PART
cblr-1695	525	69	conclude	conclude	VERB
cblr-1695	525	70	that	that	SCONJ
cblr-1695	525	71	there	there	PRON
cblr-1695	525	72	is	be	VERB
cblr-1695	525	73	a	a	DET
cblr-1695	525	74	causal	causal	ADJ
cblr-1695	525	75	link	link	NOUN
cblr-1695	525	76	between	between	ADP
cblr-1695	525	77	the	the	DET
cblr-1695	525	78	non	non	ADJ
cblr-1695	525	79	-	-	ADJ
cblr-1695	525	80	egc	egc	ADJ
cblr-1695	525	81	ipos	ipos	NOUN
cblr-1695	525	82	themselves	themselves	PRON
cblr-1695	525	83	and	and	CCONJ
cblr-1695	525	84	the	the	DET
cblr-1695	525	85	july	july	PROPN
cblr-1695	525	86	2017	2017	NUM
cblr-1695	525	87	change	change	NOUN
cblr-1695	525	88	.	.	PUNCT
cblr-1695	526	1	indeed	indeed	ADV
cblr-1695	526	2	,	,	PUNCT
cblr-1695	526	3	two	two	NUM
cblr-1695	526	4	pieces	piece	NOUN
cblr-1695	526	5	of	of	ADP
cblr-1695	526	6	evidence	evidence	NOUN
cblr-1695	526	7	suggest	suggest	VERB
cblr-1695	526	8	that	that	SCONJ
cblr-1695	526	9	these	these	DET
cblr-1695	526	10	ipos	ipos	NOUN
cblr-1695	526	11	may	may	AUX
cblr-1695	526	12	have	have	AUX
cblr-1695	526	13	occurred	occur	VERB
cblr-1695	526	14	regardless	regardless	ADV
cblr-1695	526	15	of	of	ADP
cblr-1695	526	16	the	the	DET
cblr-1695	526	17	change	change	NOUN
cblr-1695	526	18	.	.	PUNCT
cblr-1695	527	1	first	first	ADV
cblr-1695	527	2	,	,	PUNCT
cblr-1695	527	3	on	on	ADP
cblr-1695	527	4	a	a	DET
cblr-1695	527	5	micro	micro	ADJ
cblr-1695	527	6	level	level	NOUN
cblr-1695	527	7	,	,	PUNCT
cblr-1695	527	8	the	the	DET
cblr-1695	527	9	timing	timing	NOUN
cblr-1695	527	10	of	of	ADP
cblr-1695	527	11	the	the	DET
cblr-1695	527	12	filings	filing	NOUN
cblr-1695	527	13	of	of	ADP
cblr-1695	527	14	the	the	DET
cblr-1695	527	15	initial	initial	ADJ
cblr-1695	527	16	confidential	confidential	ADJ
cblr-1695	527	17	drs	drs	ADJ
cblr-1695	527	18	documents	document	NOUN
cblr-1695	527	19	suggests	suggest	VERB
cblr-1695	527	20	that	that	SCONJ
cblr-1695	527	21	the	the	DET
cblr-1695	527	22	two	two	NUM
cblr-1695	527	23	q4	q4	PROPN
cblr-1695	527	24	2017	2017	NUM
cblr-1695	527	25	issuers	issuer	NOUN
cblr-1695	527	26	—	—	PUNCT
cblr-1695	527	27	national	national	ADJ
cblr-1695	527	28	vision	vision	PROPN
cblr-1695	527	29	holdings	holdings	PROPN
cblr-1695	527	30	,	,	PUNCT
cblr-1695	527	31	inc	inc	PROPN
cblr-1695	527	32	.	.	PROPN
cblr-1695	527	33	(	(	PUNCT
cblr-1695	527	34	nasdaq	nasdaq	PROPN
cblr-1695	527	35	ticker	ticker	NOUN
cblr-1695	527	36	symbol	symbol	NOUN
cblr-1695	527	37	:	:	PUNCT
cblr-1695	527	38	eye	eye	NOUN
cblr-1695	527	39	)	)	PUNCT
cblr-1695	527	40	and	and	CCONJ
cblr-1695	527	41	ewt	ewt	PROPN
cblr-1695	527	42	holdings	holdings	PROPN
cblr-1695	527	43	i	i	PROPN
cblr-1695	527	44	corp	corp	PROPN
cblr-1695	527	45	.	.	PROPN
cblr-1695	527	46	(	(	PUNCT
cblr-1695	527	47	nyse	nyse	PROPN
cblr-1695	527	48	ticker	ticker	NOUN
cblr-1695	527	49	symbol	symbol	NOUN
cblr-1695	527	50	:	:	PUNCT
cblr-1695	527	51	aqua)—had	aqua)—had	VERB
cblr-1695	527	52	been	be	AUX
cblr-1695	527	53	considering	consider	VERB
cblr-1695	527	54	going	go	VERB
cblr-1695	527	55	public	public	ADJ
cblr-1695	527	56	for	for	ADP
cblr-1695	527	57	quite	quite	ADV
cblr-1695	527	58	only	only	ADV
cblr-1695	527	59	eight	eight	NUM
cblr-1695	527	60	non	non	ADJ
cblr-1695	527	61	-	-	ADJ
cblr-1695	527	62	egcs	egcs	ADJ
cblr-1695	527	63	have	have	AUX
cblr-1695	527	64	filed	file	VERB
cblr-1695	527	65	registration	registration	NOUN
cblr-1695	527	66	documents	document	NOUN
cblr-1695	527	67	and	and	CCONJ
cblr-1695	527	68	completed	complete	VERB
cblr-1695	527	69	ipos	ipos	NOUN
cblr-1695	527	70	since	since	SCONJ
cblr-1695	527	71	the	the	DET
cblr-1695	527	72	announcement	announcement	NOUN
cblr-1695	527	73	and/or	and/or	CCONJ
cblr-1695	527	74	enactment	enactment	NOUN
cblr-1695	527	75	of	of	ADP
cblr-1695	527	76	the	the	DET
cblr-1695	527	77	july	july	PROPN
cblr-1695	527	78	2017	2017	NUM
cblr-1695	527	79	change	change	NOUN
cblr-1695	527	80	.	.	PUNCT
cblr-1695	528	1	159	159	NUM
cblr-1695	528	2	although	although	SCONJ
cblr-1695	528	3	table	table	NOUN
cblr-1695	528	4	1	1	NUM
cblr-1695	528	5	is	be	AUX
cblr-1695	528	6	organized	organize	VERB
cblr-1695	528	7	by	by	ADP
cblr-1695	528	8	quarter	quarter	NOUN
cblr-1695	528	9	,	,	PUNCT
cblr-1695	528	10	the	the	DET
cblr-1695	528	11	first	first	ADJ
cblr-1695	528	12	half	half	NOUN
cblr-1695	528	13	of	of	ADP
cblr-1695	528	14	any	any	DET
cblr-1695	528	15	given	give	VERB
cblr-1695	528	16	year	year	NOUN
cblr-1695	528	17	includes	include	VERB
cblr-1695	528	18	the	the	DET
cblr-1695	528	19	sum	sum	NOUN
cblr-1695	528	20	of	of	ADP
cblr-1695	528	21	the	the	DET
cblr-1695	528	22	data	datum	NOUN
cblr-1695	528	23	for	for	ADP
cblr-1695	528	24	q1	q1	PROPN
cblr-1695	528	25	and	and	CCONJ
cblr-1695	528	26	q2	q2	NOUN
cblr-1695	528	27	.	.	PUNCT
cblr-1695	529	1	the	the	DET
cblr-1695	529	2	second	second	ADJ
cblr-1695	529	3	half	half	NOUN
cblr-1695	529	4	,	,	PUNCT
cblr-1695	529	5	in	in	ADP
cblr-1695	529	6	turn	turn	NOUN
cblr-1695	529	7	,	,	PUNCT
cblr-1695	529	8	encompasses	encompass	VERB
cblr-1695	529	9	q3	q3	PROPN
cblr-1695	529	10	and	and	CCONJ
cblr-1695	529	11	q4	q4	PROPN
cblr-1695	529	12	.	.	PUNCT
cblr-1695	530	1	160	160	NUM
cblr-1695	530	2	analyzing	analyze	VERB
cblr-1695	530	3	the	the	DET
cblr-1695	530	4	data	datum	NOUN
cblr-1695	530	5	on	on	ADP
cblr-1695	530	6	a	a	DET
cblr-1695	530	7	quarterly	quarterly	ADJ
cblr-1695	530	8	level	level	NOUN
cblr-1695	530	9	reveals	reveal	VERB
cblr-1695	530	10	a	a	DET
cblr-1695	530	11	similar	similar	ADJ
cblr-1695	530	12	trend	trend	NOUN
cblr-1695	530	13	.	.	PUNCT
cblr-1695	531	1	there	there	PRON
cblr-1695	531	2	were	be	VERB
cblr-1695	531	3	two	two	NUM
cblr-1695	531	4	non	non	ADJ
cblr-1695	531	5	-	-	ADJ
cblr-1695	531	6	egc	egc	ADJ
cblr-1695	531	7	ipos	ipos	NOUN
cblr-1695	531	8	in	in	ADP
cblr-1695	531	9	q4	q4	PROPN
cblr-1695	531	10	2017	2017	NUM
cblr-1695	531	11	,	,	PUNCT
cblr-1695	531	12	which	which	PRON
cblr-1695	531	13	is	be	AUX
cblr-1695	531	14	in	in	ADP
cblr-1695	531	15	line	line	NOUN
cblr-1695	531	16	with	with	ADP
cblr-1695	531	17	q4	q4	PROPN
cblr-1695	531	18	in	in	ADP
cblr-1695	531	19	the	the	DET
cblr-1695	531	20	two	two	NUM
cblr-1695	531	21	prior	prior	ADJ
cblr-1695	531	22	years	year	NOUN
cblr-1695	531	23	;	;	PUNCT
cblr-1695	531	24	q4	q4	PROPN
cblr-1695	531	25	2016	2016	NUM
cblr-1695	531	26	had	have	VERB
cblr-1695	531	27	three	three	NUM
cblr-1695	531	28	,	,	PUNCT
cblr-1695	531	29	and	and	CCONJ
cblr-1695	531	30	q4	q4	PROPN
cblr-1695	531	31	2015	2015	NUM
cblr-1695	531	32	had	have	VERB
cblr-1695	531	33	two	two	NUM
cblr-1695	531	34	.	.	PUNCT
cblr-1695	532	1	there	there	PRON
cblr-1695	532	2	were	be	VERB
cblr-1695	532	3	two	two	NUM
cblr-1695	532	4	non	non	ADJ
cblr-1695	532	5	-	-	ADJ
cblr-1695	532	6	egc	egc	ADJ
cblr-1695	532	7	ipos	ipos	NOUN
cblr-1695	532	8	in	in	ADP
cblr-1695	532	9	q1	q1	PROPN
cblr-1695	532	10	2018	2018	NUM
cblr-1695	532	11	,	,	PUNCT
cblr-1695	532	12	which	which	PRON
cblr-1695	532	13	is	be	AUX
cblr-1695	532	14	also	also	ADV
cblr-1695	532	15	in	in	ADP
cblr-1695	532	16	line	line	NOUN
cblr-1695	532	17	with	with	ADP
cblr-1695	532	18	q1	q1	PROPN
cblr-1695	532	19	for	for	ADP
cblr-1695	532	20	the	the	DET
cblr-1695	532	21	three	three	NUM
cblr-1695	532	22	prior	prior	ADJ
cblr-1695	532	23	years	year	NOUN
cblr-1695	532	24	;	;	PUNCT
cblr-1695	532	25	q1	q1	PROPN
cblr-1695	532	26	2017	2017	NUM
cblr-1695	532	27	had	have	VERB
cblr-1695	532	28	four	four	NUM
cblr-1695	532	29	,	,	PUNCT
cblr-1695	532	30	q1	q1	PROPN
cblr-1695	532	31	2016	2016	NUM
cblr-1695	532	32	had	have	VERB
cblr-1695	532	33	zero	zero	NUM
cblr-1695	532	34	,	,	PUNCT
cblr-1695	532	35	and	and	CCONJ
cblr-1695	532	36	q1	q1	PROPN
cblr-1695	532	37	2015	2015	NUM
cblr-1695	532	38	had	have	VERB
cblr-1695	532	39	one	one	NUM
cblr-1695	532	40	.	.	PUNCT
cblr-1695	533	1	similarly	similarly	ADV
cblr-1695	533	2	,	,	PUNCT
cblr-1695	533	3	q2	q2	PROPN
cblr-1695	533	4	2018	2018	NUM
cblr-1695	533	5	had	have	VERB
cblr-1695	533	6	four	four	NUM
cblr-1695	533	7	non	non	ADJ
cblr-1695	533	8	-	-	ADJ
cblr-1695	533	9	egc	egc	ADJ
cblr-1695	533	10	ipos	ipos	NOUN
cblr-1695	533	11	,	,	PUNCT
cblr-1695	533	12	and	and	CCONJ
cblr-1695	533	13	q2	q2	NOUN
cblr-1695	533	14	in	in	ADP
cblr-1695	533	15	each	each	PRON
cblr-1695	533	16	of	of	ADP
cblr-1695	533	17	the	the	DET
cblr-1695	533	18	three	three	NUM
cblr-1695	533	19	years	year	NOUN
cblr-1695	533	20	prior	prior	ADV
cblr-1695	533	21	saw	see	VERB
cblr-1695	533	22	either	either	CCONJ
cblr-1695	533	23	four	four	NUM
cblr-1695	533	24	or	or	CCONJ
cblr-1695	533	25	five	five	NUM
cblr-1695	533	26	non	non	ADJ
cblr-1695	533	27	-	-	ADJ
cblr-1695	533	28	egc	egc	ADJ
cblr-1695	533	29	ipos	ipos	NOUN
cblr-1695	533	30	.	.	PUNCT
cblr-1695	534	1	using	use	VERB
cblr-1695	534	2	historical	historical	ADJ
cblr-1695	534	3	data	datum	NOUN
cblr-1695	534	4	as	as	ADP
cblr-1695	534	5	a	a	DET
cblr-1695	534	6	predictive	predictive	ADJ
cblr-1695	534	7	indicator	indicator	NOUN
cblr-1695	534	8	,	,	PUNCT
cblr-1695	534	9	one	one	PRON
cblr-1695	534	10	would	would	AUX
cblr-1695	534	11	likely	likely	ADV
cblr-1695	534	12	conclude	conclude	VERB
cblr-1695	534	13	that	that	SCONJ
cblr-1695	534	14	two	two	NUM
cblr-1695	534	15	non	non	ADJ
cblr-1695	534	16	-	-	ADJ
cblr-1695	534	17	egc	egc	ADJ
cblr-1695	534	18	ipos	ipos	NOUN
cblr-1695	534	19	in	in	ADP
cblr-1695	534	20	q4	q4	PROPN
cblr-1695	534	21	2017	2017	NUM
cblr-1695	534	22	and	and	CCONJ
cblr-1695	534	23	four	four	NUM
cblr-1695	534	24	non	non	ADJ
cblr-1695	534	25	-	-	ADJ
cblr-1695	534	26	egc	egc	ADJ
cblr-1695	534	27	ipos	ipos	NOUN
cblr-1695	534	28	in	in	ADP
cblr-1695	534	29	q2	q2	PROPN
cblr-1695	534	30	2018	2018	NUM
cblr-1695	534	31	are	be	AUX
cblr-1695	534	32	consistent	consistent	ADJ
cblr-1695	534	33	with	with	ADP
cblr-1695	534	34	the	the	DET
cblr-1695	534	35	number	number	NOUN
cblr-1695	534	36	of	of	ADP
cblr-1695	534	37	non	non	ADJ
cblr-1695	534	38	-	-	ADJ
cblr-1695	534	39	egcs	egcs	ADJ
cblr-1695	534	40	that	that	PRON
cblr-1695	534	41	should	should	AUX
cblr-1695	534	42	have	have	AUX
cblr-1695	534	43	gone	go	VERB
cblr-1695	534	44	public	public	ADJ
cblr-1695	534	45	during	during	ADP
cblr-1695	534	46	this	this	DET
cblr-1695	534	47	time	time	NOUN
cblr-1695	534	48	period	period	NOUN
cblr-1695	534	49	,	,	PUNCT
cblr-1695	534	50	regardless	regardless	ADV
cblr-1695	534	51	of	of	ADP
cblr-1695	534	52	the	the	DET
cblr-1695	534	53	july	july	PROPN
cblr-1695	534	54	2017	2017	NUM
cblr-1695	534	55	change	change	NOUN
cblr-1695	534	56	.	.	PUNCT
cblr-1695	535	1	q1	q1	PROPN
cblr-1695	535	2	2018	2018	NUM
cblr-1695	535	3	is	be	AUX
cblr-1695	535	4	inconclusive	inconclusive	ADJ
cblr-1695	535	5	since	since	SCONJ
cblr-1695	535	6	the	the	DET
cblr-1695	535	7	three	three	NUM
cblr-1695	535	8	prior	prior	ADJ
cblr-1695	535	9	years	year	NOUN
cblr-1695	535	10	are	be	AUX
cblr-1695	535	11	more	more	ADV
cblr-1695	535	12	erratic	erratic	ADJ
cblr-1695	535	13	than	than	ADP
cblr-1695	535	14	other	other	ADJ
cblr-1695	535	15	quarters	quarter	NOUN
cblr-1695	535	16	.	.	PUNCT
cblr-1695	536	1	nonetheless	nonetheless	ADV
cblr-1695	536	2	,	,	PUNCT
cblr-1695	536	3	the	the	DET
cblr-1695	536	4	fact	fact	NOUN
cblr-1695	536	5	that	that	SCONJ
cblr-1695	536	6	this	this	DET
cblr-1695	536	7	quarter	quarter	NOUN
cblr-1695	536	8	saw	see	VERB
cblr-1695	536	9	two	two	NUM
cblr-1695	536	10	non	non	ADJ
cblr-1695	536	11	-	-	ADJ
cblr-1695	536	12	egc	egc	ADJ
cblr-1695	536	13	ipos	ipos	NOUN
cblr-1695	536	14	is	be	AUX
cblr-1695	536	15	far	far	ADV
cblr-1695	536	16	from	from	ADP
cblr-1695	536	17	significant	significant	ADJ
cblr-1695	536	18	since	since	SCONJ
cblr-1695	536	19	the	the	DET
cblr-1695	536	20	prior	prior	ADJ
cblr-1695	536	21	year	year	NOUN
cblr-1695	536	22	’s	’s	PART
cblr-1695	536	23	q1	q1	PROPN
cblr-1695	536	24	,	,	PUNCT
cblr-1695	536	25	before	before	ADP
cblr-1695	536	26	the	the	DET
cblr-1695	536	27	change	change	NOUN
cblr-1695	536	28	,	,	PUNCT
cblr-1695	536	29	saw	see	VERB
cblr-1695	536	30	double	double	DET
cblr-1695	536	31	this	this	DET
cblr-1695	536	32	amount	amount	NOUN
cblr-1695	536	33	.	.	PUNCT
cblr-1695	537	1	this	this	DET
cblr-1695	537	2	more	more	ADV
cblr-1695	537	3	detailed	detailed	ADJ
cblr-1695	537	4	analysis	analysis	NOUN
cblr-1695	537	5	of	of	ADP
cblr-1695	537	6	the	the	DET
cblr-1695	537	7	data	datum	NOUN
cblr-1695	537	8	further	far	ADV
cblr-1695	537	9	suggests	suggest	VERB
cblr-1695	537	10	that	that	SCONJ
cblr-1695	537	11	the	the	DET
cblr-1695	537	12	july	july	PROPN
cblr-1695	537	13	2017	2017	NUM
cblr-1695	537	14	change	change	NOUN
cblr-1695	537	15	has	have	AUX
cblr-1695	537	16	not	not	PART
cblr-1695	537	17	yet	yet	ADV
cblr-1695	537	18	influenced	influence	VERB
cblr-1695	537	19	post	post	ADJ
cblr-1695	537	20	-	-	ADJ
cblr-1695	537	21	change	change	ADJ
cblr-1695	537	22	non	non	ADJ
cblr-1695	537	23	-	-	ADJ
cblr-1695	537	24	egc	egc	ADJ
cblr-1695	537	25	ipo	ipo	NOUN
cblr-1695	537	26	activity	activity	NOUN
cblr-1695	537	27	.	.	PUNCT
cblr-1695	538	1	no	no	INTJ
cblr-1695	538	2	.	.	PUNCT
cblr-1695	539	1	1:305	1:305	NUM
cblr-1695	539	2	]	]	X
cblr-1695	539	3	going	go	VERB
cblr-1695	539	4	public	public	ADJ
cblr-1695	539	5	secretly	secretly	ADV
cblr-1695	539	6	339	339	NUM
cblr-1695	539	7	some	some	DET
cblr-1695	539	8	time	time	NOUN
cblr-1695	539	9	.	.	PUNCT
cblr-1695	540	1	national	national	ADJ
cblr-1695	540	2	vision	vision	PROPN
cblr-1695	540	3	filed	file	VERB
cblr-1695	540	4	a	a	DET
cblr-1695	540	5	confidential	confidential	ADJ
cblr-1695	540	6	drs	dr	NOUN
cblr-1695	540	7	on	on	ADP
cblr-1695	540	8	the	the	DET
cblr-1695	540	9	first	first	ADJ
cblr-1695	540	10	day	day	NOUN
cblr-1695	540	11	the	the	DET
cblr-1695	540	12	change	change	NOUN
cblr-1695	540	13	became	become	VERB
cblr-1695	540	14	effective	effective	ADJ
cblr-1695	540	15	—	—	PUNCT
cblr-1695	540	16	july	july	PROPN
cblr-1695	540	17	10	10	NUM
cblr-1695	540	18	,	,	PUNCT
cblr-1695	540	19	2017	2017	NUM
cblr-1695	540	20	—	—	PUNCT
cblr-1695	540	21	and	and	CCONJ
cblr-1695	540	22	ewt	ewt	PROPN
cblr-1695	540	23	holdings	holding	NOUN
cblr-1695	540	24	filed	file	VERB
cblr-1695	540	25	its	its	PRON
cblr-1695	540	26	confidential	confidential	ADJ
cblr-1695	540	27	drs	dr	NOUN
cblr-1695	540	28	one	one	NUM
cblr-1695	540	29	week	week	NOUN
cblr-1695	540	30	later	later	ADV
cblr-1695	540	31	,	,	PUNCT
cblr-1695	540	32	on	on	ADP
cblr-1695	540	33	july	july	PROPN
cblr-1695	540	34	17	17	NUM
cblr-1695	540	35	,	,	PUNCT
cblr-1695	540	36	2017.161	2017.161	NUM
cblr-1695	540	37	while	while	SCONJ
cblr-1695	540	38	it	it	PRON
cblr-1695	540	39	is	be	AUX
cblr-1695	540	40	possible	possible	ADJ
cblr-1695	540	41	that	that	SCONJ
cblr-1695	540	42	one	one	NUM
cblr-1695	540	43	or	or	CCONJ
cblr-1695	540	44	both	both	PRON
cblr-1695	540	45	of	of	ADP
cblr-1695	540	46	these	these	DET
cblr-1695	540	47	companies	company	NOUN
cblr-1695	540	48	were	be	AUX
cblr-1695	540	49	motivated	motivate	VERB
cblr-1695	540	50	by	by	ADP
cblr-1695	540	51	the	the	DET
cblr-1695	540	52	sec	sec	PROPN
cblr-1695	540	53	announcement	announcement	NOUN
cblr-1695	540	54	of	of	ADP
cblr-1695	540	55	the	the	DET
cblr-1695	540	56	july	july	PROPN
cblr-1695	540	57	2017	2017	NUM
cblr-1695	540	58	change	change	NOUN
cblr-1695	540	59	on	on	ADP
cblr-1695	540	60	june	june	PROPN
cblr-1695	540	61	29	29	NUM
cblr-1695	540	62	,	,	PUNCT
cblr-1695	540	63	2017	2017	NUM
cblr-1695	540	64	,	,	PUNCT
cblr-1695	540	65	it	it	PRON
cblr-1695	540	66	is	be	AUX
cblr-1695	540	67	unlikely	unlikely	ADJ
cblr-1695	540	68	that	that	SCONJ
cblr-1695	540	69	these	these	DET
cblr-1695	540	70	large	large	ADJ
cblr-1695	540	71	private	private	ADJ
cblr-1695	540	72	companies	company	NOUN
cblr-1695	540	73	would	would	AUX
cblr-1695	540	74	decide	decide	VERB
cblr-1695	540	75	to	to	PART
cblr-1695	540	76	go	go	VERB
cblr-1695	540	77	public	public	ADJ
cblr-1695	540	78	and	and	CCONJ
cblr-1695	540	79	file	file	VERB
cblr-1695	540	80	their	their	PRON
cblr-1695	540	81	drss	drss	NOUN
cblr-1695	540	82	in	in	ADP
cblr-1695	540	83	such	such	DET
cblr-1695	540	84	a	a	DET
cblr-1695	540	85	short	short	ADJ
cblr-1695	540	86	amount	amount	NOUN
cblr-1695	540	87	of	of	ADP
cblr-1695	540	88	time	time	NOUN
cblr-1695	540	89	.	.	PUNCT
cblr-1695	541	1	instead	instead	ADV
cblr-1695	541	2	,	,	PUNCT
cblr-1695	541	3	it	it	PRON
cblr-1695	541	4	is	be	AUX
cblr-1695	541	5	more	more	ADV
cblr-1695	541	6	likely	likely	ADJ
cblr-1695	541	7	that	that	SCONJ
cblr-1695	541	8	these	these	DET
cblr-1695	541	9	companies	company	NOUN
cblr-1695	541	10	had	have	AUX
cblr-1695	541	11	planned	plan	VERB
cblr-1695	541	12	to	to	PART
cblr-1695	541	13	go	go	VERB
cblr-1695	541	14	public	public	ADJ
cblr-1695	541	15	prior	prior	ADV
cblr-1695	541	16	to	to	ADP
cblr-1695	541	17	the	the	DET
cblr-1695	541	18	sec	sec	PROPN
cblr-1695	541	19	announcement	announcement	NOUN
cblr-1695	541	20	and	and	CCONJ
cblr-1695	541	21	slightly	slightly	ADV
cblr-1695	541	22	delayed	delay	VERB
cblr-1695	541	23	their	their	PRON
cblr-1695	541	24	filings	filing	NOUN
cblr-1695	541	25	in	in	ADP
cblr-1695	541	26	order	order	NOUN
cblr-1695	541	27	to	to	PART
cblr-1695	541	28	take	take	VERB
cblr-1695	541	29	advantage	advantage	NOUN
cblr-1695	541	30	of	of	ADP
cblr-1695	541	31	the	the	DET
cblr-1695	541	32	new	new	ADJ
cblr-1695	541	33	confidential	confidential	ADJ
cblr-1695	541	34	filing	filing	NOUN
cblr-1695	541	35	process	process	NOUN
cblr-1695	541	36	.	.	PUNCT
cblr-1695	542	1	therefore	therefore	ADV
cblr-1695	542	2	,	,	PUNCT
cblr-1695	542	3	it	it	PRON
cblr-1695	542	4	is	be	AUX
cblr-1695	542	5	likely	likely	ADJ
cblr-1695	542	6	that	that	SCONJ
cblr-1695	542	7	only	only	ADV
cblr-1695	542	8	six	six	NUM
cblr-1695	542	9	issuers	issuer	NOUN
cblr-1695	542	10	—	—	PUNCT
cblr-1695	542	11	all	all	PRON
cblr-1695	542	12	of	of	ADP
cblr-1695	542	13	whom	whom	PRON
cblr-1695	542	14	filed	file	VERB
cblr-1695	542	15	their	their	PRON
cblr-1695	542	16	drss	drss	NOUN
cblr-1695	542	17	in	in	ADP
cblr-1695	542	18	september	september	PROPN
cblr-1695	542	19	2017	2017	NUM
cblr-1695	542	20	or	or	CCONJ
cblr-1695	542	21	later	later	ADV
cblr-1695	542	22	and	and	CCONJ
cblr-1695	542	23	went	go	VERB
cblr-1695	542	24	public	public	ADJ
cblr-1695	542	25	in	in	ADP
cblr-1695	542	26	2018	2018	NUM
cblr-1695	542	27	—	—	PUNCT
cblr-1695	542	28	could	could	AUX
cblr-1695	542	29	have	have	AUX
cblr-1695	542	30	been	be	AUX
cblr-1695	542	31	motivated	motivate	VERB
cblr-1695	542	32	by	by	ADP
cblr-1695	542	33	the	the	DET
cblr-1695	542	34	change	change	NOUN
cblr-1695	542	35	.	.	PUNCT
cblr-1695	543	1	however	however	ADV
cblr-1695	543	2	,	,	PUNCT
cblr-1695	543	3	as	as	SCONJ
cblr-1695	543	4	discussed	discuss	VERB
cblr-1695	543	5	,	,	PUNCT
cblr-1695	543	6	this	this	DET
cblr-1695	543	7	level	level	NOUN
cblr-1695	543	8	of	of	ADP
cblr-1695	543	9	non	non	ADJ
cblr-1695	543	10	-	-	ADJ
cblr-1695	543	11	egc	egc	ADJ
cblr-1695	543	12	ipo	ipo	NOUN
cblr-1695	543	13	activity	activity	NOUN
cblr-1695	543	14	is	be	AUX
cblr-1695	543	15	largely	largely	ADV
cblr-1695	543	16	consistent	consistent	ADJ
cblr-1695	543	17	with	with	ADP
cblr-1695	543	18	non	non	ADJ
cblr-1695	543	19	-	-	ADJ
cblr-1695	543	20	egc	egc	ADJ
cblr-1695	543	21	ipo	ipo	NOUN
cblr-1695	543	22	activity	activity	NOUN
cblr-1695	543	23	in	in	ADP
cblr-1695	543	24	the	the	DET
cblr-1695	543	25	years	year	NOUN
cblr-1695	543	26	prior	prior	ADV
cblr-1695	543	27	to	to	ADP
cblr-1695	543	28	the	the	DET
cblr-1695	543	29	change.162	change.162	NOUN
cblr-1695	543	30	nonetheless	nonetheless	ADV
cblr-1695	543	31	,	,	PUNCT
cblr-1695	543	32	a	a	DET
cblr-1695	543	33	strong	strong	ADJ
cblr-1695	543	34	counter	counter	ADJ
cblr-1695	543	35	argument	argument	NOUN
cblr-1695	543	36	to	to	ADP
cblr-1695	543	37	this	this	DET
cblr-1695	543	38	analysis	analysis	NOUN
cblr-1695	543	39	is	be	AUX
cblr-1695	543	40	that	that	SCONJ
cblr-1695	543	41	going	go	VERB
cblr-1695	543	42	public	public	ADJ
cblr-1695	543	43	takes	take	VERB
cblr-1695	543	44	time	time	NOUN
cblr-1695	543	45	and	and	CCONJ
cblr-1695	543	46	,	,	PUNCT
cblr-1695	543	47	therefore	therefore	ADV
cblr-1695	543	48	,	,	PUNCT
cblr-1695	543	49	the	the	DET
cblr-1695	543	50	first	first	ADJ
cblr-1695	543	51	year	year	NOUN
cblr-1695	543	52	after	after	SCONJ
cblr-1695	543	53	the	the	DET
cblr-1695	543	54	change	change	NOUN
cblr-1695	543	55	does	do	AUX
cblr-1695	543	56	not	not	PART
cblr-1695	543	57	capture	capture	VERB
cblr-1695	543	58	the	the	DET
cblr-1695	543	59	majority	majority	NOUN
cblr-1695	543	60	of	of	ADP
cblr-1695	543	61	companies	company	NOUN
cblr-1695	543	62	motivated	motivate	VERB
cblr-1695	543	63	by	by	ADP
cblr-1695	543	64	the	the	DET
cblr-1695	543	65	change	change	NOUN
cblr-1695	543	66	who	who	PRON
cblr-1695	543	67	will	will	AUX
cblr-1695	543	68	eventually	eventually	ADV
cblr-1695	543	69	go	go	VERB
cblr-1695	543	70	public	public	ADJ
cblr-1695	543	71	.	.	PUNCT
cblr-1695	544	1	instead	instead	ADV
cblr-1695	544	2	,	,	PUNCT
cblr-1695	544	3	their	their	PRON
cblr-1695	544	4	ipos	ipos	NOUN
cblr-1695	544	5	may	may	AUX
cblr-1695	544	6	occur	occur	VERB
cblr-1695	544	7	long	long	ADV
cblr-1695	544	8	after	after	SCONJ
cblr-1695	544	9	the	the	DET
cblr-1695	544	10	change	change	NOUN
cblr-1695	544	11	has	have	AUX
cblr-1695	544	12	been	be	AUX
cblr-1695	544	13	in	in	ADP
cblr-1695	544	14	effect	effect	NOUN
cblr-1695	544	15	for	for	ADP
cblr-1695	544	16	only	only	ADV
cblr-1695	544	17	one	one	NUM
cblr-1695	544	18	year	year	NOUN
cblr-1695	544	19	.	.	PUNCT
cblr-1695	545	1	as	as	SCONJ
cblr-1695	545	2	such	such	ADJ
cblr-1695	545	3	,	,	PUNCT
cblr-1695	545	4	additional	additional	ADJ
cblr-1695	545	5	studies	study	NOUN
cblr-1695	545	6	should	should	AUX
cblr-1695	545	7	be	be	AUX
cblr-1695	545	8	conducted	conduct	VERB
cblr-1695	545	9	in	in	ADP
cblr-1695	545	10	the	the	DET
cblr-1695	545	11	future	future	NOUN
cblr-1695	545	12	to	to	PART
cblr-1695	545	13	further	far	ADV
cblr-1695	545	14	assess	assess	VERB
cblr-1695	545	15	the	the	DET
cblr-1695	545	16	change	change	NOUN
cblr-1695	545	17	’s	’s	PART
cblr-1695	545	18	effect	effect	NOUN
cblr-1695	545	19	.	.	PUNCT
cblr-1695	546	1	turning	turn	VERB
cblr-1695	546	2	to	to	ADP
cblr-1695	546	3	the	the	DET
cblr-1695	546	4	proportion	proportion	NOUN
cblr-1695	546	5	method	method	NOUN
cblr-1695	546	6	of	of	ADP
cblr-1695	546	7	analysis	analysis	NOUN
cblr-1695	546	8	,	,	PUNCT
cblr-1695	546	9	the	the	DET
cblr-1695	546	10	data	datum	NOUN
cblr-1695	546	11	show	show	VERB
cblr-1695	546	12	similar	similar	ADJ
cblr-1695	546	13	dismal	dismal	ADJ
cblr-1695	546	14	results	result	NOUN
cblr-1695	546	15	.	.	PUNCT
cblr-1695	547	1	this	this	DET
cblr-1695	547	2	method	method	NOUN
cblr-1695	547	3	is	be	AUX
cblr-1695	547	4	predicated	predicate	VERB
cblr-1695	547	5	on	on	ADP
cblr-1695	547	6	the	the	DET
cblr-1695	547	7	fact	fact	NOUN
cblr-1695	547	8	that	that	SCONJ
cblr-1695	547	9	if	if	SCONJ
cblr-1695	547	10	the	the	DET
cblr-1695	547	11	july	july	PROPN
cblr-1695	547	12	2017	2017	NUM
cblr-1695	547	13	change	change	NOUN
cblr-1695	547	14	made	make	VERB
cblr-1695	547	15	going	go	VERB
cblr-1695	547	16	public	public	ADJ
cblr-1695	547	17	more	more	ADV
cblr-1695	547	18	appealing	appealing	ADJ
cblr-1695	547	19	to	to	ADP
cblr-1695	547	20	non	non	ADJ
cblr-1695	547	21	-	-	ADJ
cblr-1695	547	22	egcs	egcs	ADJ
cblr-1695	547	23	,	,	PUNCT
cblr-1695	547	24	these	these	DET
cblr-1695	547	25	firms	firm	NOUN
cblr-1695	547	26	should	should	AUX
cblr-1695	547	27	begin	begin	VERB
cblr-1695	547	28	to	to	PART
cblr-1695	547	29	make	make	VERB
cblr-1695	547	30	up	up	ADP
cblr-1695	547	31	a	a	DET
cblr-1695	547	32	larger	large	ADJ
cblr-1695	547	33	proportion	proportion	NOUN
cblr-1695	547	34	of	of	ADP
cblr-1695	547	35	overall	overall	ADJ
cblr-1695	547	36	ipo	ipo	NOUN
cblr-1695	547	37	activity	activity	NOUN
cblr-1695	547	38	.	.	PUNCT
cblr-1695	548	1	this	this	DET
cblr-1695	548	2	increase	increase	NOUN
cblr-1695	548	3	has	have	AUX
cblr-1695	548	4	not	not	PART
cblr-1695	548	5	happened	happen	VERB
cblr-1695	548	6	either	either	ADV
cblr-1695	548	7	.	.	PUNCT
cblr-1695	549	1	non	non	ADJ
cblr-1695	549	2	-	-	ADJ
cblr-1695	549	3	egcs	egcs	ADJ
cblr-1695	549	4	in	in	ADP
cblr-1695	549	5	2017	2017	NUM
cblr-1695	549	6	and	and	CCONJ
cblr-1695	549	7	the	the	DET
cblr-1695	549	8	first	first	ADJ
cblr-1695	549	9	half	half	NOUN
cblr-1695	549	10	of	of	ADP
cblr-1695	549	11	2018	2018	NUM
cblr-1695	549	12	made	make	VERB
cblr-1695	549	13	up	up	ADP
cblr-1695	549	14	a	a	DET
cblr-1695	549	15	slightly	slightly	ADV
cblr-1695	549	16	lower	low	ADJ
cblr-1695	549	17	percentage	percentage	NOUN
cblr-1695	549	18	of	of	ADP
cblr-1695	549	19	total	total	ADJ
cblr-1695	549	20	ipos	ipos	NOUN
cblr-1695	549	21	than	than	ADP
cblr-1695	549	22	in	in	ADP
cblr-1695	549	23	2016	2016	NUM
cblr-1695	549	24	and	and	CCONJ
cblr-1695	549	25	a	a	DET
cblr-1695	549	26	higher	high	ADJ
cblr-1695	549	27	percentage	percentage	NOUN
cblr-1695	549	28	than	than	ADP
cblr-1695	549	29	in	in	ADP
cblr-1695	549	30	2015	2015	NUM
cblr-1695	549	31	.	.	PUNCT
cblr-1695	550	1	however	however	ADV
cblr-1695	550	2	,	,	PUNCT
cblr-1695	550	3	focusing	focus	VERB
cblr-1695	550	4	on	on	ADP
cblr-1695	550	5	q4	q4	PROPN
cblr-1695	550	6	2017	2017	NUM
cblr-1695	550	7	—	—	PUNCT
cblr-1695	550	8	the	the	DET
cblr-1695	550	9	first	first	ADJ
cblr-1695	550	10	quarter	quarter	NOUN
cblr-1695	550	11	with	with	ADP
cblr-1695	550	12	ipos	ipos	NOUN
cblr-1695	550	13	from	from	ADP
cblr-1695	550	14	non	non	ADJ
cblr-1695	550	15	-	-	ADJ
cblr-1695	550	16	egcs	egcs	ADJ
cblr-1695	550	17	that	that	SCONJ
cblr-1695	550	18	first	first	ADJ
cblr-1695	550	19	161	161	NUM
cblr-1695	550	20	after	after	ADP
cblr-1695	550	21	filing	file	VERB
cblr-1695	550	22	these	these	DET
cblr-1695	550	23	confidential	confidential	ADJ
cblr-1695	550	24	drss	drss	NOUN
cblr-1695	550	25	,	,	PUNCT
cblr-1695	550	26	both	both	DET
cblr-1695	550	27	companies	company	NOUN
cblr-1695	550	28	continued	continue	VERB
cblr-1695	550	29	the	the	DET
cblr-1695	550	30	ipo	ipo	NOUN
cblr-1695	550	31	process	process	NOUN
cblr-1695	550	32	and	and	CCONJ
cblr-1695	550	33	filed	file	VERB
cblr-1695	550	34	public	public	ADJ
cblr-1695	550	35	form	form	NOUN
cblr-1695	550	36	s-1s	s-1s	PROPN
cblr-1695	550	37	;	;	PUNCT
cblr-1695	550	38	national	national	ADJ
cblr-1695	550	39	vision	vision	NOUN
cblr-1695	550	40	filed	file	VERB
cblr-1695	550	41	its	its	PRON
cblr-1695	550	42	on	on	ADP
cblr-1695	550	43	september	september	PROPN
cblr-1695	550	44	29	29	NUM
cblr-1695	550	45	,	,	PUNCT
cblr-1695	550	46	2017	2017	NUM
cblr-1695	550	47	and	and	CCONJ
cblr-1695	550	48	ewt	ewt	PROPN
cblr-1695	550	49	holdings	holding	NOUN
cblr-1695	550	50	filed	file	VERB
cblr-1695	550	51	its	its	PRON
cblr-1695	550	52	on	on	ADP
cblr-1695	550	53	october	october	PROPN
cblr-1695	550	54	3	3	NUM
cblr-1695	550	55	,	,	PUNCT
cblr-1695	550	56	2017	2017	NUM
cblr-1695	550	57	.	.	PUNCT
cblr-1695	551	1	about	about	ADV
cblr-1695	551	2	one	one	NUM
cblr-1695	551	3	month	month	NOUN
cblr-1695	551	4	after	after	ADP
cblr-1695	551	5	filing	file	VERB
cblr-1695	551	6	the	the	DET
cblr-1695	551	7	form	form	NOUN
cblr-1695	551	8	s-1s	s-1s	ADJ
cblr-1695	551	9	,	,	PUNCT
cblr-1695	551	10	both	both	DET
cblr-1695	551	11	companies	company	NOUN
cblr-1695	551	12	officially	officially	ADV
cblr-1695	551	13	went	go	VERB
cblr-1695	551	14	public	public	ADJ
cblr-1695	551	15	.	.	PUNCT
cblr-1695	552	1	162	162	NUM
cblr-1695	552	2	see	see	VERB
cblr-1695	552	3	supra	supra	PROPN
cblr-1695	552	4	notes	note	VERB
cblr-1695	552	5	158–60	158–60	PROPN
cblr-1695	552	6	and	and	CCONJ
cblr-1695	552	7	accompanying	accompany	VERB
cblr-1695	552	8	text	text	NOUN
cblr-1695	552	9	.	.	PUNCT
cblr-1695	553	1	340	340	NUM
cblr-1695	553	2	columbia	columbia	PROPN
cblr-1695	553	3	business	business	NOUN
cblr-1695	553	4	law	law	PROPN
cblr-1695	553	5	review	review	NOUN
cblr-1695	554	1	[	[	X
cblr-1695	554	2	vol	vol	NOUN
cblr-1695	554	3	.	.	PUNCT
cblr-1695	554	4	2019	2019	NUM
cblr-1695	554	5	filed	file	VERB
cblr-1695	554	6	their	their	PRON
cblr-1695	554	7	registration	registration	NOUN
cblr-1695	554	8	documents	document	NOUN
cblr-1695	554	9	after	after	ADP
cblr-1695	554	10	the	the	DET
cblr-1695	554	11	july	july	PROPN
cblr-1695	554	12	2017	2017	NUM
cblr-1695	554	13	change163	change163	PROPN
cblr-1695	554	14	—	—	PUNCT
cblr-1695	554	15	through	through	ADP
cblr-1695	554	16	q2	q2	NOUN
cblr-1695	554	17	2018	2018	NUM
cblr-1695	554	18	,	,	PUNCT
cblr-1695	554	19	the	the	DET
cblr-1695	554	20	percentage	percentage	NOUN
cblr-1695	554	21	of	of	ADP
cblr-1695	554	22	non	non	ADJ
cblr-1695	554	23	-	-	ADJ
cblr-1695	554	24	egcs	egcs	ADJ
cblr-1695	554	25	is	be	AUX
cblr-1695	554	26	much	much	ADV
cblr-1695	554	27	lower	low	ADJ
cblr-1695	554	28	than	than	ADP
cblr-1695	554	29	most	most	ADJ
cblr-1695	554	30	quarters	quarter	NOUN
cblr-1695	554	31	from	from	ADP
cblr-1695	554	32	prior	prior	ADJ
cblr-1695	554	33	years	year	NOUN
cblr-1695	554	34	.	.	PUNCT
cblr-1695	555	1	non	non	ADJ
cblr-1695	555	2	-	-	ADJ
cblr-1695	555	3	egcs	egcs	ADJ
cblr-1695	555	4	made	make	VERB
cblr-1695	555	5	up	up	ADP
cblr-1695	555	6	single	single	ADJ
cblr-1695	555	7	digit	digit	NOUN
cblr-1695	555	8	percentages	percentage	NOUN
cblr-1695	555	9	(	(	PUNCT
cblr-1695	555	10	ranging	range	VERB
cblr-1695	555	11	from	from	ADP
cblr-1695	555	12	6%–9	6%–9	NUM
cblr-1695	555	13	%	%	NOUN
cblr-1695	555	14	)	)	PUNCT
cblr-1695	555	15	for	for	ADP
cblr-1695	555	16	each	each	PRON
cblr-1695	555	17	of	of	ADP
cblr-1695	555	18	the	the	DET
cblr-1695	555	19	relevant	relevant	ADJ
cblr-1695	555	20	quarters	quarter	NOUN
cblr-1695	555	21	since	since	SCONJ
cblr-1695	555	22	the	the	DET
cblr-1695	555	23	change	change	NOUN
cblr-1695	555	24	(	(	PUNCT
cblr-1695	555	25	q4	q4	PROPN
cblr-1695	555	26	2017	2017	NUM
cblr-1695	555	27	–	–	PUNCT
cblr-1695	555	28	q2	q2	NOUN
cblr-1695	555	29	2018	2018	NUM
cblr-1695	555	30	)	)	PUNCT
cblr-1695	555	31	,	,	PUNCT
cblr-1695	555	32	whereas	whereas	SCONJ
cblr-1695	555	33	such	such	ADJ
cblr-1695	555	34	issuers	issuer	NOUN
cblr-1695	555	35	made	make	VERB
cblr-1695	555	36	up	up	ADP
cblr-1695	555	37	double	double	ADJ
cblr-1695	555	38	-	-	PUNCT
cblr-1695	555	39	digit	digit	NOUN
cblr-1695	555	40	percentages	percentage	NOUN
cblr-1695	555	41	(	(	PUNCT
cblr-1695	555	42	ranging	range	VERB
cblr-1695	555	43	from	from	ADP
cblr-1695	555	44	10%–24	10%–24	NUM
cblr-1695	555	45	%	%	NOUN
cblr-1695	555	46	)	)	PUNCT
cblr-1695	555	47	for	for	ADP
cblr-1695	555	48	six	six	NUM
cblr-1695	555	49	of	of	ADP
cblr-1695	555	50	the	the	DET
cblr-1695	555	51	ten	ten	NUM
cblr-1695	555	52	quarters	quarter	NOUN
cblr-1695	555	53	before	before	ADP
cblr-1695	555	54	the	the	DET
cblr-1695	555	55	change	change	NOUN
cblr-1695	555	56	.	.	PUNCT
cblr-1695	556	1	comparing	compare	VERB
cblr-1695	556	2	quarters	quarter	NOUN
cblr-1695	556	3	individually	individually	ADV
cblr-1695	556	4	reveals	reveal	VERB
cblr-1695	556	5	a	a	DET
cblr-1695	556	6	similar	similar	ADJ
cblr-1695	556	7	trend	trend	NOUN
cblr-1695	556	8	.	.	PUNCT
cblr-1695	557	1	non	non	ADJ
cblr-1695	557	2	-	-	ADJ
cblr-1695	557	3	egcs	egcs	ADJ
cblr-1695	557	4	made	make	VERB
cblr-1695	557	5	up	up	ADP
cblr-1695	557	6	only	only	ADV
cblr-1695	557	7	6	6	NUM
cblr-1695	557	8	%	%	NOUN
cblr-1695	557	9	of	of	ADP
cblr-1695	557	10	overall	overall	ADJ
cblr-1695	557	11	ipo	ipo	NOUN
cblr-1695	557	12	activity	activity	NOUN
cblr-1695	557	13	in	in	ADP
cblr-1695	557	14	q4	q4	PROPN
cblr-1695	557	15	2017	2017	NUM
cblr-1695	557	16	,	,	PUNCT
cblr-1695	557	17	whereas	whereas	SCONJ
cblr-1695	557	18	such	such	ADJ
cblr-1695	557	19	issuers	issuer	NOUN
cblr-1695	557	20	made	make	VERB
cblr-1695	557	21	up	up	ADP
cblr-1695	557	22	15	15	NUM
cblr-1695	557	23	%	%	NOUN
cblr-1695	557	24	in	in	ADP
cblr-1695	557	25	q4	q4	PROPN
cblr-1695	557	26	2016	2016	NUM
cblr-1695	557	27	and	and	CCONJ
cblr-1695	557	28	10	10	NUM
cblr-1695	557	29	%	%	NOUN
cblr-1695	557	30	in	in	ADP
cblr-1695	557	31	q4	q4	PROPN
cblr-1695	557	32	2015	2015	NUM
cblr-1695	557	33	.	.	PUNCT
cblr-1695	558	1	q1	q1	PROPN
cblr-1695	558	2	2018	2018	NUM
cblr-1695	558	3	non	non	ADJ
cblr-1695	558	4	-	-	ADJ
cblr-1695	558	5	egc	egc	ADJ
cblr-1695	558	6	activity	activity	NOUN
cblr-1695	558	7	(	(	PUNCT
cblr-1695	558	8	7	7	NUM
cblr-1695	558	9	%	%	NOUN
cblr-1695	558	10	of	of	ADP
cblr-1695	558	11	overall	overall	ADJ
cblr-1695	558	12	ipos	ipos	NOUN
cblr-1695	558	13	)	)	PUNCT
cblr-1695	558	14	greatly	greatly	ADV
cblr-1695	558	15	underperformed	underperform	VERB
cblr-1695	558	16	as	as	SCONJ
cblr-1695	558	17	compared	compare	VERB
cblr-1695	558	18	to	to	ADP
cblr-1695	558	19	q1	q1	PROPN
cblr-1695	558	20	2017	2017	NUM
cblr-1695	558	21	(	(	PUNCT
cblr-1695	558	22	24	24	NUM
cblr-1695	558	23	%	%	NOUN
cblr-1695	558	24	)	)	PUNCT
cblr-1695	558	25	,	,	PUNCT
cblr-1695	558	26	but	but	CCONJ
cblr-1695	558	27	outperformed	outperformed	PROPN
cblr-1695	558	28	q1	q1	PROPN
cblr-1695	558	29	2016	2016	NUM
cblr-1695	558	30	(	(	PUNCT
cblr-1695	558	31	0	0	NUM
cblr-1695	558	32	%	%	NOUN
cblr-1695	558	33	)	)	PUNCT
cblr-1695	558	34	and	and	CCONJ
cblr-1695	558	35	q1	q1	PROPN
cblr-1695	558	36	2015	2015	NUM
cblr-1695	558	37	(	(	PUNCT
cblr-1695	558	38	5	5	NUM
cblr-1695	558	39	%	%	NOUN
cblr-1695	558	40	)	)	PUNCT
cblr-1695	558	41	.	.	PUNCT
cblr-1695	559	1	nonetheless	nonetheless	ADV
cblr-1695	559	2	,	,	PUNCT
cblr-1695	559	3	q2	q2	PROPN
cblr-1695	559	4	2018	2018	NUM
cblr-1695	559	5	saw	see	VERB
cblr-1695	559	6	non	non	ADJ
cblr-1695	559	7	-	-	ADJ
cblr-1695	559	8	egcs	egcs	ADJ
cblr-1695	559	9	make	make	VERB
cblr-1695	559	10	up	up	ADP
cblr-1695	559	11	a	a	DET
cblr-1695	559	12	lower	low	ADJ
cblr-1695	559	13	percentage	percentage	NOUN
cblr-1695	559	14	of	of	ADP
cblr-1695	559	15	quarterly	quarterly	ADJ
cblr-1695	559	16	ipos	ipos	NOUN
cblr-1695	559	17	(	(	PUNCT
cblr-1695	559	18	9	9	NUM
cblr-1695	559	19	%	%	NOUN
cblr-1695	559	20	)	)	PUNCT
cblr-1695	559	21	than	than	ADP
cblr-1695	559	22	each	each	PRON
cblr-1695	559	23	of	of	ADP
cblr-1695	559	24	the	the	DET
cblr-1695	559	25	three	three	NUM
cblr-1695	559	26	previous	previous	ADJ
cblr-1695	559	27	q2s	q2s	NOUN
cblr-1695	559	28	(	(	PUNCT
cblr-1695	559	29	12	12	NUM
cblr-1695	559	30	%	%	NOUN
cblr-1695	559	31	in	in	ADP
cblr-1695	559	32	2017	2017	NUM
cblr-1695	559	33	,	,	PUNCT
cblr-1695	559	34	22	22	NUM
cblr-1695	559	35	%	%	NOUN
cblr-1695	559	36	in	in	ADP
cblr-1695	559	37	2016	2016	NUM
cblr-1695	559	38	,	,	PUNCT
cblr-1695	559	39	and	and	CCONJ
cblr-1695	559	40	11	11	NUM
cblr-1695	559	41	%	%	NOUN
cblr-1695	559	42	in	in	ADP
cblr-1695	559	43	2015	2015	NUM
cblr-1695	559	44	)	)	PUNCT
cblr-1695	559	45	.	.	PUNCT
cblr-1695	560	1	therefore	therefore	ADV
cblr-1695	560	2	,	,	PUNCT
cblr-1695	560	3	although	although	SCONJ
cblr-1695	560	4	q4	q4	PROPN
cblr-1695	560	5	2017	2017	NUM
cblr-1695	560	6	–	–	PUNCT
cblr-1695	560	7	q2	q2	NOUN
cblr-1695	560	8	2018	2018	NUM
cblr-1695	560	9	saw	see	VERB
cblr-1695	560	10	more	more	ADJ
cblr-1695	560	11	total	total	ADJ
cblr-1695	560	12	ipos	ipos	NOUN
cblr-1695	560	13	than	than	ADP
cblr-1695	560	14	most	most	ADJ
cblr-1695	560	15	quarters	quarter	NOUN
cblr-1695	560	16	from	from	ADP
cblr-1695	560	17	years	year	NOUN
cblr-1695	560	18	past	past	ADV
cblr-1695	560	19	,	,	PUNCT
cblr-1695	560	20	this	this	PRON
cblr-1695	560	21	is	be	AUX
cblr-1695	560	22	likely	likely	ADV
cblr-1695	560	23	attributable	attributable	ADJ
cblr-1695	560	24	to	to	ADP
cblr-1695	560	25	macroeconomic	macroeconomic	ADJ
cblr-1695	560	26	trends	trend	NOUN
cblr-1695	560	27	since	since	SCONJ
cblr-1695	560	28	the	the	DET
cblr-1695	560	29	majority	majority	NOUN
cblr-1695	560	30	of	of	ADP
cblr-1695	560	31	these	these	DET
cblr-1695	560	32	ipos	ipos	NOUN
cblr-1695	560	33	came	come	VERB
cblr-1695	560	34	from	from	ADP
cblr-1695	560	35	egcs	egcs	PROPN
cblr-1695	560	36	,	,	PUNCT
cblr-1695	560	37	which	which	PRON
cblr-1695	560	38	were	be	AUX
cblr-1695	560	39	unaffected	unaffected	ADJ
cblr-1695	560	40	by	by	ADP
cblr-1695	560	41	the	the	DET
cblr-1695	560	42	july	july	PROPN
cblr-1695	560	43	2017	2017	NUM
cblr-1695	560	44	change	change	NOUN
cblr-1695	560	45	.	.	PUNCT
cblr-1695	561	1	following	follow	VERB
cblr-1695	561	2	from	from	ADP
cblr-1695	561	3	these	these	DET
cblr-1695	561	4	findings	finding	NOUN
cblr-1695	561	5	,	,	PUNCT
cblr-1695	561	6	using	use	VERB
cblr-1695	561	7	the	the	DET
cblr-1695	561	8	total	total	ADJ
cblr-1695	561	9	ipo	ipo	NOUN
cblr-1695	561	10	activity	activity	NOUN
cblr-1695	561	11	framework	framework	NOUN
cblr-1695	561	12	as	as	ADP
cblr-1695	561	13	a	a	DET
cblr-1695	561	14	metric	metric	NOUN
cblr-1695	561	15	of	of	ADP
cblr-1695	561	16	success	success	NOUN
cblr-1695	561	17	,	,	PUNCT
cblr-1695	561	18	the	the	DET
cblr-1695	561	19	july	july	PROPN
cblr-1695	561	20	2017	2017	NUM
cblr-1695	561	21	change	change	NOUN
cblr-1695	561	22	has	have	AUX
cblr-1695	561	23	failed	fail	VERB
cblr-1695	561	24	to	to	PART
cblr-1695	561	25	increase	increase	VERB
cblr-1695	561	26	ipo	ipo	NOUN
cblr-1695	561	27	activity	activity	NOUN
cblr-1695	561	28	.	.	PUNCT
cblr-1695	562	1	neither	neither	CCONJ
cblr-1695	562	2	the	the	DET
cblr-1695	562	3	volume	volume	NOUN
cblr-1695	562	4	nor	nor	CCONJ
cblr-1695	562	5	proportion	proportion	NOUN
cblr-1695	562	6	method	method	NOUN
cblr-1695	562	7	shows	show	VERB
cblr-1695	562	8	any	any	DET
cblr-1695	562	9	meaningful	meaningful	ADJ
cblr-1695	562	10	increase	increase	NOUN
cblr-1695	562	11	in	in	ADP
cblr-1695	562	12	nonegc	nonegc	ADJ
cblr-1695	562	13	ipos	ipos	NOUN
cblr-1695	562	14	since	since	SCONJ
cblr-1695	562	15	the	the	DET
cblr-1695	562	16	enactment	enactment	NOUN
cblr-1695	562	17	of	of	ADP
cblr-1695	562	18	the	the	DET
cblr-1695	562	19	change	change	NOUN
cblr-1695	562	20	.	.	PUNCT
cblr-1695	563	1	ii	ii	PROPN
cblr-1695	563	2	.	.	PUNCT
cblr-1695	563	3	framework	framework	PROPN
cblr-1695	563	4	b	b	NOUN
cblr-1695	563	5	:	:	PUNCT
cblr-1695	563	6	non	non	ADJ
cblr-1695	563	7	-	-	ADJ
cblr-1695	563	8	egc	egc	ADJ
cblr-1695	563	9	use	use	NOUN
cblr-1695	563	10	of	of	ADP
cblr-1695	563	11	confidential	confidential	ADJ
cblr-1695	563	12	filing	file	VERB
cblr-1695	563	13	another	another	DET
cblr-1695	563	14	valuable	valuable	ADJ
cblr-1695	563	15	metric	metric	NOUN
cblr-1695	563	16	to	to	PART
cblr-1695	563	17	analyze	analyze	VERB
cblr-1695	563	18	the	the	DET
cblr-1695	563	19	success	success	NOUN
cblr-1695	563	20	of	of	ADP
cblr-1695	563	21	the	the	DET
cblr-1695	563	22	july	july	PROPN
cblr-1695	563	23	2017	2017	NUM
cblr-1695	563	24	change	change	NOUN
cblr-1695	563	25	is	be	AUX
cblr-1695	563	26	non	non	ADJ
cblr-1695	563	27	-	-	ADJ
cblr-1695	563	28	egc	egc	ADJ
cblr-1695	563	29	use	use	NOUN
cblr-1695	563	30	of	of	ADP
cblr-1695	563	31	the	the	DET
cblr-1695	563	32	confidential	confidential	ADJ
cblr-1695	563	33	filing	filing	NOUN
cblr-1695	563	34	process	process	NOUN
cblr-1695	563	35	.	.	PUNCT
cblr-1695	564	1	this	this	DET
cblr-1695	564	2	framework	framework	NOUN
cblr-1695	564	3	compares	compare	VERB
cblr-1695	564	4	egc	egc	ADJ
cblr-1695	564	5	issuer	issuer	NOUN
cblr-1695	564	6	filings	filing	NOUN
cblr-1695	564	7	of	of	ADP
cblr-1695	564	8	confidential	confidential	ADJ
cblr-1695	564	9	drss	drss	NOUN
cblr-1695	564	10	—	—	PUNCT
cblr-1695	564	11	an	an	DET
cblr-1695	564	12	option	option	NOUN
cblr-1695	564	13	granted	grant	VERB
cblr-1695	564	14	to	to	ADP
cblr-1695	564	15	them	they	PRON
cblr-1695	564	16	by	by	ADP
cblr-1695	564	17	the	the	DET
cblr-1695	564	18	jobs	job	NOUN
cblr-1695	564	19	act	act	NOUN
cblr-1695	564	20	—	—	PUNCT
cblr-1695	564	21	to	to	ADP
cblr-1695	564	22	nonegc	nonegc	ADJ
cblr-1695	564	23	issuer	issuer	ADJ
cblr-1695	564	24	filings	filing	NOUN
cblr-1695	564	25	of	of	ADP
cblr-1695	564	26	confidential	confidential	ADJ
cblr-1695	564	27	drss	drss	NOUN
cblr-1695	564	28	,	,	PUNCT
cblr-1695	564	29	an	an	DET
cblr-1695	564	30	option	option	NOUN
cblr-1695	564	31	granted	grant	VERB
cblr-1695	564	32	to	to	ADP
cblr-1695	564	33	them	they	PRON
cblr-1695	564	34	by	by	ADP
cblr-1695	564	35	the	the	DET
cblr-1695	564	36	july	july	PROPN
cblr-1695	564	37	2017	2017	NUM
cblr-1695	564	38	change	change	NOUN
cblr-1695	564	39	.	.	PUNCT
cblr-1695	565	1	tables	table	NOUN
cblr-1695	565	2	2	2	NUM
cblr-1695	565	3	and	and	CCONJ
cblr-1695	565	4	3	3	NUM
cblr-1695	565	5	summarize	summarize	VERB
cblr-1695	565	6	these	these	DET
cblr-1695	565	7	findings	finding	NOUN
cblr-1695	565	8	.	.	PUNCT
cblr-1695	566	1	163	163	NUM
cblr-1695	566	2	see	see	VERB
cblr-1695	566	3	supra	supra	PROPN
cblr-1695	566	4	note	note	VERB
cblr-1695	566	5	158	158	NUM
cblr-1695	566	6	and	and	CCONJ
cblr-1695	566	7	accompanying	accompany	VERB
cblr-1695	566	8	text	text	NOUN
cblr-1695	566	9	.	.	PUNCT
cblr-1695	567	1	no	no	INTJ
cblr-1695	567	2	.	.	PUNCT
cblr-1695	568	1	1:305	1:305	NUM
cblr-1695	568	2	]	]	X
cblr-1695	568	3	going	go	VERB
cblr-1695	568	4	public	public	ADJ
cblr-1695	568	5	secretly	secretly	ADV
cblr-1695	568	6	341	341	NUM
cblr-1695	568	7	table	table	NOUN
cblr-1695	568	8	2	2	NUM
cblr-1695	568	9	:	:	PUNCT
cblr-1695	568	10	egc	egc	ADJ
cblr-1695	568	11	ipo	ipo	PROPN
cblr-1695	568	12	use	use	NOUN
cblr-1695	568	13	of	of	ADP
cblr-1695	568	14	confidential	confidential	ADJ
cblr-1695	568	15	filing	filing	NOUN
cblr-1695	568	16	process	process	NOUN
cblr-1695	568	17	(	(	PUNCT
cblr-1695	568	18	q1	q1	NOUN
cblr-1695	568	19	2015	2015	NUM
cblr-1695	568	20	–	–	PUNCT
cblr-1695	568	21	q2	q2	NOUN
cblr-1695	568	22	2018)164	2018)164	NOUN
cblr-1695	568	23	as	as	ADP
cblr-1695	568	24	table	table	NOUN
cblr-1695	568	25	2	2	NUM
cblr-1695	568	26	demonstrates	demonstrate	NOUN
cblr-1695	568	27	,	,	PUNCT
cblr-1695	568	28	the	the	DET
cblr-1695	568	29	overwhelming	overwhelming	ADJ
cblr-1695	568	30	majority	majority	NOUN
cblr-1695	568	31	of	of	ADP
cblr-1695	568	32	egcs	egcs	PROPN
cblr-1695	568	33	(	(	PUNCT
cblr-1695	568	34	ninety	ninety	NUM
cblr-1695	568	35	-	-	PUNCT
cblr-1695	568	36	five	five	NUM
cblr-1695	568	37	percent	percent	NOUN
cblr-1695	568	38	or	or	CCONJ
cblr-1695	568	39	more	more	ADJ
cblr-1695	568	40	in	in	ADP
cblr-1695	568	41	2015	2015	NUM
cblr-1695	568	42	,	,	PUNCT
cblr-1695	568	43	2016	2016	NUM
cblr-1695	568	44	,	,	PUNCT
cblr-1695	568	45	2017	2017	NUM
cblr-1695	568	46	,	,	PUNCT
cblr-1695	568	47	and	and	CCONJ
cblr-1695	568	48	the	the	DET
cblr-1695	568	49	first	first	ADJ
cblr-1695	568	50	half	half	NOUN
cblr-1695	568	51	of	of	ADP
cblr-1695	568	52	2018	2018	NUM
cblr-1695	568	53	)	)	PUNCT
cblr-1695	568	54	utilize	utilize	VERB
cblr-1695	568	55	the	the	DET
cblr-1695	568	56	confidential	confidential	ADJ
cblr-1695	568	57	drs	drs	ADJ
cblr-1695	568	58	process	process	NOUN
cblr-1695	568	59	prior	prior	ADV
cblr-1695	568	60	to	to	ADP
cblr-1695	568	61	filing	file	VERB
cblr-1695	568	62	a	a	DET
cblr-1695	568	63	form	form	NOUN
cblr-1695	568	64	s-1	s-1	NOUN
cblr-1695	568	65	.	.	PUNCT
cblr-1695	569	1	looking	look	VERB
cblr-1695	569	2	at	at	ADP
cblr-1695	569	3	total	total	ADJ
cblr-1695	569	4	egc	egc	PROPN
cblr-1695	569	5	ipos	ipos	PROPN
cblr-1695	569	6	between	between	ADP
cblr-1695	569	7	q1	q1	PROPN
cblr-1695	569	8	2015	2015	NUM
cblr-1695	569	9	and	and	CCONJ
cblr-1695	569	10	q2	q2	NOUN
cblr-1695	569	11	2018	2018	NUM
cblr-1695	569	12	,	,	PUNCT
cblr-1695	569	13	only	only	ADV
cblr-1695	569	14	ten	ten	NUM
cblr-1695	569	15	egc	egc	ADJ
cblr-1695	569	16	issuers	issuer	NOUN
cblr-1695	569	17	elected	elect	VERB
cblr-1695	569	18	not	not	PART
cblr-1695	569	19	to	to	PART
cblr-1695	569	20	first	first	ADV
cblr-1695	569	21	file	file	VERB
cblr-1695	569	22	a	a	DET
cblr-1695	569	23	confidential	confidential	ADJ
cblr-1695	569	24	drs	dr	NOUN
cblr-1695	569	25	(	(	PUNCT
cblr-1695	569	26	which	which	PRON
cblr-1695	569	27	amounts	amount	VERB
cblr-1695	569	28	to	to	ADP
cblr-1695	569	29	three	three	NUM
cblr-1695	569	30	percent	percent	NOUN
cblr-1695	569	31	of	of	ADP
cblr-1695	569	32	all	all	DET
cblr-1695	569	33	egc	egc	ADJ
cblr-1695	569	34	ipos	ipos	NOUN
cblr-1695	569	35	during	during	ADP
cblr-1695	569	36	this	this	DET
cblr-1695	569	37	time	time	NOUN
cblr-1695	569	38	period	period	NOUN
cblr-1695	569	39	)	)	PUNCT
cblr-1695	569	40	before	before	ADP
cblr-1695	569	41	filing	file	VERB
cblr-1695	569	42	their	their	PRON
cblr-1695	569	43	form	form	NOUN
cblr-1695	569	44	s1s	s1s	PROPN
cblr-1695	569	45	.	.	PUNCT
cblr-1695	570	1	the	the	DET
cblr-1695	570	2	near	near	ADJ
cblr-1695	570	3	universal	universal	ADJ
cblr-1695	570	4	use	use	NOUN
cblr-1695	570	5	of	of	ADP
cblr-1695	570	6	the	the	DET
cblr-1695	570	7	confidential	confidential	ADJ
cblr-1695	570	8	drs	drs	ADJ
cblr-1695	570	9	process	process	NOUN
cblr-1695	570	10	by	by	ADP
cblr-1695	570	11	egcs	egcs	NOUN
cblr-1695	570	12	during	during	ADP
cblr-1695	570	13	the	the	DET
cblr-1695	570	14	years	year	NOUN
cblr-1695	570	15	following	follow	VERB
cblr-1695	570	16	the	the	DET
cblr-1695	570	17	enactment	enactment	NOUN
cblr-1695	570	18	of	of	ADP
cblr-1695	570	19	the	the	DET
cblr-1695	570	20	jobs	job	NOUN
cblr-1695	570	21	act	act	NOUN
cblr-1695	570	22	suggests	suggest	VERB
cblr-1695	570	23	that	that	SCONJ
cblr-1695	570	24	it	it	PRON
cblr-1695	570	25	offers	offer	VERB
cblr-1695	570	26	tremendous	tremendous	ADJ
cblr-1695	570	27	benefits	benefit	NOUN
cblr-1695	570	28	to	to	ADP
cblr-1695	570	29	issuers	issuer	NOUN
cblr-1695	570	30	,	,	PUNCT
cblr-1695	570	31	such	such	ADJ
cblr-1695	570	32	as	as	ADP
cblr-1695	570	33	the	the	DET
cblr-1695	570	34	ability	ability	NOUN
cblr-1695	570	35	to	to	PART
cblr-1695	570	36	iron	iron	VERB
cblr-1695	570	37	out	out	ADP
cblr-1695	570	38	registration	registration	NOUN
cblr-1695	570	39	statement	statement	NOUN
cblr-1695	570	40	problems	problem	NOUN
cblr-1695	570	41	with	with	ADP
cblr-1695	570	42	the	the	DET
cblr-1695	570	43	sec	sec	PROPN
cblr-1695	570	44	in	in	ADP
cblr-1695	570	45	private	private	ADJ
cblr-1695	570	46	and	and	CCONJ
cblr-1695	570	47	the	the	DET
cblr-1695	570	48	opportunity	opportunity	NOUN
cblr-1695	570	49	to	to	PART
cblr-1695	570	50	not	not	PART
cblr-1695	570	51	disclose	disclose	VERB
cblr-1695	570	52	information	information	NOUN
cblr-1695	570	53	to	to	PART
cblr-1695	570	54	competitors.165	competitors.165	VERB
cblr-1695	570	55	164	164	NUM
cblr-1695	570	56	this	this	DET
cblr-1695	570	57	table	table	NOUN
cblr-1695	570	58	summarizes	summarize	NOUN
cblr-1695	570	59	information	information	NOUN
cblr-1695	570	60	included	include	VERB
cblr-1695	570	61	in	in	ADP
cblr-1695	570	62	the	the	DET
cblr-1695	570	63	data	datum	NOUN
cblr-1695	570	64	set	set	VERB
cblr-1695	570	65	created	create	VERB
cblr-1695	570	66	by	by	ADP
cblr-1695	570	67	the	the	DET
cblr-1695	570	68	author	author	NOUN
cblr-1695	570	69	.	.	PUNCT
cblr-1695	571	1	see	see	VERB
cblr-1695	571	2	patrick	patrick	PROPN
cblr-1695	571	3	j.	j.	PROPN
cblr-1695	571	4	gallagher	gallagher	PROPN
cblr-1695	571	5	,	,	PUNCT
cblr-1695	571	6	ipo	ipo	PROPN
cblr-1695	571	7	data	datum	NOUN
cblr-1695	571	8	set	set	VERB
cblr-1695	571	9	(	(	PUNCT
cblr-1695	571	10	on	on	ADP
cblr-1695	571	11	file	file	NOUN
cblr-1695	571	12	with	with	ADP
cblr-1695	571	13	the	the	DET
cblr-1695	571	14	columbia	columbia	PROPN
cblr-1695	571	15	business	business	PROPN
cblr-1695	571	16	law	law	PROPN
cblr-1695	571	17	review	review	PROPN
cblr-1695	571	18	)	)	PUNCT
cblr-1695	571	19	.	.	PUNCT
cblr-1695	572	1	165	165	NUM
cblr-1695	572	2	see	see	VERB
cblr-1695	572	3	supra	supra	PROPN
cblr-1695	572	4	notes	note	NOUN
cblr-1695	572	5	85–87	85–87	PROPN
cblr-1695	572	6	and	and	CCONJ
cblr-1695	572	7	accompanying	accompany	VERB
cblr-1695	572	8	text	text	NOUN
cblr-1695	572	9	;	;	PUNCT
cblr-1695	572	10	see	see	VERB
cblr-1695	572	11	also	also	ADV
cblr-1695	572	12	james	james	PROPN
cblr-1695	572	13	surowiecki	surowiecki	PROPN
cblr-1695	572	14	,	,	PUNCT
cblr-1695	572	15	the	the	DET
cblr-1695	572	16	virtues	virtue	NOUN
cblr-1695	572	17	of	of	ADP
cblr-1695	572	18	twitter	twitter	NOUN
cblr-1695	572	19	’s	’s	PART
cblr-1695	572	20	confidential	confidential	ADJ
cblr-1695	572	21	i.p.o	i.p.o	NOUN
cblr-1695	572	22	.	.	PUNCT
cblr-1695	573	1	filing	filing	NOUN
cblr-1695	573	2	,	,	PUNCT
cblr-1695	573	3	new	new	ADJ
cblr-1695	573	4	yorker	yorker	PROPN
cblr-1695	573	5	(	(	PUNCT
cblr-1695	573	6	sept	sept	PROPN
cblr-1695	573	7	.	.	PROPN
cblr-1695	573	8	13	13	NUM
cblr-1695	573	9	,	,	PUNCT
cblr-1695	573	10	2013	2013	NUM
cblr-1695	573	11	)	)	PUNCT
cblr-1695	573	12	,	,	PUNCT
cblr-1695	573	13	https://www.newyorker.com/business/currency/the-virtu	https://www.newyorker.com/business/currency/the-virtu	PROPN
cblr-1695	573	14	es	es	VERB
cblr-1695	573	15	-	-	PUNCT
cblr-1695	573	16	of	of	ADP
cblr-1695	573	17	-	-	PUNCT
cblr-1695	573	18	twitters	twitter	NOUN
cblr-1695	573	19	-	-	PUNCT
cblr-1695	573	20	confidential	confidential	ADJ
cblr-1695	573	21	-	-	PUNCT
cblr-1695	573	22	i	i	NOUN
cblr-1695	573	23	-	-	PUNCT
cblr-1695	573	24	p	p	PROPN
cblr-1695	573	25	-	-	PUNCT
cblr-1695	573	26	o	o	NOUN
cblr-1695	573	27	-	-	NOUN
cblr-1695	573	28	filing	filing	NOUN
cblr-1695	573	29	[	[	X
cblr-1695	573	30	https://perma.cc/x4fq-mzhc	https://perma.cc/x4fq-mzhc	NOUN
cblr-1695	573	31	]	]	X
cblr-1695	573	32	342	342	NUM
cblr-1695	573	33	columbia	columbia	PROPN
cblr-1695	573	34	business	business	NOUN
cblr-1695	573	35	law	law	PROPN
cblr-1695	573	36	review	review	NOUN
cblr-1695	573	37	[	[	X
cblr-1695	573	38	vol	vol	NOUN
cblr-1695	573	39	.	.	NOUN
cblr-1695	573	40	2019	2019	NUM
cblr-1695	573	41	table	table	NOUN
cblr-1695	573	42	3	3	NUM
cblr-1695	573	43	:	:	PUNCT
cblr-1695	573	44	non	non	ADJ
cblr-1695	573	45	-	-	ADJ
cblr-1695	573	46	egc	egc	ADJ
cblr-1695	573	47	ipo	ipo	NOUN
cblr-1695	573	48	use	use	NOUN
cblr-1695	573	49	of	of	ADP
cblr-1695	573	50	confidential	confidential	ADJ
cblr-1695	573	51	filing	filing	NOUN
cblr-1695	573	52	process	process	NOUN
cblr-1695	573	53	(	(	PUNCT
cblr-1695	573	54	q1	q1	NOUN
cblr-1695	573	55	2015	2015	NUM
cblr-1695	573	56	–	–	PUNCT
cblr-1695	573	57	q2	q2	NOUN
cblr-1695	573	58	2018)166	2018)166	PROPN
cblr-1695	573	59	as	as	SCONJ
cblr-1695	573	60	seen	see	VERB
cblr-1695	573	61	in	in	ADP
cblr-1695	573	62	table	table	NOUN
cblr-1695	573	63	3	3	NUM
cblr-1695	573	64	,	,	PUNCT
cblr-1695	573	65	non	non	ADJ
cblr-1695	573	66	-	-	ADJ
cblr-1695	573	67	egcs	egcs	ADJ
cblr-1695	573	68	have	have	AUX
cblr-1695	573	69	responded	respond	VERB
cblr-1695	573	70	similarly	similarly	ADV
cblr-1695	573	71	to	to	PART
cblr-1695	573	72	egcs	egcs	VERB
cblr-1695	573	73	in	in	ADP
cblr-1695	573	74	the	the	DET
cblr-1695	573	75	wake	wake	NOUN
cblr-1695	573	76	of	of	ADP
cblr-1695	573	77	the	the	DET
cblr-1695	573	78	july	july	PROPN
cblr-1695	573	79	2017	2017	NUM
cblr-1695	573	80	change	change	NOUN
cblr-1695	573	81	.	.	PUNCT
cblr-1695	574	1	there	there	PRON
cblr-1695	574	2	have	have	AUX
cblr-1695	574	3	been	be	AUX
cblr-1695	574	4	eight	eight	NUM
cblr-1695	574	5	non	non	ADJ
cblr-1695	574	6	-	-	ADJ
cblr-1695	574	7	egcs	egcs	ADJ
cblr-1695	574	8	that	that	PRON
cblr-1695	574	9	filed	file	VERB
cblr-1695	574	10	registration	registration	NOUN
cblr-1695	574	11	documents	document	NOUN
cblr-1695	574	12	and	and	CCONJ
cblr-1695	574	13	went	go	VERB
cblr-1695	574	14	public	public	ADJ
cblr-1695	574	15	after	after	ADP
cblr-1695	574	16	july	july	PROPN
cblr-1695	574	17	10	10	NUM
cblr-1695	574	18	,	,	PUNCT
cblr-1695	574	19	2017.167	2017.167	NUM
cblr-1695	574	20	all	all	PRON
cblr-1695	574	21	but	but	SCONJ
cblr-1695	574	22	one	one	NUM
cblr-1695	574	23	issuer	issuer	NOUN
cblr-1695	574	24	—	—	PUNCT
cblr-1695	574	25	axa	axa	NOUN
cblr-1695	574	26	(	(	PUNCT
cblr-1695	574	27	detailing	detail	VERB
cblr-1695	574	28	the	the	DET
cblr-1695	574	29	benefits	benefit	NOUN
cblr-1695	574	30	of	of	ADP
cblr-1695	574	31	the	the	DET
cblr-1695	574	32	confidential	confidential	ADJ
cblr-1695	574	33	drs	drs	ADJ
cblr-1695	574	34	process	process	NOUN
cblr-1695	574	35	in	in	ADP
cblr-1695	574	36	the	the	DET
cblr-1695	574	37	context	context	NOUN
cblr-1695	574	38	of	of	ADP
cblr-1695	574	39	twitter	twitter	NOUN
cblr-1695	574	40	’s	’s	PART
cblr-1695	574	41	2013	2013	NUM
cblr-1695	574	42	ipo	ipo	NOUN
cblr-1695	574	43	)	)	PUNCT
cblr-1695	574	44	.	.	PUNCT
cblr-1695	575	1	166	166	NUM
cblr-1695	575	2	this	this	DET
cblr-1695	575	3	table	table	NOUN
cblr-1695	575	4	summarizes	summarize	NOUN
cblr-1695	575	5	information	information	NOUN
cblr-1695	575	6	included	include	VERB
cblr-1695	575	7	in	in	ADP
cblr-1695	575	8	the	the	DET
cblr-1695	575	9	data	datum	NOUN
cblr-1695	575	10	set	set	VERB
cblr-1695	575	11	created	create	VERB
cblr-1695	575	12	by	by	ADP
cblr-1695	575	13	the	the	DET
cblr-1695	575	14	author	author	NOUN
cblr-1695	575	15	.	.	PUNCT
cblr-1695	576	1	see	see	VERB
cblr-1695	576	2	patrick	patrick	PROPN
cblr-1695	576	3	j.	j.	PROPN
cblr-1695	576	4	gallagher	gallagher	PROPN
cblr-1695	576	5	,	,	PUNCT
cblr-1695	576	6	ipo	ipo	PROPN
cblr-1695	576	7	data	datum	NOUN
cblr-1695	576	8	set	set	VERB
cblr-1695	576	9	(	(	PUNCT
cblr-1695	576	10	on	on	ADP
cblr-1695	576	11	file	file	NOUN
cblr-1695	576	12	with	with	ADP
cblr-1695	576	13	the	the	DET
cblr-1695	576	14	columbia	columbia	PROPN
cblr-1695	576	15	business	business	PROPN
cblr-1695	576	16	law	law	PROPN
cblr-1695	576	17	review	review	PROPN
cblr-1695	576	18	)	)	PUNCT
cblr-1695	576	19	.	.	PUNCT
cblr-1695	577	1	167	167	NUM
cblr-1695	577	2	see	see	VERB
cblr-1695	577	3	supra	supra	PROPN
cblr-1695	577	4	note	note	PROPN
cblr-1695	577	5	158	158	NUM
cblr-1695	577	6	and	and	CCONJ
cblr-1695	577	7	accompanying	accompany	VERB
cblr-1695	577	8	text	text	NOUN
cblr-1695	577	9	.	.	PUNCT
cblr-1695	578	1	the	the	DET
cblr-1695	578	2	q3	q3	PROPN
cblr-1695	578	3	non	non	ADJ
cblr-1695	578	4	-	-	ADJ
cblr-1695	578	5	egc	egc	ADJ
cblr-1695	578	6	ipo	ipo	PROPN
cblr-1695	578	7	issuer	issuer	NOUN
cblr-1695	578	8	,	,	PUNCT
cblr-1695	578	9	pq	pq	PROPN
cblr-1695	578	10	group	group	PROPN
cblr-1695	578	11	holdings	holdings	PROPN
cblr-1695	578	12	inc	inc	PROPN
cblr-1695	578	13	.	.	PUNCT
cblr-1695	579	1	(	(	PUNCT
cblr-1695	579	2	nyse	nyse	PROPN
cblr-1695	579	3	ticker	ticker	PROPN
cblr-1695	579	4	symbol	symbol	NOUN
cblr-1695	579	5	:	:	PUNCT
cblr-1695	579	6	pqg	pqg	PROPN
cblr-1695	579	7	)	)	PUNCT
cblr-1695	579	8	,	,	PUNCT
cblr-1695	579	9	initially	initially	ADV
cblr-1695	579	10	filed	file	VERB
cblr-1695	579	11	its	its	PRON
cblr-1695	579	12	form	form	NOUN
cblr-1695	579	13	s-1	s-1	NOUN
cblr-1695	579	14	on	on	ADP
cblr-1695	579	15	june	june	PROPN
cblr-1695	579	16	9	9	NUM
cblr-1695	579	17	,	,	PUNCT
cblr-1695	579	18	2017	2017	NUM
cblr-1695	579	19	and	and	CCONJ
cblr-1695	579	20	,	,	PUNCT
cblr-1695	579	21	therefore	therefore	ADV
cblr-1695	579	22	,	,	PUNCT
cblr-1695	579	23	could	could	AUX
cblr-1695	579	24	not	not	PART
cblr-1695	579	25	have	have	AUX
cblr-1695	579	26	participated	participate	VERB
cblr-1695	579	27	in	in	ADP
cblr-1695	579	28	the	the	DET
cblr-1695	579	29	confidential	confidential	ADJ
cblr-1695	579	30	review	review	NOUN
cblr-1695	579	31	process	process	NOUN
cblr-1695	579	32	as	as	SCONJ
cblr-1695	579	33	the	the	DET
cblr-1695	579	34	july	july	PROPN
cblr-1695	579	35	2017	2017	NUM
cblr-1695	579	36	change	change	NOUN
cblr-1695	579	37	had	have	AUX
cblr-1695	579	38	not	not	PART
cblr-1695	579	39	been	be	AUX
cblr-1695	579	40	announced	announce	VERB
cblr-1695	579	41	or	or	CCONJ
cblr-1695	579	42	enacted	enact	VERB
cblr-1695	579	43	yet	yet	ADV
cblr-1695	579	44	.	.	PUNCT
cblr-1695	580	1	nonetheless	nonetheless	ADV
cblr-1695	580	2	,	,	PUNCT
cblr-1695	580	3	because	because	SCONJ
cblr-1695	580	4	the	the	DET
cblr-1695	580	5	company	company	NOUN
cblr-1695	580	6	did	do	AUX
cblr-1695	580	7	not	not	PART
cblr-1695	580	8	go	go	VERB
cblr-1695	580	9	public	public	ADJ
cblr-1695	580	10	until	until	SCONJ
cblr-1695	580	11	after	after	SCONJ
cblr-1695	580	12	the	the	DET
cblr-1695	580	13	july	july	PROPN
cblr-1695	580	14	2017	2017	NUM
cblr-1695	580	15	change	change	NOUN
cblr-1695	580	16	took	take	VERB
cblr-1695	580	17	effect	effect	NOUN
cblr-1695	580	18	(	(	PUNCT
cblr-1695	580	19	the	the	DET
cblr-1695	580	20	issue	issue	NOUN
cblr-1695	580	21	date	date	NOUN
cblr-1695	580	22	was	be	AUX
cblr-1695	580	23	september	september	PROPN
cblr-1695	580	24	28	28	NUM
cblr-1695	580	25	,	,	PUNCT
cblr-1695	580	26	2017	2017	NUM
cblr-1695	580	27	)	)	PUNCT
cblr-1695	580	28	,	,	PUNCT
cblr-1695	580	29	the	the	DET
cblr-1695	580	30	company	company	NOUN
cblr-1695	580	31	technically	technically	ADV
cblr-1695	580	32	could	could	AUX
cblr-1695	580	33	have	have	AUX
cblr-1695	580	34	withdrawn	withdraw	VERB
cblr-1695	580	35	its	its	PRON
cblr-1695	580	36	june	june	PROPN
cblr-1695	580	37	9	9	NUM
cblr-1695	580	38	,	,	PUNCT
cblr-1695	580	39	2017	2017	NUM
cblr-1695	580	40	form	form	NOUN
cblr-1695	580	41	s-1	s-1	NOUN
cblr-1695	580	42	and	and	CCONJ
cblr-1695	580	43	elected	elect	VERB
cblr-1695	580	44	to	to	PART
cblr-1695	580	45	confidentially	confidentially	ADV
cblr-1695	580	46	file	file	VERB
cblr-1695	580	47	a	a	DET
cblr-1695	580	48	drs	dr	NOUN
cblr-1695	580	49	on	on	ADP
cblr-1695	580	50	july	july	PROPN
cblr-1695	580	51	10	10	NUM
cblr-1695	580	52	,	,	PUNCT
cblr-1695	580	53	2017	2017	NUM
cblr-1695	580	54	or	or	CCONJ
cblr-1695	580	55	after	after	ADV
cblr-1695	580	56	.	.	PUNCT
cblr-1695	581	1	however	however	ADV
cblr-1695	581	2	,	,	PUNCT
cblr-1695	581	3	this	this	PRON
cblr-1695	581	4	likely	likely	ADV
cblr-1695	581	5	did	do	AUX
cblr-1695	581	6	not	not	PART
cblr-1695	581	7	make	make	VERB
cblr-1695	581	8	much	much	ADJ
cblr-1695	581	9	strategic	strategic	ADJ
cblr-1695	581	10	business	business	NOUN
cblr-1695	581	11	sense	sense	NOUN
cblr-1695	581	12	since	since	SCONJ
cblr-1695	581	13	—	—	PUNCT
cblr-1695	581	14	by	by	ADP
cblr-1695	581	15	filing	file	VERB
cblr-1695	581	16	the	the	DET
cblr-1695	581	17	june	june	PROPN
cblr-1695	581	18	9	9	NUM
cblr-1695	581	19	,	,	PUNCT
cblr-1695	581	20	2017	2017	NUM
cblr-1695	581	21	form	form	NOUN
cblr-1695	581	22	s-1	s-1	NOUN
cblr-1695	581	23	—	—	PUNCT
cblr-1695	581	24	the	the	DET
cblr-1695	581	25	information	information	NOUN
cblr-1695	581	26	that	that	PRON
cblr-1695	581	27	would	would	AUX
cblr-1695	581	28	have	have	AUX
cblr-1695	581	29	been	be	AUX
cblr-1695	581	30	included	include	VERB
cblr-1695	581	31	in	in	ADP
cblr-1695	581	32	the	the	DET
cblr-1695	581	33	confidential	confidential	ADJ
cblr-1695	581	34	drs	dr	NOUN
cblr-1695	581	35	was	be	AUX
cblr-1695	581	36	already	already	ADV
cblr-1695	581	37	,	,	PUNCT
cblr-1695	581	38	and	and	CCONJ
cblr-1695	581	39	would	would	AUX
cblr-1695	581	40	remain	remain	VERB
cblr-1695	581	41	,	,	PUNCT
cblr-1695	581	42	public	public	ADJ
cblr-1695	581	43	.	.	PUNCT
cblr-1695	582	1	no	no	INTJ
cblr-1695	582	2	.	.	PUNCT
cblr-1695	583	1	1:305	1:305	NUM
cblr-1695	583	2	]	]	X
cblr-1695	583	3	going	go	VERB
cblr-1695	583	4	public	public	ADJ
cblr-1695	583	5	secretly	secretly	ADV
cblr-1695	583	6	343	343	NUM
cblr-1695	583	7	equitable	equitable	ADJ
cblr-1695	583	8	holdings	holding	NOUN
cblr-1695	583	9	(	(	PUNCT
cblr-1695	583	10	nyse	nyse	NOUN
cblr-1695	583	11	ticker	ticker	NOUN
cblr-1695	583	12	symbol	symbol	NOUN
cblr-1695	583	13	:	:	PUNCT
cblr-1695	583	14	eqh)—have	eqh)—have	AUX
cblr-1695	583	15	elected	elect	VERB
cblr-1695	583	16	to	to	PART
cblr-1695	583	17	file	file	VERB
cblr-1695	583	18	a	a	DET
cblr-1695	583	19	confidential	confidential	ADJ
cblr-1695	583	20	drs	dr	NOUN
cblr-1695	583	21	.	.	PUNCT
cblr-1695	584	1	this	this	PRON
cblr-1695	584	2	suggests	suggest	VERB
cblr-1695	584	3	that	that	SCONJ
cblr-1695	584	4	the	the	DET
cblr-1695	584	5	confidential	confidential	ADJ
cblr-1695	584	6	submission	submission	NOUN
cblr-1695	584	7	process	process	NOUN
cblr-1695	584	8	offers	offer	VERB
cblr-1695	584	9	similar	similar	ADJ
cblr-1695	584	10	benefits	benefit	NOUN
cblr-1695	584	11	to	to	ADP
cblr-1695	584	12	nonegcs	nonegcs	ADJ
cblr-1695	584	13	and	and	CCONJ
cblr-1695	584	14	these	these	DET
cblr-1695	584	15	firms	firm	NOUN
cblr-1695	584	16	will	will	AUX
cblr-1695	584	17	continue	continue	VERB
cblr-1695	584	18	to	to	PART
cblr-1695	584	19	use	use	VERB
cblr-1695	584	20	this	this	DET
cblr-1695	584	21	privilege	privilege	NOUN
cblr-1695	584	22	,	,	PUNCT
cblr-1695	584	23	in	in	ADP
cblr-1695	584	24	line	line	NOUN
cblr-1695	584	25	with	with	ADP
cblr-1695	584	26	their	their	PRON
cblr-1695	584	27	egc	egc	ADJ
cblr-1695	584	28	counterparts	counterpart	NOUN
cblr-1695	584	29	.	.	PUNCT
cblr-1695	585	1	furthermore	furthermore	ADV
cblr-1695	585	2	,	,	PUNCT
cblr-1695	585	3	the	the	DET
cblr-1695	585	4	data	datum	NOUN
cblr-1695	585	5	may	may	AUX
cblr-1695	585	6	underestimate	underestimate	VERB
cblr-1695	585	7	the	the	DET
cblr-1695	585	8	number	number	NOUN
cblr-1695	585	9	of	of	ADP
cblr-1695	585	10	non	non	ADJ
cblr-1695	585	11	-	-	ADJ
cblr-1695	585	12	egcs	egcs	ADJ
cblr-1695	585	13	who	who	PRON
cblr-1695	585	14	have	have	AUX
cblr-1695	585	15	confidentially	confidentially	ADV
cblr-1695	585	16	filed	file	VERB
cblr-1695	585	17	.	.	PUNCT
cblr-1695	586	1	a	a	DET
cblr-1695	586	2	major	major	ADJ
cblr-1695	586	3	benefit	benefit	NOUN
cblr-1695	586	4	of	of	ADP
cblr-1695	586	5	the	the	DET
cblr-1695	586	6	confidential	confidential	ADJ
cblr-1695	586	7	submission	submission	NOUN
cblr-1695	586	8	process	process	NOUN
cblr-1695	586	9	is	be	AUX
cblr-1695	586	10	the	the	DET
cblr-1695	586	11	fact	fact	NOUN
cblr-1695	586	12	that	that	SCONJ
cblr-1695	586	13	it	it	PRON
cblr-1695	586	14	allows	allow	VERB
cblr-1695	586	15	an	an	DET
cblr-1695	586	16	issuer	issuer	NOUN
cblr-1695	586	17	to	to	PART
cblr-1695	586	18	have	have	VERB
cblr-1695	586	19	more	more	ADJ
cblr-1695	586	20	control	control	NOUN
cblr-1695	586	21	over	over	ADP
cblr-1695	586	22	the	the	DET
cblr-1695	586	23	timing	timing	NOUN
cblr-1695	586	24	of	of	ADP
cblr-1695	586	25	its	its	PRON
cblr-1695	586	26	ipo	ipo	NOUN
cblr-1695	586	27	announcement	announcement	NOUN
cblr-1695	586	28	,	,	PUNCT
cblr-1695	586	29	which	which	PRON
cblr-1695	586	30	scholars	scholar	NOUN
cblr-1695	586	31	note	note	VERB
cblr-1695	586	32	is	be	AUX
cblr-1695	586	33	a	a	DET
cblr-1695	586	34	crucial	crucial	ADJ
cblr-1695	586	35	component	component	NOUN
cblr-1695	586	36	of	of	ADP
cblr-1695	586	37	ipo	ipo	PROPN
cblr-1695	586	38	success.168	success.168	PROPN
cblr-1695	586	39	therefore	therefore	ADV
cblr-1695	586	40	,	,	PUNCT
cblr-1695	586	41	the	the	DET
cblr-1695	586	42	use	use	NOUN
cblr-1695	586	43	of	of	ADP
cblr-1695	586	44	this	this	DET
cblr-1695	586	45	process	process	NOUN
cblr-1695	586	46	does	do	AUX
cblr-1695	586	47	not	not	PART
cblr-1695	586	48	necessarily	necessarily	ADV
cblr-1695	586	49	equate	equate	VERB
cblr-1695	586	50	with	with	ADP
cblr-1695	586	51	an	an	DET
cblr-1695	586	52	immediate	immediate	ADJ
cblr-1695	586	53	increase	increase	NOUN
cblr-1695	586	54	in	in	ADP
cblr-1695	586	55	capital	capital	NOUN
cblr-1695	586	56	markets	market	NOUN
cblr-1695	586	57	activity	activity	NOUN
cblr-1695	586	58	.	.	PUNCT
cblr-1695	587	1	instead	instead	ADV
cblr-1695	587	2	,	,	PUNCT
cblr-1695	587	3	it	it	PRON
cblr-1695	587	4	may	may	AUX
cblr-1695	587	5	encourage	encourage	VERB
cblr-1695	587	6	companies	company	NOUN
cblr-1695	587	7	to	to	PART
cblr-1695	587	8	remain	remain	VERB
cblr-1695	587	9	private	private	ADJ
cblr-1695	587	10	for	for	ADP
cblr-1695	587	11	longer	long	ADJ
cblr-1695	587	12	than	than	SCONJ
cblr-1695	587	13	they	they	PRON
cblr-1695	587	14	would	would	AUX
cblr-1695	587	15	have	have	VERB
cblr-1695	587	16	in	in	ADP
cblr-1695	587	17	a	a	DET
cblr-1695	587	18	world	world	NOUN
cblr-1695	587	19	without	without	ADP
cblr-1695	587	20	the	the	DET
cblr-1695	587	21	confidential	confidential	ADJ
cblr-1695	587	22	drs	drs	ADJ
cblr-1695	587	23	option.169	option.169	NOUN
cblr-1695	587	24	although	although	SCONJ
cblr-1695	587	25	some	some	DET
cblr-1695	587	26	companies	company	NOUN
cblr-1695	587	27	file	file	VERB
cblr-1695	587	28	a	a	DET
cblr-1695	587	29	form	form	NOUN
cblr-1695	587	30	s-1	s-1	NOUN
cblr-1695	587	31	quickly	quickly	ADV
cblr-1695	587	32	after	after	ADP
cblr-1695	587	33	first	first	ADJ
cblr-1695	587	34	filing	file	VERB
cblr-1695	587	35	a	a	DET
cblr-1695	587	36	confidential	confidential	ADJ
cblr-1695	587	37	drs	dr	NOUN
cblr-1695	587	38	,	,	PUNCT
cblr-1695	587	39	others	other	NOUN
cblr-1695	587	40	wait	wait	VERB
cblr-1695	587	41	years	year	NOUN
cblr-1695	587	42	.	.	PUNCT
cblr-1695	588	1	for	for	ADP
cblr-1695	588	2	example	example	NOUN
cblr-1695	588	3	,	,	PUNCT
cblr-1695	588	4	axsome	axsome	ADJ
cblr-1695	588	5	therapeutics	therapeutic	NOUN
cblr-1695	588	6	(	(	PUNCT
cblr-1695	588	7	nasdaq	nasdaq	PROPN
cblr-1695	588	8	ticker	ticker	NOUN
cblr-1695	588	9	symbol	symbol	NOUN
cblr-1695	588	10	:	:	PUNCT
cblr-1695	588	11	axsm	axsm	PROPN
cblr-1695	588	12	)	)	PUNCT
cblr-1695	588	13	filed	file	VERB
cblr-1695	588	14	its	its	PRON
cblr-1695	588	15	confidential	confidential	ADJ
cblr-1695	588	16	drs	dr	NOUN
cblr-1695	588	17	on	on	ADP
cblr-1695	588	18	august	august	PROPN
cblr-1695	588	19	25	25	NUM
cblr-1695	588	20	,	,	PUNCT
cblr-1695	588	21	2015	2015	NUM
cblr-1695	588	22	and	and	CCONJ
cblr-1695	588	23	its	its	PRON
cblr-1695	588	24	public	public	ADJ
cblr-1695	588	25	form	form	NOUN
cblr-1695	588	26	s-1	s-1	NOUN
cblr-1695	588	27	less	less	ADJ
cblr-1695	588	28	than	than	ADP
cblr-1695	588	29	two	two	NUM
cblr-1695	588	30	months	month	NOUN
cblr-1695	588	31	later	later	ADV
cblr-1695	588	32	,	,	PUNCT
cblr-1695	588	33	on	on	ADP
cblr-1695	588	34	october	october	PROPN
cblr-1695	588	35	13	13	NUM
cblr-1695	588	36	,	,	PUNCT
cblr-1695	588	37	2015	2015	NUM
cblr-1695	588	38	.	.	PUNCT
cblr-1695	589	1	on	on	ADP
cblr-1695	589	2	the	the	DET
cblr-1695	589	3	other	other	ADJ
cblr-1695	589	4	hand	hand	NOUN
cblr-1695	589	5	,	,	PUNCT
cblr-1695	589	6	rhythm	rhythm	PROPN
cblr-1695	589	7	pharmaceuticals	pharmaceutical	NOUN
cblr-1695	589	8	,	,	PUNCT
cblr-1695	589	9	inc	inc	PROPN
cblr-1695	589	10	.	.	PROPN
cblr-1695	590	1	(	(	PUNCT
cblr-1695	590	2	nasdaq	nasdaq	PROPN
cblr-1695	590	3	ticker	ticker	NOUN
cblr-1695	590	4	symbol	symbol	NOUN
cblr-1695	590	5	:	:	PUNCT
cblr-1695	590	6	rytm	rytm	PROPN
cblr-1695	590	7	)	)	PUNCT
cblr-1695	590	8	filed	file	VERB
cblr-1695	590	9	its	its	PRON
cblr-1695	590	10	confidential	confidential	ADJ
cblr-1695	590	11	drs	dr	NOUN
cblr-1695	590	12	on	on	ADP
cblr-1695	590	13	october	october	PROPN
cblr-1695	590	14	13	13	NUM
cblr-1695	590	15	,	,	PUNCT
cblr-1695	590	16	2015	2015	NUM
cblr-1695	590	17	and	and	CCONJ
cblr-1695	590	18	its	its	PRON
cblr-1695	590	19	public	public	ADJ
cblr-1695	590	20	form	form	NOUN
cblr-1695	590	21	s-1	s-1	NOUN
cblr-1695	590	22	nearly	nearly	ADV
cblr-1695	590	23	two	two	NUM
cblr-1695	590	24	years	year	NOUN
cblr-1695	590	25	later	later	ADV
cblr-1695	590	26	on	on	ADP
cblr-1695	590	27	september	september	PROPN
cblr-1695	590	28	5	5	NUM
cblr-1695	590	29	,	,	PUNCT
cblr-1695	590	30	2017	2017	NUM
cblr-1695	590	31	.	.	PUNCT
cblr-1695	591	1	such	such	ADJ
cblr-1695	591	2	flexibility	flexibility	NOUN
cblr-1695	591	3	in	in	ADP
cblr-1695	591	4	timing	timing	NOUN
cblr-1695	591	5	has	have	AUX
cblr-1695	591	6	been	be	AUX
cblr-1695	591	7	echoed	echo	VERB
cblr-1695	591	8	by	by	ADP
cblr-1695	591	9	practitioners	practitioner	NOUN
cblr-1695	591	10	as	as	ADP
cblr-1695	591	11	a	a	DET
cblr-1695	591	12	potential	potential	ADJ
cblr-1695	591	13	result	result	NOUN
cblr-1695	591	14	of	of	ADP
cblr-1695	591	15	the	the	DET
cblr-1695	591	16	july	july	PROPN
cblr-1695	591	17	2017	2017	NUM
cblr-1695	591	18	change.170	change.170	ADV
cblr-1695	591	19	this	this	PRON
cblr-1695	591	20	reveals	reveal	VERB
cblr-1695	591	21	one	one	NUM
cblr-1695	591	22	of	of	ADP
cblr-1695	591	23	the	the	DET
cblr-1695	591	24	major	major	ADJ
cblr-1695	591	25	problems	problem	NOUN
cblr-1695	591	26	in	in	ADP
cblr-1695	591	27	assessing	assess	VERB
cblr-1695	591	28	the	the	DET
cblr-1695	591	29	success	success	NOUN
cblr-1695	591	30	of	of	ADP
cblr-1695	591	31	the	the	DET
cblr-1695	591	32	july	july	PROPN
cblr-1695	591	33	2017	2017	NUM
cblr-1695	591	34	change	change	NOUN
cblr-1695	591	35	.	.	PUNCT
cblr-1695	592	1	if	if	SCONJ
cblr-1695	592	2	the	the	DET
cblr-1695	592	3	change	change	NOUN
cblr-1695	592	4	eventually	eventually	ADV
cblr-1695	592	5	leads	lead	VERB
cblr-1695	592	6	to	to	ADP
cblr-1695	592	7	more	more	ADJ
cblr-1695	592	8	ipos	ipos	NOUN
cblr-1695	592	9	—	—	PUNCT
cblr-1695	592	10	which	which	PRON
cblr-1695	592	11	is	be	AUX
cblr-1695	592	12	doubtful	doubtful	ADJ
cblr-1695	592	13	given	give	VERB
cblr-1695	592	14	the	the	DET
cblr-1695	592	15	lack	lack	NOUN
cblr-1695	592	16	of	of	ADP
cblr-1695	592	17	consensus	consensus	NOUN
cblr-1695	592	18	around	around	ADP
cblr-1695	592	19	the	the	DET
cblr-1695	592	20	success	success	NOUN
cblr-1695	592	21	of	of	ADP
cblr-1695	592	22	the	the	DET
cblr-1695	592	23	jobs	job	NOUN
cblr-1695	592	24	act	act	VERB
cblr-1695	592	25	in	in	ADP
cblr-1695	592	26	increasing	increase	VERB
cblr-1695	592	27	168	168	NUM
cblr-1695	592	28	see	see	VERB
cblr-1695	592	29	honigsberg	honigsberg	PROPN
cblr-1695	592	30	et	et	PROPN
cblr-1695	592	31	al	al	PROPN
cblr-1695	592	32	.	.	PROPN
cblr-1695	592	33	,	,	PUNCT
cblr-1695	592	34	supra	supra	PROPN
cblr-1695	592	35	note	note	NOUN
cblr-1695	592	36	115	115	NUM
cblr-1695	592	37	,	,	PUNCT
cblr-1695	592	38	at	at	ADP
cblr-1695	592	39	306	306	NUM
cblr-1695	592	40	.	.	PUNCT
cblr-1695	593	1	169	169	NUM
cblr-1695	593	2	see	see	VERB
cblr-1695	593	3	supra	supra	PROPN
cblr-1695	593	4	notes	note	VERB
cblr-1695	593	5	131–34	131–34	PROPN
cblr-1695	593	6	and	and	CCONJ
cblr-1695	593	7	accompanying	accompany	VERB
cblr-1695	593	8	text	text	NOUN
cblr-1695	593	9	.	.	PUNCT
cblr-1695	594	1	170	170	NUM
cblr-1695	594	2	sec	sec	PROPN
cblr-1695	594	3	to	to	PART
cblr-1695	594	4	allow	allow	VERB
cblr-1695	594	5	,	,	PUNCT
cblr-1695	594	6	supra	supra	PROPN
cblr-1695	594	7	note	note	NOUN
cblr-1695	594	8	105	105	NUM
cblr-1695	594	9	(	(	PUNCT
cblr-1695	594	10	quoting	quote	VERB
cblr-1695	594	11	michael	michael	PROPN
cblr-1695	594	12	zeidel	zeidel	PROPN
cblr-1695	594	13	,	,	PUNCT
cblr-1695	594	14	a	a	DET
cblr-1695	594	15	partner	partner	NOUN
cblr-1695	594	16	in	in	ADP
cblr-1695	594	17	the	the	DET
cblr-1695	594	18	corporate	corporate	ADJ
cblr-1695	594	19	finance	finance	NOUN
cblr-1695	594	20	department	department	NOUN
cblr-1695	594	21	at	at	ADP
cblr-1695	594	22	skadden	skadden	ADJ
cblr-1695	594	23	,	,	PUNCT
cblr-1695	594	24	arps	arp	NOUN
cblr-1695	594	25	,	,	PUNCT
cblr-1695	594	26	slate	slate	NOUN
cblr-1695	594	27	,	,	PUNCT
cblr-1695	594	28	meagher	meagher	PROPN
cblr-1695	594	29	&	&	CCONJ
cblr-1695	594	30	flom	flom	PROPN
cblr-1695	594	31	llp	llp	PROPN
cblr-1695	594	32	,	,	PUNCT
cblr-1695	594	33	saying	say	VERB
cblr-1695	594	34	“	"	PUNCT
cblr-1695	594	35	if	if	SCONJ
cblr-1695	594	36	you	you	PRON
cblr-1695	594	37	are	be	AUX
cblr-1695	594	38	a	a	DET
cblr-1695	594	39	billion	billion	NUM
cblr-1695	594	40	dollar	dollar	NOUN
cblr-1695	594	41	company	company	NOUN
cblr-1695	594	42	and	and	CCONJ
cblr-1695	594	43	may	may	AUX
cblr-1695	594	44	go	go	VERB
cblr-1695	594	45	public	public	ADJ
cblr-1695	594	46	,	,	PUNCT
cblr-1695	594	47	i	i	PRON
cblr-1695	594	48	do	do	AUX
cblr-1695	594	49	n’t	not	PART
cblr-1695	594	50	think	think	VERB
cblr-1695	594	51	the	the	DET
cblr-1695	594	52	confidential	confidential	ADJ
cblr-1695	594	53	filing	filing	NOUN
cblr-1695	594	54	is	be	AUX
cblr-1695	594	55	going	go	VERB
cblr-1695	594	56	to	to	PART
cblr-1695	594	57	change	change	VERB
cblr-1695	594	58	your	your	PRON
cblr-1695	594	59	ultimate	ultimate	ADJ
cblr-1695	594	60	decision	decision	NOUN
cblr-1695	594	61	as	as	ADP
cblr-1695	594	62	to	to	ADP
cblr-1695	594	63	whether	whether	SCONJ
cblr-1695	594	64	to	to	PART
cblr-1695	594	65	go	go	VERB
cblr-1695	594	66	public	public	ADJ
cblr-1695	594	67	or	or	CCONJ
cblr-1695	594	68	not	not	PART
cblr-1695	594	69	,	,	PUNCT
cblr-1695	594	70	but	but	CCONJ
cblr-1695	594	71	it	it	PRON
cblr-1695	594	72	can	can	AUX
cblr-1695	594	73	encourage	encourage	VERB
cblr-1695	594	74	companies	company	NOUN
cblr-1695	594	75	to	to	PART
cblr-1695	594	76	move	move	VERB
cblr-1695	594	77	more	more	ADV
cblr-1695	594	78	quickly	quickly	ADV
cblr-1695	594	79	to	to	PART
cblr-1695	594	80	start	start	VERB
cblr-1695	594	81	the	the	DET
cblr-1695	594	82	process	process	NOUN
cblr-1695	594	83	of	of	ADP
cblr-1695	594	84	filing	filing	NOUN
cblr-1695	594	85	so	so	SCONJ
cblr-1695	594	86	they	they	PRON
cblr-1695	594	87	are	be	AUX
cblr-1695	594	88	ready	ready	ADJ
cblr-1695	594	89	to	to	PART
cblr-1695	594	90	access	access	VERB
cblr-1695	594	91	the	the	DET
cblr-1695	594	92	capital	capital	NOUN
cblr-1695	594	93	markets	market	NOUN
cblr-1695	594	94	at	at	ADP
cblr-1695	594	95	the	the	DET
cblr-1695	594	96	most	most	ADV
cblr-1695	594	97	opportune	opportune	ADJ
cblr-1695	594	98	time	time	NOUN
cblr-1695	594	99	.	.	PUNCT
cblr-1695	594	100	”	"	PUNCT
cblr-1695	594	101	)	)	PUNCT
cblr-1695	594	102	.	.	PUNCT
cblr-1695	595	1	344	344	NUM
cblr-1695	595	2	columbia	columbia	PROPN
cblr-1695	595	3	business	business	NOUN
cblr-1695	595	4	law	law	PROPN
cblr-1695	595	5	review	review	NOUN
cblr-1695	595	6	[	[	X
cblr-1695	595	7	vol	vol	NOUN
cblr-1695	595	8	.	.	NOUN
cblr-1695	595	9	2019	2019	NUM
cblr-1695	595	10	the	the	DET
cblr-1695	595	11	number	number	NOUN
cblr-1695	595	12	of	of	ADP
cblr-1695	595	13	ipos	ipos	NOUN
cblr-1695	595	14	—	—	PUNCT
cblr-1695	595	15	the	the	DET
cblr-1695	595	16	markets	market	NOUN
cblr-1695	595	17	may	may	AUX
cblr-1695	595	18	not	not	PART
cblr-1695	595	19	see	see	VERB
cblr-1695	595	20	such	such	DET
cblr-1695	595	21	an	an	DET
cblr-1695	595	22	increase	increase	NOUN
cblr-1695	595	23	for	for	ADP
cblr-1695	595	24	years	year	NOUN
cblr-1695	595	25	to	to	PART
cblr-1695	595	26	come	come	VERB
cblr-1695	595	27	.	.	PUNCT
cblr-1695	596	1	in	in	ADP
cblr-1695	596	2	an	an	DET
cblr-1695	596	3	attempt	attempt	NOUN
cblr-1695	596	4	to	to	PART
cblr-1695	596	5	determine	determine	VERB
cblr-1695	596	6	if	if	SCONJ
cblr-1695	596	7	non	non	ADJ
cblr-1695	596	8	-	-	ADJ
cblr-1695	596	9	egcs	egcs	ADJ
cblr-1695	596	10	are	be	AUX
cblr-1695	596	11	,	,	PUNCT
cblr-1695	596	12	in	in	ADP
cblr-1695	596	13	fact	fact	NOUN
cblr-1695	596	14	,	,	PUNCT
cblr-1695	596	15	filing	file	VERB
cblr-1695	596	16	confidential	confidential	ADJ
cblr-1695	596	17	drss	drss	NOUN
cblr-1695	596	18	but	but	CCONJ
cblr-1695	596	19	not	not	PART
cblr-1695	596	20	yet	yet	ADV
cblr-1695	596	21	filing	file	VERB
cblr-1695	596	22	form	form	NOUN
cblr-1695	596	23	s-1s	s-1s	PROPN
cblr-1695	596	24	,	,	PUNCT
cblr-1695	596	25	the	the	DET
cblr-1695	596	26	author	author	NOUN
cblr-1695	596	27	of	of	ADP
cblr-1695	596	28	this	this	DET
cblr-1695	596	29	note	note	NOUN
cblr-1695	596	30	filed	file	VERB
cblr-1695	596	31	a	a	DET
cblr-1695	596	32	freedom	freedom	NOUN
cblr-1695	596	33	of	of	ADP
cblr-1695	596	34	information	information	NOUN
cblr-1695	596	35	act	act	NOUN
cblr-1695	596	36	(	(	PUNCT
cblr-1695	596	37	foia	foia	PROPN
cblr-1695	596	38	)	)	PUNCT
cblr-1695	596	39	request	request	NOUN
cblr-1695	596	40	with	with	ADP
cblr-1695	596	41	the	the	DET
cblr-1695	596	42	sec	sec	PROPN
cblr-1695	596	43	.	.	PUNCT
cblr-1695	597	1	this	this	PRON
cblr-1695	597	2	was	be	AUX
cblr-1695	597	3	necessary	necessary	ADJ
cblr-1695	597	4	because	because	SCONJ
cblr-1695	597	5	a	a	DET
cblr-1695	597	6	drs	dr	NOUN
cblr-1695	597	7	filed	file	VERB
cblr-1695	597	8	by	by	ADP
cblr-1695	597	9	an	an	DET
cblr-1695	597	10	issuer	issuer	NOUN
cblr-1695	597	11	who	who	PRON
cblr-1695	597	12	has	have	AUX
cblr-1695	597	13	not	not	PART
cblr-1695	597	14	yet	yet	ADV
cblr-1695	597	15	filed	file	VERB
cblr-1695	597	16	a	a	DET
cblr-1695	597	17	form	form	NOUN
cblr-1695	597	18	s-1	s-1	NOUN
cblr-1695	597	19	is	be	AUX
cblr-1695	597	20	,	,	PUNCT
cblr-1695	597	21	due	due	ADP
cblr-1695	597	22	to	to	ADP
cblr-1695	597	23	its	its	PRON
cblr-1695	597	24	confidential	confidential	ADJ
cblr-1695	597	25	nature	nature	NOUN
cblr-1695	597	26	,	,	PUNCT
cblr-1695	597	27	not	not	PART
cblr-1695	597	28	public	public	ADJ
cblr-1695	597	29	.	.	PUNCT
cblr-1695	598	1	the	the	DET
cblr-1695	598	2	author	author	NOUN
cblr-1695	598	3	requested	request	VERB
cblr-1695	598	4	all	all	DET
cblr-1695	598	5	drss	drss	NOUN
cblr-1695	598	6	filed	file	VERB
cblr-1695	598	7	by	by	ADP
cblr-1695	598	8	non	non	ADJ
cblr-1695	598	9	-	-	ADJ
cblr-1695	598	10	egcs	egcs	ADJ
cblr-1695	598	11	from	from	ADP
cblr-1695	598	12	july	july	PROPN
cblr-1695	598	13	10	10	NUM
cblr-1695	598	14	,	,	PUNCT
cblr-1695	598	15	2017	2017	NUM
cblr-1695	598	16	through	through	ADP
cblr-1695	598	17	october	october	PROPN
cblr-1695	598	18	27	27	NUM
cblr-1695	598	19	,	,	PUNCT
cblr-1695	598	20	2018	2018	NUM
cblr-1695	598	21	and	and	CCONJ
cblr-1695	598	22	argued	argue	VERB
cblr-1695	598	23	that	that	SCONJ
cblr-1695	598	24	,	,	PUNCT
cblr-1695	598	25	unlike	unlike	ADP
cblr-1695	598	26	the	the	DET
cblr-1695	598	27	jobs	job	NOUN
cblr-1695	598	28	act	act	PROPN
cblr-1695	598	29	,	,	PUNCT
cblr-1695	598	30	the	the	DET
cblr-1695	598	31	july	july	PROPN
cblr-1695	598	32	2017	2017	NUM
cblr-1695	598	33	change	change	NOUN
cblr-1695	598	34	was	be	AUX
cblr-1695	598	35	not	not	PART
cblr-1695	598	36	grounded	ground	VERB
cblr-1695	598	37	in	in	ADP
cblr-1695	598	38	statute	statute	NOUN
cblr-1695	598	39	and	and	CCONJ
cblr-1695	598	40	,	,	PUNCT
cblr-1695	598	41	therefore	therefore	ADV
cblr-1695	598	42	,	,	PUNCT
cblr-1695	598	43	is	be	AUX
cblr-1695	598	44	subject	subject	ADJ
cblr-1695	598	45	to	to	ADP
cblr-1695	598	46	discovery	discovery	NOUN
cblr-1695	598	47	under	under	ADP
cblr-1695	598	48	foia.171	foia.171	NOUN
cblr-1695	598	49	however	however	ADV
cblr-1695	598	50	,	,	PUNCT
cblr-1695	598	51	the	the	DET
cblr-1695	598	52	sec	sec	PROPN
cblr-1695	598	53	denied	deny	VERB
cblr-1695	598	54	this	this	DET
cblr-1695	598	55	foia	foia	NOUN
cblr-1695	598	56	request	request	NOUN
cblr-1695	598	57	.	.	PUNCT
cblr-1695	599	1	in	in	ADP
cblr-1695	599	2	a	a	DET
cblr-1695	599	3	letter	letter	NOUN
cblr-1695	599	4	to	to	ADP
cblr-1695	599	5	the	the	DET
cblr-1695	599	6	author	author	NOUN
cblr-1695	599	7	of	of	ADP
cblr-1695	599	8	this	this	DET
cblr-1695	599	9	note	note	NOUN
cblr-1695	599	10	,	,	PUNCT
cblr-1695	599	11	the	the	DET
cblr-1695	599	12	sec	sec	PROPN
cblr-1695	599	13	stated	state	VERB
cblr-1695	599	14	it	it	PRON
cblr-1695	599	15	could	could	AUX
cblr-1695	599	16	“	"	PUNCT
cblr-1695	599	17	neither	neither	CCONJ
cblr-1695	599	18	confirm	confirm	VERB
cblr-1695	599	19	nor	nor	CCONJ
cblr-1695	599	20	deny	deny	VERB
cblr-1695	599	21	the	the	DET
cblr-1695	599	22	existence	existence	NOUN
cblr-1695	599	23	of	of	ADP
cblr-1695	599	24	any	any	DET
cblr-1695	599	25	records	record	NOUN
cblr-1695	599	26	responsive	responsive	ADJ
cblr-1695	599	27	to	to	ADP
cblr-1695	599	28	[	[	X
cblr-1695	599	29	this	this	DET
cblr-1695	599	30	]	]	X
cblr-1695	599	31	request	request	NOUN
cblr-1695	599	32	.	.	PUNCT
cblr-1695	599	33	”172	”172	PUNCT
cblr-1695	600	1	it	it	PRON
cblr-1695	600	2	explained	explain	VERB
cblr-1695	600	3	that	that	SCONJ
cblr-1695	600	4	,	,	PUNCT
cblr-1695	600	5	“	"	PUNCT
cblr-1695	600	6	[	[	X
cblr-1695	600	7	i]f	i]f	ADP
cblr-1695	600	8	such	such	ADJ
cblr-1695	600	9	records	record	NOUN
cblr-1695	600	10	were	be	AUX
cblr-1695	600	11	to	to	PART
cblr-1695	600	12	exist	exist	VERB
cblr-1695	600	13	they	they	PRON
cblr-1695	600	14	would	would	AUX
cblr-1695	600	15	be	be	AUX
cblr-1695	600	16	exempt	exempt	ADJ
cblr-1695	600	17	from	from	ADP
cblr-1695	600	18	disclosure	disclosure	NOUN
cblr-1695	600	19	pursuant	pursuant	ADJ
cblr-1695	600	20	to	to	ADP
cblr-1695	600	21	[	[	PUNCT
cblr-1695	600	22	foia	foia	PROPN
cblr-1695	600	23	exemption	exemption	NOUN
cblr-1695	600	24	4	4	NUM
cblr-1695	600	25	,	,	PUNCT
cblr-1695	600	26	]	]	PUNCT
cblr-1695	600	27	5	5	NUM
cblr-1695	600	28	u.s.c	u.s.c	ADJ
cblr-1695	600	29	.	.	PUNCT
cblr-1695	601	1	§	§	PROPN
cblr-1695	601	2	552(b)(4	552(b)(4	PROPN
cblr-1695	601	3	)	)	PUNCT
cblr-1695	601	4	.	.	PUNCT
cblr-1695	601	5	.	.	PUNCT
cblr-1695	601	6	.	.	PUNCT
cblr-1695	602	1	[	[	X
cblr-1695	602	2	which	which	PRON
cblr-1695	602	3	]	]	PUNCT
cblr-1695	602	4	protects	protect	VERB
cblr-1695	602	5	confidential	confidential	ADJ
cblr-1695	602	6	commercial	commercial	ADJ
cblr-1695	602	7	or	or	CCONJ
cblr-1695	602	8	financial	financial	ADJ
cblr-1695	602	9	information	information	NOUN
cblr-1695	602	10	,	,	PUNCT
cblr-1695	602	11	the	the	DET
cblr-1695	602	12	release	release	NOUN
cblr-1695	602	13	of	of	ADP
cblr-1695	602	14	which	which	PRON
cblr-1695	602	15	could	could	AUX
cblr-1695	602	16	cause	cause	VERB
cblr-1695	602	17	substantial	substantial	ADJ
cblr-1695	602	18	competitive	competitive	ADJ
cblr-1695	602	19	harm	harm	NOUN
cblr-1695	602	20	to	to	ADP
cblr-1695	602	21	the	the	DET
cblr-1695	602	22	submitter	submitter	NOUN
cblr-1695	602	23	.	.	PUNCT
cblr-1695	602	24	”173	”173	PUNCT
cblr-1695	602	25	while	while	SCONJ
cblr-1695	602	26	it	it	PRON
cblr-1695	602	27	is	be	AUX
cblr-1695	602	28	disappointing	disappointing	ADJ
cblr-1695	602	29	that	that	SCONJ
cblr-1695	602	30	this	this	DET
cblr-1695	602	31	foia	foia	PROPN
cblr-1695	602	32	request	request	NOUN
cblr-1695	602	33	did	do	AUX
cblr-1695	602	34	not	not	PART
cblr-1695	602	35	reveal	reveal	VERB
cblr-1695	602	36	the	the	DET
cblr-1695	602	37	number	number	NOUN
cblr-1695	602	38	of	of	ADP
cblr-1695	602	39	confidential	confidential	ADJ
cblr-1695	602	40	drss	drss	NOUN
cblr-1695	602	41	that	that	PRON
cblr-1695	602	42	have	have	AUX
cblr-1695	602	43	been	be	AUX
cblr-1695	602	44	filed	file	VERB
cblr-1695	602	45	by	by	ADP
cblr-1695	602	46	non	non	ADJ
cblr-1695	602	47	-	-	ADJ
cblr-1695	602	48	egcs	egcs	ADJ
cblr-1695	602	49	since	since	SCONJ
cblr-1695	602	50	the	the	DET
cblr-1695	602	51	change	change	NOUN
cblr-1695	602	52	,	,	PUNCT
cblr-1695	602	53	ultimately	ultimately	ADV
cblr-1695	602	54	such	such	ADJ
cblr-1695	602	55	information	information	NOUN
cblr-1695	602	56	would	would	AUX
cblr-1695	602	57	not	not	PART
cblr-1695	602	58	affect	affect	VERB
cblr-1695	602	59	the	the	DET
cblr-1695	602	60	overall	overall	ADJ
cblr-1695	602	61	conclusion	conclusion	NOUN
cblr-1695	602	62	of	of	ADP
cblr-1695	602	63	this	this	DET
cblr-1695	602	64	study	study	NOUN
cblr-1695	602	65	.	.	PUNCT
cblr-1695	603	1	even	even	ADV
cblr-1695	603	2	if	if	SCONJ
cblr-1695	603	3	many	many	ADJ
cblr-1695	603	4	non	non	ADJ
cblr-1695	603	5	-	-	ADJ
cblr-1695	603	6	egcs	egcs	ADJ
cblr-1695	603	7	have	have	AUX
cblr-1695	603	8	filed	file	VERB
cblr-1695	603	9	drss	drss	ADV
cblr-1695	603	10	,	,	PUNCT
cblr-1695	603	11	this	this	PRON
cblr-1695	603	12	would	would	AUX
cblr-1695	603	13	not	not	PART
cblr-1695	603	14	mean	mean	VERB
cblr-1695	603	15	that	that	SCONJ
cblr-1695	603	16	the	the	DET
cblr-1695	603	17	july	july	PROPN
cblr-1695	603	18	2017	2017	NUM
cblr-1695	603	19	change	change	NOUN
cblr-1695	603	20	is	be	AUX
cblr-1695	603	21	successful	successful	ADJ
cblr-1695	603	22	because	because	SCONJ
cblr-1695	603	23	such	such	ADJ
cblr-1695	603	24	companies	company	NOUN
cblr-1695	603	25	would	would	AUX
cblr-1695	603	26	have	have	AUX
cblr-1695	603	27	not	not	PART
cblr-1695	603	28	yet	yet	ADV
cblr-1695	603	29	conducted	conduct	VERB
cblr-1695	603	30	ipos	ipos	NOUN
cblr-1695	603	31	.	.	PUNCT
cblr-1695	604	1	the	the	DET
cblr-1695	604	2	change	change	NOUN
cblr-1695	604	3	is	be	AUX
cblr-1695	604	4	meant	mean	VERB
cblr-1695	604	5	to	to	PART
cblr-1695	604	6	increase	increase	VERB
cblr-1695	604	7	ipos	ipos	NOUN
cblr-1695	604	8	,	,	PUNCT
cblr-1695	604	9	and	and	CCONJ
cblr-1695	604	10	simply	simply	ADV
cblr-1695	604	11	filing	file	VERB
cblr-1695	604	12	a	a	DET
cblr-1695	604	13	confidential	confidential	ADJ
cblr-1695	604	14	drs	dr	NOUN
cblr-1695	604	15	does	do	AUX
cblr-1695	604	16	not	not	PART
cblr-1695	604	17	achieve	achieve	VERB
cblr-1695	604	18	this	this	PRON
cblr-1695	604	19	.	.	PUNCT
cblr-1695	605	1	instead	instead	ADV
cblr-1695	605	2	,	,	PUNCT
cblr-1695	605	3	as	as	ADP
cblr-1695	605	4	previously	previously	ADV
cblr-1695	605	5	171	171	NUM
cblr-1695	605	6	this	this	DET
cblr-1695	605	7	argument	argument	NOUN
cblr-1695	605	8	was	be	AUX
cblr-1695	605	9	based	base	VERB
cblr-1695	605	10	on	on	ADP
cblr-1695	605	11	information	information	NOUN
cblr-1695	605	12	found	find	VERB
cblr-1695	605	13	in	in	ADP
cblr-1695	605	14	sec	sec	PROPN
cblr-1695	605	15	staff	staff	NOUN
cblr-1695	605	16	expands	expand	VERB
cblr-1695	605	17	,	,	PUNCT
cblr-1695	605	18	supra	supra	PROPN
cblr-1695	605	19	note	note	NOUN
cblr-1695	605	20	112	112	NUM
cblr-1695	605	21	(	(	PUNCT
cblr-1695	605	22	“	"	PUNCT
cblr-1695	605	23	[	[	X
cblr-1695	605	24	b]ecause	b]ecause	VERB
cblr-1695	605	25	the	the	DET
cblr-1695	605	26	[	[	X
cblr-1695	605	27	sec	sec	PROPN
cblr-1695	605	28	’s	’s	NOUN
cblr-1695	605	29	]	]	PUNCT
cblr-1695	605	30	willingness	willingness	NOUN
cblr-1695	605	31	to	to	PART
cblr-1695	605	32	accept	accept	VERB
cblr-1695	605	33	this	this	DET
cblr-1695	605	34	new	new	ADJ
cblr-1695	605	35	set	set	NOUN
cblr-1695	605	36	of	of	ADP
cblr-1695	605	37	draft	draft	NOUN
cblr-1695	605	38	registration	registration	NOUN
cblr-1695	605	39	statements	statement	NOUN
cblr-1695	605	40	on	on	ADP
cblr-1695	605	41	a	a	DET
cblr-1695	605	42	nonpublic	nonpublic	ADJ
cblr-1695	605	43	basis	basis	NOUN
cblr-1695	605	44	is	be	AUX
cblr-1695	605	45	not	not	PART
cblr-1695	605	46	grounded	ground	VERB
cblr-1695	605	47	in	in	ADP
cblr-1695	605	48	statute	statute	NOUN
cblr-1695	605	49	,	,	PUNCT
cblr-1695	605	50	these	these	DET
cblr-1695	605	51	draft	draft	NOUN
cblr-1695	605	52	registration	registration	NOUN
cblr-1695	605	53	statements	statement	NOUN
cblr-1695	605	54	are	be	AUX
cblr-1695	605	55	subject	subject	ADJ
cblr-1695	605	56	to	to	ADP
cblr-1695	605	57	discovery	discovery	NOUN
cblr-1695	605	58	under	under	ADP
cblr-1695	605	59	the	the	DET
cblr-1695	605	60	freedom	freedom	NOUN
cblr-1695	605	61	of	of	ADP
cblr-1695	605	62	information	information	NOUN
cblr-1695	605	63	act	act	NOUN
cblr-1695	605	64	by	by	ADP
cblr-1695	605	65	the	the	DET
cblr-1695	605	66	press	press	NOUN
cblr-1695	605	67	,	,	PUNCT
cblr-1695	605	68	competitors	competitor	NOUN
cblr-1695	605	69	and	and	CCONJ
cblr-1695	605	70	others	other	NOUN
cblr-1695	605	71	.	.	PUNCT
cblr-1695	605	72	”	"	PUNCT
cblr-1695	605	73	)	)	PUNCT
cblr-1695	605	74	.	.	PUNCT
cblr-1695	606	1	172	172	NUM
cblr-1695	606	2	letter	letter	NOUN
cblr-1695	606	3	from	from	ADP
cblr-1695	606	4	mark	mark	PROPN
cblr-1695	606	5	p.	p.	PROPN
cblr-1695	606	6	siford	siford	PROPN
cblr-1695	606	7	,	,	PUNCT
cblr-1695	606	8	counsel	counsel	NOUN
cblr-1695	606	9	to	to	ADP
cblr-1695	606	10	the	the	DET
cblr-1695	606	11	dir./chief	dir./chief	ADJ
cblr-1695	606	12	foia	foia	PROPN
cblr-1695	606	13	officer	officer	NOUN
cblr-1695	606	14	,	,	PUNCT
cblr-1695	606	15	office	office	NOUN
cblr-1695	606	16	of	of	ADP
cblr-1695	606	17	support	support	NOUN
cblr-1695	606	18	operations	operation	NOUN
cblr-1695	606	19	,	,	PUNCT
cblr-1695	606	20	to	to	ADP
cblr-1695	606	21	patrick	patrick	PROPN
cblr-1695	606	22	gallagher	gallagher	PROPN
cblr-1695	606	23	,	,	PUNCT
cblr-1695	606	24	columbia	columbia	PROPN
cblr-1695	606	25	law	law	PROPN
cblr-1695	606	26	sch	sch	PROPN
cblr-1695	606	27	.	.	PROPN
cblr-1695	606	28	1	1	NUM
cblr-1695	606	29	(	(	PUNCT
cblr-1695	606	30	nov	nov	PROPN
cblr-1695	606	31	.	.	PROPN
cblr-1695	606	32	2	2	NUM
cblr-1695	606	33	,	,	PUNCT
cblr-1695	606	34	2018	2018	NUM
cblr-1695	606	35	)	)	PUNCT
cblr-1695	606	36	(	(	PUNCT
cblr-1695	606	37	on	on	ADP
cblr-1695	606	38	file	file	NOUN
cblr-1695	606	39	with	with	ADP
cblr-1695	606	40	the	the	DET
cblr-1695	606	41	columbia	columbia	PROPN
cblr-1695	606	42	business	business	PROPN
cblr-1695	606	43	law	law	PROPN
cblr-1695	606	44	review	review	PROPN
cblr-1695	606	45	)	)	PUNCT
cblr-1695	606	46	.	.	PUNCT
cblr-1695	607	1	173	173	NUM
cblr-1695	608	1	i	i	PRON
cblr-1695	608	2	d.	d.	PROPN
cblr-1695	608	3	no	no	INTJ
cblr-1695	608	4	.	.	PUNCT
cblr-1695	609	1	1:305	1:305	X
cblr-1695	609	2	]	]	X
cblr-1695	609	3	going	go	VERB
cblr-1695	609	4	public	public	ADJ
cblr-1695	609	5	secretly	secretly	ADV
cblr-1695	609	6	345	345	NUM
cblr-1695	609	7	noted	note	VERB
cblr-1695	609	8	,	,	PUNCT
cblr-1695	609	9	it	it	PRON
cblr-1695	609	10	could	could	AUX
cblr-1695	609	11	actually	actually	ADV
cblr-1695	609	12	mean	mean	VERB
cblr-1695	609	13	that	that	SCONJ
cblr-1695	609	14	such	such	ADJ
cblr-1695	609	15	companies	company	NOUN
cblr-1695	609	16	remain	remain	VERB
cblr-1695	609	17	private	private	ADJ
cblr-1695	609	18	for	for	ADP
cblr-1695	610	1	much	much	ADJ
cblr-1695	610	2	longer.174	longer.174	PROPN
cblr-1695	610	3	iii	iii	NOUN
cblr-1695	610	4	.	.	PUNCT
cblr-1695	610	5	framework	framework	PROPN
cblr-1695	610	6	c	c	X
cblr-1695	610	7	:	:	PUNCT
cblr-1695	610	8	ipo	ipo	NOUN
cblr-1695	610	9	activity	activity	NOUN
cblr-1695	610	10	before	before	ADV
cblr-1695	610	11	and	and	CCONJ
cblr-1695	610	12	after	after	ADP
cblr-1695	610	13	the	the	DET
cblr-1695	610	14	july	july	PROPN
cblr-1695	610	15	2017	2017	NUM
cblr-1695	610	16	change	change	VERB
cblr-1695	610	17	a	a	DET
cblr-1695	610	18	final	final	ADJ
cblr-1695	610	19	method	method	NOUN
cblr-1695	610	20	of	of	ADP
cblr-1695	610	21	evaluation	evaluation	NOUN
cblr-1695	610	22	calls	call	VERB
cblr-1695	610	23	for	for	ADP
cblr-1695	610	24	a	a	DET
cblr-1695	610	25	narrowing	narrowing	NOUN
cblr-1695	610	26	of	of	ADP
cblr-1695	610	27	the	the	DET
cblr-1695	610	28	focus	focus	NOUN
cblr-1695	610	29	in	in	ADP
cblr-1695	610	30	order	order	NOUN
cblr-1695	610	31	to	to	PART
cblr-1695	610	32	compare	compare	VERB
cblr-1695	610	33	equivalent	equivalent	ADJ
cblr-1695	610	34	time	time	NOUN
cblr-1695	610	35	periods	period	NOUN
cblr-1695	610	36	before	before	ADV
cblr-1695	610	37	and	and	CCONJ
cblr-1695	610	38	after	after	ADP
cblr-1695	610	39	the	the	DET
cblr-1695	610	40	july	july	PROPN
cblr-1695	610	41	2017	2017	NUM
cblr-1695	610	42	change	change	NOUN
cblr-1695	610	43	.	.	PUNCT
cblr-1695	611	1	by	by	ADP
cblr-1695	611	2	isolating	isolate	VERB
cblr-1695	611	3	two	two	NUM
cblr-1695	611	4	time	time	NOUN
cblr-1695	611	5	periods	period	NOUN
cblr-1695	611	6	of	of	ADP
cblr-1695	611	7	equal	equal	ADJ
cblr-1695	611	8	length	length	NOUN
cblr-1695	611	9	,	,	PUNCT
cblr-1695	611	10	the	the	DET
cblr-1695	611	11	pre	pre	ADJ
cblr-1695	611	12	-	-	ADJ
cblr-1695	611	13	change	change	ADJ
cblr-1695	611	14	period	period	NOUN
cblr-1695	611	15	can	can	AUX
cblr-1695	611	16	serve	serve	VERB
cblr-1695	611	17	as	as	ADP
cblr-1695	611	18	a	a	DET
cblr-1695	611	19	control	control	NOUN
cblr-1695	611	20	group	group	NOUN
cblr-1695	611	21	for	for	ADP
cblr-1695	611	22	the	the	DET
cblr-1695	611	23	post	post	ADJ
cblr-1695	611	24	-	-	ADJ
cblr-1695	611	25	change	change	ADJ
cblr-1695	611	26	period	period	NOUN
cblr-1695	611	27	.	.	PUNCT
cblr-1695	612	1	this	this	DET
cblr-1695	612	2	framework	framework	NOUN
cblr-1695	612	3	examines	examine	VERB
cblr-1695	612	4	the	the	DET
cblr-1695	612	5	one	one	NUM
cblr-1695	612	6	year	year	NOUN
cblr-1695	612	7	(	(	PUNCT
cblr-1695	612	8	365	365	NUM
cblr-1695	612	9	days	day	NOUN
cblr-1695	612	10	)	)	PUNCT
cblr-1695	612	11	prior	prior	ADV
cblr-1695	612	12	to	to	ADP
cblr-1695	612	13	the	the	DET
cblr-1695	612	14	enactment	enactment	NOUN
cblr-1695	612	15	of	of	ADP
cblr-1695	612	16	the	the	DET
cblr-1695	612	17	change	change	NOUN
cblr-1695	612	18	and	and	CCONJ
cblr-1695	612	19	the	the	DET
cblr-1695	612	20	one	one	NUM
cblr-1695	612	21	year	year	NOUN
cblr-1695	612	22	(	(	PUNCT
cblr-1695	612	23	365	365	NUM
cblr-1695	612	24	days	day	NOUN
cblr-1695	612	25	)	)	PUNCT
cblr-1695	612	26	after	after	ADP
cblr-1695	612	27	the	the	DET
cblr-1695	612	28	enactment	enactment	NOUN
cblr-1695	612	29	of	of	ADP
cblr-1695	612	30	the	the	DET
cblr-1695	612	31	change.175	change.175	PROPN
cblr-1695	612	32	tables	table	VERB
cblr-1695	612	33	4	4	NUM
cblr-1695	612	34	,	,	PUNCT
cblr-1695	612	35	5	5	NUM
cblr-1695	612	36	,	,	PUNCT
cblr-1695	612	37	and	and	CCONJ
cblr-1695	612	38	6	6	NUM
cblr-1695	612	39	summarize	summarize	VERB
cblr-1695	612	40	the	the	DET
cblr-1695	612	41	data	datum	NOUN
cblr-1695	612	42	previously	previously	ADV
cblr-1695	612	43	analyzed	analyze	VERB
cblr-1695	612	44	in	in	ADP
cblr-1695	612	45	section	section	NOUN
cblr-1695	612	46	iii.b.2.i	iii.b.2.i	PROPN
cblr-1695	612	47	and	and	CCONJ
cblr-1695	612	48	section	section	NOUN
cblr-1695	612	49	iii.b.2.ii	iii.b.2.ii	ADJ
cblr-1695	612	50	for	for	ADP
cblr-1695	612	51	these	these	DET
cblr-1695	612	52	new	new	ADJ
cblr-1695	612	53	time	time	NOUN
cblr-1695	612	54	periods	period	NOUN
cblr-1695	612	55	.	.	PUNCT
cblr-1695	612	56	table	table	NOUN
cblr-1695	612	57	4	4	NUM
cblr-1695	612	58	:	:	PUNCT
cblr-1695	612	59	egc	egc	PROPN
cblr-1695	612	60	,	,	PUNCT
cblr-1695	612	61	non	non	ADJ
cblr-1695	612	62	-	-	ADJ
cblr-1695	612	63	egc	egc	ADJ
cblr-1695	612	64	,	,	PUNCT
cblr-1695	612	65	and	and	CCONJ
cblr-1695	612	66	total	total	ADJ
cblr-1695	612	67	ipos	ipos	NOUN
cblr-1695	612	68	before	before	ADP
cblr-1695	612	69	and	and	CCONJ
cblr-1695	612	70	after	after	ADP
cblr-1695	612	71	the	the	DET
cblr-1695	612	72	change176	change176	PROPN
cblr-1695	612	73	table	table	NOUN
cblr-1695	612	74	5	5	NUM
cblr-1695	612	75	:	:	PUNCT
cblr-1695	612	76	egc	egc	ADJ
cblr-1695	612	77	ipo	ipo	PROPN
cblr-1695	612	78	use	use	NOUN
cblr-1695	612	79	of	of	ADP
cblr-1695	612	80	confidential	confidential	ADJ
cblr-1695	612	81	filing	filing	NOUN
cblr-1695	612	82	process	process	NOUN
cblr-1695	612	83	before	before	ADP
cblr-1695	612	84	and	and	CCONJ
cblr-1695	612	85	after	after	ADP
cblr-1695	612	86	the	the	DET
cblr-1695	612	87	change177	change177	PROPN
cblr-1695	612	88	174	174	NUM
cblr-1695	612	89	see	see	VERB
cblr-1695	612	90	supra	supra	PROPN
cblr-1695	612	91	notes	note	VERB
cblr-1695	612	92	168–70	168–70	PROPN
cblr-1695	612	93	and	and	CCONJ
cblr-1695	612	94	accompanying	accompany	VERB
cblr-1695	612	95	text	text	NOUN
cblr-1695	612	96	.	.	PUNCT
cblr-1695	613	1	175	175	NUM
cblr-1695	614	1	the	the	DET
cblr-1695	614	2	365	365	NUM
cblr-1695	614	3	days	day	NOUN
cblr-1695	614	4	prior	prior	ADV
cblr-1695	614	5	to	to	ADP
cblr-1695	614	6	the	the	DET
cblr-1695	614	7	change	change	NOUN
cblr-1695	614	8	runs	run	VERB
cblr-1695	614	9	from	from	ADP
cblr-1695	614	10	july	july	PROPN
cblr-1695	614	11	10	10	NUM
cblr-1695	614	12	,	,	PUNCT
cblr-1695	614	13	2016	2016	NUM
cblr-1695	614	14	through	through	ADP
cblr-1695	614	15	july	july	PROPN
cblr-1695	614	16	9	9	NUM
cblr-1695	614	17	,	,	PUNCT
cblr-1695	614	18	2017	2017	NUM
cblr-1695	614	19	.	.	PUNCT
cblr-1695	615	1	the	the	DET
cblr-1695	615	2	365	365	NUM
cblr-1695	615	3	days	day	NOUN
cblr-1695	615	4	after	after	SCONJ
cblr-1695	615	5	the	the	DET
cblr-1695	615	6	change	change	NOUN
cblr-1695	615	7	runs	run	VERB
cblr-1695	615	8	from	from	ADP
cblr-1695	615	9	july	july	PROPN
cblr-1695	615	10	10	10	NUM
cblr-1695	615	11	,	,	PUNCT
cblr-1695	615	12	2017	2017	NUM
cblr-1695	615	13	through	through	ADP
cblr-1695	615	14	july	july	PROPN
cblr-1695	615	15	9	9	NUM
cblr-1695	615	16	,	,	PUNCT
cblr-1695	615	17	2018	2018	NUM
cblr-1695	615	18	.	.	PUNCT
cblr-1695	616	1	these	these	DET
cblr-1695	616	2	time	time	NOUN
cblr-1695	616	3	periods	period	NOUN
cblr-1695	616	4	inevitably	inevitably	ADV
cblr-1695	616	5	include	include	VERB
cblr-1695	616	6	weekends	weekend	NOUN
cblr-1695	616	7	and	and	CCONJ
cblr-1695	616	8	holidays	holiday	NOUN
cblr-1695	616	9	when	when	SCONJ
cblr-1695	616	10	the	the	DET
cblr-1695	616	11	markets	market	NOUN
cblr-1695	616	12	are	be	AUX
cblr-1695	616	13	closed	closed	ADJ
cblr-1695	616	14	.	.	PUNCT
cblr-1695	617	1	176	176	NUM
cblr-1695	617	2	this	this	DET
cblr-1695	617	3	table	table	NOUN
cblr-1695	617	4	summarizes	summarize	NOUN
cblr-1695	617	5	information	information	NOUN
cblr-1695	617	6	included	include	VERB
cblr-1695	617	7	in	in	ADP
cblr-1695	617	8	the	the	DET
cblr-1695	617	9	data	datum	NOUN
cblr-1695	617	10	set	set	VERB
cblr-1695	617	11	created	create	VERB
cblr-1695	617	12	by	by	ADP
cblr-1695	617	13	the	the	DET
cblr-1695	617	14	author	author	NOUN
cblr-1695	617	15	.	.	PUNCT
cblr-1695	618	1	see	see	VERB
cblr-1695	618	2	patrick	patrick	PROPN
cblr-1695	618	3	j.	j.	PROPN
cblr-1695	618	4	gallagher	gallagher	PROPN
cblr-1695	618	5	,	,	PUNCT
cblr-1695	618	6	ipo	ipo	PROPN
cblr-1695	618	7	data	datum	NOUN
cblr-1695	618	8	set	set	VERB
cblr-1695	618	9	(	(	PUNCT
cblr-1695	618	10	on	on	ADP
cblr-1695	618	11	file	file	NOUN
cblr-1695	618	12	with	with	ADP
cblr-1695	618	13	the	the	DET
cblr-1695	618	14	columbia	columbia	PROPN
cblr-1695	618	15	business	business	PROPN
cblr-1695	618	16	law	law	PROPN
cblr-1695	618	17	review	review	PROPN
cblr-1695	618	18	)	)	PUNCT
cblr-1695	618	19	.	.	PUNCT
cblr-1695	619	1	177	177	NUM
cblr-1695	619	2	this	this	DET
cblr-1695	619	3	table	table	NOUN
cblr-1695	619	4	summarizes	summarize	NOUN
cblr-1695	619	5	information	information	NOUN
cblr-1695	619	6	included	include	VERB
cblr-1695	619	7	in	in	ADP
cblr-1695	619	8	the	the	DET
cblr-1695	619	9	data	datum	NOUN
cblr-1695	619	10	set	set	VERB
cblr-1695	619	11	created	create	VERB
cblr-1695	619	12	by	by	ADP
cblr-1695	619	13	the	the	DET
cblr-1695	619	14	author	author	NOUN
cblr-1695	619	15	.	.	PUNCT
cblr-1695	620	1	see	see	VERB
cblr-1695	620	2	i	i	PRON
cblr-1695	620	3	d.	d.	PROPN
cblr-1695	620	4	346	346	NUM
cblr-1695	620	5	columbia	columbia	PROPN
cblr-1695	620	6	business	business	NOUN
cblr-1695	620	7	law	law	NOUN
cblr-1695	620	8	review	review	NOUN
cblr-1695	621	1	[	[	X
cblr-1695	621	2	vol	vol	NOUN
cblr-1695	621	3	.	.	NOUN
cblr-1695	621	4	2019	2019	NUM
cblr-1695	621	5	table	table	NOUN
cblr-1695	621	6	6	6	NUM
cblr-1695	621	7	:	:	PUNCT
cblr-1695	621	8	non	non	ADJ
cblr-1695	621	9	-	-	ADJ
cblr-1695	621	10	egc	egc	ADJ
cblr-1695	621	11	ipo	ipo	NOUN
cblr-1695	621	12	use	use	NOUN
cblr-1695	621	13	of	of	ADP
cblr-1695	621	14	confidential	confidential	ADJ
cblr-1695	621	15	filing	filing	NOUN
cblr-1695	621	16	process	process	NOUN
cblr-1695	621	17	before	before	ADP
cblr-1695	621	18	and	and	CCONJ
cblr-1695	621	19	after	after	ADP
cblr-1695	621	20	the	the	DET
cblr-1695	621	21	change178	change178	PROPN
cblr-1695	621	22	table	table	NOUN
cblr-1695	621	23	4	4	NUM
cblr-1695	621	24	shows	show	VERB
cblr-1695	621	25	the	the	DET
cblr-1695	621	26	starkest	stark	ADJ
cblr-1695	621	27	evidence	evidence	NOUN
cblr-1695	621	28	that	that	SCONJ
cblr-1695	621	29	the	the	DET
cblr-1695	621	30	july	july	PROPN
cblr-1695	621	31	2017	2017	NUM
cblr-1695	621	32	change	change	NOUN
cblr-1695	621	33	has	have	AUX
cblr-1695	621	34	yet	yet	ADV
cblr-1695	621	35	to	to	PART
cblr-1695	621	36	achieve	achieve	VERB
cblr-1695	621	37	its	its	PRON
cblr-1695	621	38	goal	goal	NOUN
cblr-1695	621	39	of	of	ADP
cblr-1695	621	40	increasing	increase	VERB
cblr-1695	621	41	the	the	DET
cblr-1695	621	42	number	number	NOUN
cblr-1695	621	43	of	of	ADP
cblr-1695	621	44	ipos	ipos	NOUN
cblr-1695	621	45	.	.	PUNCT
cblr-1695	622	1	although	although	SCONJ
cblr-1695	622	2	the	the	DET
cblr-1695	622	3	one	one	NUM
cblr-1695	622	4	year	year	NOUN
cblr-1695	622	5	after	after	SCONJ
cblr-1695	622	6	the	the	DET
cblr-1695	622	7	change	change	NOUN
cblr-1695	622	8	saw	see	VERB
cblr-1695	622	9	more	more	ADJ
cblr-1695	622	10	ipos	ipos	NOUN
cblr-1695	622	11	(	(	PUNCT
cblr-1695	622	12	126	126	NUM
cblr-1695	622	13	)	)	PUNCT
cblr-1695	622	14	than	than	ADP
cblr-1695	622	15	the	the	DET
cblr-1695	622	16	one	one	NUM
cblr-1695	622	17	year	year	NOUN
cblr-1695	622	18	prior	prior	ADV
cblr-1695	622	19	to	to	ADP
cblr-1695	622	20	the	the	DET
cblr-1695	622	21	change	change	NOUN
cblr-1695	622	22	(	(	PUNCT
cblr-1695	622	23	ninety	ninety	NUM
cblr-1695	622	24	-	-	PUNCT
cblr-1695	622	25	five	five	NUM
cblr-1695	622	26	)	)	PUNCT
cblr-1695	622	27	,	,	PUNCT
cblr-1695	622	28	this	this	PRON
cblr-1695	622	29	was	be	AUX
cblr-1695	622	30	a	a	DET
cblr-1695	622	31	result	result	NOUN
cblr-1695	622	32	of	of	ADP
cblr-1695	622	33	an	an	DET
cblr-1695	622	34	increase	increase	NOUN
cblr-1695	622	35	in	in	ADP
cblr-1695	622	36	egc	egc	ADJ
cblr-1695	622	37	ipos	ipos	NOUN
cblr-1695	622	38	,	,	PUNCT
cblr-1695	622	39	which	which	PRON
cblr-1695	622	40	were	be	AUX
cblr-1695	622	41	not	not	PART
cblr-1695	622	42	affected	affect	VERB
cblr-1695	622	43	by	by	ADP
cblr-1695	622	44	the	the	DET
cblr-1695	622	45	change	change	NOUN
cblr-1695	622	46	.	.	PUNCT
cblr-1695	623	1	more	more	ADV
cblr-1695	623	2	surprising	surprising	ADJ
cblr-1695	623	3	is	be	AUX
cblr-1695	623	4	the	the	DET
cblr-1695	623	5	fact	fact	NOUN
cblr-1695	623	6	that	that	SCONJ
cblr-1695	623	7	nonegc	nonegc	ADJ
cblr-1695	623	8	ipos	ipos	NOUN
cblr-1695	623	9	actually	actually	ADV
cblr-1695	623	10	decreased	decrease	VERB
cblr-1695	623	11	in	in	ADP
cblr-1695	623	12	the	the	DET
cblr-1695	623	13	one	one	NUM
cblr-1695	623	14	year	year	NOUN
cblr-1695	623	15	following	follow	VERB
cblr-1695	623	16	the	the	DET
cblr-1695	623	17	change	change	NOUN
cblr-1695	623	18	;	;	PUNCT
cblr-1695	623	19	there	there	PRON
cblr-1695	623	20	were	be	VERB
cblr-1695	623	21	twelve	twelve	NUM
cblr-1695	623	22	non	non	ADJ
cblr-1695	623	23	-	-	ADJ
cblr-1695	623	24	egc	egc	ADJ
cblr-1695	623	25	ipos	ipos	NOUN
cblr-1695	623	26	in	in	ADP
cblr-1695	623	27	the	the	DET
cblr-1695	623	28	one	one	NUM
cblr-1695	623	29	year	year	NOUN
cblr-1695	623	30	before	before	ADP
cblr-1695	623	31	the	the	DET
cblr-1695	623	32	change	change	NOUN
cblr-1695	623	33	and	and	CCONJ
cblr-1695	623	34	only	only	ADV
cblr-1695	623	35	nine	nine	NUM
cblr-1695	623	36	non	non	ADJ
cblr-1695	623	37	-	-	ADJ
cblr-1695	623	38	egc	egc	ADJ
cblr-1695	623	39	ipos	ipos	NOUN
cblr-1695	623	40	in	in	ADP
cblr-1695	623	41	the	the	DET
cblr-1695	623	42	one	one	NUM
cblr-1695	623	43	year	year	NOUN
cblr-1695	623	44	after	after	ADP
cblr-1695	623	45	the	the	DET
cblr-1695	623	46	change	change	NOUN
cblr-1695	623	47	.	.	PUNCT
cblr-1695	624	1	this	this	PRON
cblr-1695	624	2	suggests	suggest	VERB
cblr-1695	624	3	that	that	SCONJ
cblr-1695	624	4	,	,	PUNCT
cblr-1695	624	5	even	even	ADV
cblr-1695	624	6	if	if	SCONJ
cblr-1695	624	7	more	more	ADJ
cblr-1695	624	8	nonegcs	nonegcs	ADJ
cblr-1695	624	9	are	be	AUX
cblr-1695	624	10	exploring	explore	VERB
cblr-1695	624	11	the	the	DET
cblr-1695	624	12	possibility	possibility	NOUN
cblr-1695	624	13	of	of	ADP
cblr-1695	624	14	an	an	DET
cblr-1695	624	15	ipo	ipo	NOUN
cblr-1695	624	16	by	by	ADP
cblr-1695	624	17	filing	file	VERB
cblr-1695	624	18	a	a	DET
cblr-1695	624	19	confidential	confidential	ADJ
cblr-1695	624	20	drs	dr	NOUN
cblr-1695	624	21	,	,	PUNCT
cblr-1695	624	22	any	any	DET
cblr-1695	624	23	benefit	benefit	NOUN
cblr-1695	624	24	to	to	ADP
cblr-1695	624	25	the	the	DET
cblr-1695	624	26	public	public	ADJ
cblr-1695	624	27	markets	market	NOUN
cblr-1695	624	28	will	will	AUX
cblr-1695	624	29	not	not	PART
cblr-1695	624	30	be	be	AUX
cblr-1695	624	31	enjoyed	enjoy	VERB
cblr-1695	624	32	anytime	anytime	ADV
cblr-1695	624	33	soon	soon	ADV
cblr-1695	624	34	.	.	PUNCT
cblr-1695	625	1	table	table	NOUN
cblr-1695	625	2	5	5	NUM
cblr-1695	625	3	shows	show	VERB
cblr-1695	625	4	that	that	SCONJ
cblr-1695	625	5	the	the	DET
cblr-1695	625	6	vast	vast	ADJ
cblr-1695	625	7	majority	majority	NOUN
cblr-1695	625	8	of	of	ADP
cblr-1695	625	9	egcs	egcs	PROPN
cblr-1695	625	10	continue	continue	VERB
cblr-1695	625	11	to	to	PART
cblr-1695	625	12	use	use	VERB
cblr-1695	625	13	the	the	DET
cblr-1695	625	14	confidential	confidential	ADJ
cblr-1695	625	15	filing	filing	NOUN
cblr-1695	625	16	process	process	NOUN
cblr-1695	625	17	as	as	ADP
cblr-1695	625	18	only	only	ADV
cblr-1695	625	19	a	a	DET
cblr-1695	625	20	handful	handful	NOUN
cblr-1695	625	21	of	of	ADP
cblr-1695	625	22	egcs	egcs	NOUN
cblr-1695	625	23	in	in	ADP
cblr-1695	625	24	each	each	DET
cblr-1695	625	25	time	time	NOUN
cblr-1695	625	26	period	period	NOUN
cblr-1695	625	27	chose	choose	VERB
cblr-1695	625	28	not	not	PART
cblr-1695	625	29	to	to	PART
cblr-1695	625	30	do	do	VERB
cblr-1695	625	31	so	so	ADV
cblr-1695	625	32	.	.	PUNCT
cblr-1695	626	1	similarly	similarly	ADV
cblr-1695	626	2	,	,	PUNCT
cblr-1695	626	3	table	table	NOUN
cblr-1695	626	4	6	6	NUM
cblr-1695	626	5	shows	show	VERB
cblr-1695	626	6	that	that	SCONJ
cblr-1695	626	7	non	non	ADJ
cblr-1695	626	8	-	-	ADJ
cblr-1695	626	9	egcs	egcs	ADJ
cblr-1695	626	10	are	be	AUX
cblr-1695	626	11	adopting	adopt	VERB
cblr-1695	626	12	this	this	DET
cblr-1695	626	13	behavior	behavior	NOUN
cblr-1695	626	14	as	as	ADV
cblr-1695	626	15	well	well	ADV
cblr-1695	626	16	.	.	PUNCT
cblr-1695	627	1	it	it	PRON
cblr-1695	627	2	is	be	AUX
cblr-1695	627	3	important	important	ADJ
cblr-1695	627	4	to	to	PART
cblr-1695	627	5	note	note	VERB
cblr-1695	627	6	that	that	SCONJ
cblr-1695	627	7	one	one	NUM
cblr-1695	627	8	of	of	ADP
cblr-1695	627	9	the	the	DET
cblr-1695	627	10	non	non	ADJ
cblr-1695	627	11	-	-	ADJ
cblr-1695	627	12	egcs	egcs	ADJ
cblr-1695	627	13	that	that	PRON
cblr-1695	627	14	did	do	AUX
cblr-1695	627	15	not	not	PART
cblr-1695	627	16	file	file	VERB
cblr-1695	627	17	a	a	DET
cblr-1695	627	18	confidential	confidential	ADJ
cblr-1695	627	19	drs	dr	NOUN
cblr-1695	627	20	filed	file	VERB
cblr-1695	627	21	its	its	PRON
cblr-1695	627	22	form	form	NOUN
cblr-1695	627	23	s-1	s-1	NOUN
cblr-1695	627	24	prior	prior	ADV
cblr-1695	627	25	to	to	ADP
cblr-1695	627	26	the	the	DET
cblr-1695	627	27	change	change	NOUN
cblr-1695	627	28	taking	take	VERB
cblr-1695	627	29	effect	effect	NOUN
cblr-1695	627	30	and	and	CCONJ
cblr-1695	627	31	,	,	PUNCT
cblr-1695	627	32	therefore	therefore	ADV
cblr-1695	627	33	,	,	PUNCT
cblr-1695	627	34	could	could	AUX
cblr-1695	627	35	only	only	ADV
cblr-1695	627	36	have	have	AUX
cblr-1695	627	37	taken	take	VERB
cblr-1695	627	38	advantage	advantage	NOUN
cblr-1695	627	39	of	of	ADP
cblr-1695	627	40	this	this	DET
cblr-1695	627	41	process	process	NOUN
cblr-1695	627	42	if	if	SCONJ
cblr-1695	627	43	it	it	PRON
cblr-1695	627	44	chose	choose	VERB
cblr-1695	627	45	to	to	PART
cblr-1695	627	46	withdraw	withdraw	VERB
cblr-1695	627	47	its	its	PRON
cblr-1695	627	48	form	form	NOUN
cblr-1695	627	49	s-1	s-1	NOUN
cblr-1695	627	50	and	and	CCONJ
cblr-1695	627	51	file	file	VERB
cblr-1695	627	52	a	a	DET
cblr-1695	627	53	confidential	confidential	ADJ
cblr-1695	627	54	drs	dr	NOUN
cblr-1695	627	55	after	after	ADP
cblr-1695	627	56	july	july	PROPN
cblr-1695	627	57	10	10	NUM
cblr-1695	627	58	,	,	PUNCT
cblr-1695	627	59	2017.179	2017.179	PROPN
cblr-1695	627	60	as	as	ADP
cblr-1695	627	61	a	a	DET
cblr-1695	627	62	result	result	NOUN
cblr-1695	627	63	,	,	PUNCT
cblr-1695	627	64	all	all	PRON
cblr-1695	627	65	but	but	SCONJ
cblr-1695	627	66	one	one	NUM
cblr-1695	627	67	non	non	ADJ
cblr-1695	627	68	-	-	ADJ
cblr-1695	627	69	egc	egc	ADJ
cblr-1695	627	70	that	that	PRON
cblr-1695	627	71	first	first	ADV
cblr-1695	627	72	filed	file	VERB
cblr-1695	627	73	its	its	PRON
cblr-1695	627	74	registration	registration	NOUN
cblr-1695	627	75	document	document	NOUN
cblr-1695	627	76	after	after	SCONJ
cblr-1695	627	77	the	the	DET
cblr-1695	627	78	change	change	NOUN
cblr-1695	627	79	took	take	VERB
cblr-1695	627	80	effect	effect	NOUN
cblr-1695	627	81	used	use	VERB
cblr-1695	627	82	the	the	DET
cblr-1695	627	83	confidential	confidential	ADJ
cblr-1695	627	84	process	process	NOUN
cblr-1695	627	85	.	.	PUNCT
cblr-1695	628	1	178	178	NUM
cblr-1695	628	2	this	this	DET
cblr-1695	628	3	table	table	NOUN
cblr-1695	628	4	summarizes	summarize	NOUN
cblr-1695	628	5	information	information	NOUN
cblr-1695	628	6	included	include	VERB
cblr-1695	628	7	in	in	ADP
cblr-1695	628	8	the	the	DET
cblr-1695	628	9	data	datum	NOUN
cblr-1695	628	10	set	set	VERB
cblr-1695	628	11	created	create	VERB
cblr-1695	628	12	by	by	ADP
cblr-1695	628	13	the	the	DET
cblr-1695	628	14	author	author	NOUN
cblr-1695	628	15	.	.	PUNCT
cblr-1695	629	1	see	see	VERB
cblr-1695	629	2	i	i	PRON
cblr-1695	629	3	d.	d.	PROPN
cblr-1695	629	4	179	179	NUM
cblr-1695	629	5	see	see	VERB
cblr-1695	629	6	supra	supra	PROPN
cblr-1695	629	7	note	note	PROPN
cblr-1695	629	8	167	167	NUM
cblr-1695	629	9	and	and	CCONJ
cblr-1695	629	10	accompanying	accompany	VERB
cblr-1695	629	11	text	text	NOUN
cblr-1695	629	12	.	.	PUNCT
cblr-1695	630	1	no	no	INTJ
cblr-1695	630	2	.	.	PUNCT
cblr-1695	631	1	1:305	1:305	NUM
cblr-1695	631	2	]	]	X
cblr-1695	631	3	going	go	VERB
cblr-1695	631	4	public	public	ADJ
cblr-1695	631	5	secretly	secretly	ADV
cblr-1695	631	6	347	347	NUM
cblr-1695	631	7	3	3	NUM
cblr-1695	631	8	.	.	PUNCT
cblr-1695	631	9	summary	summary	NOUN
cblr-1695	631	10	of	of	ADP
cblr-1695	631	11	findings	finding	NOUN
cblr-1695	631	12	in	in	ADP
cblr-1695	631	13	its	its	PRON
cblr-1695	631	14	first	first	ADJ
cblr-1695	631	15	year	year	NOUN
cblr-1695	631	16	,	,	PUNCT
cblr-1695	631	17	the	the	DET
cblr-1695	631	18	july	july	PROPN
cblr-1695	631	19	2017	2017	NUM
cblr-1695	631	20	change	change	NOUN
cblr-1695	631	21	failed	fail	VERB
cblr-1695	631	22	to	to	PART
cblr-1695	631	23	increase	increase	VERB
cblr-1695	631	24	ipo	ipo	NOUN
cblr-1695	631	25	activity	activity	NOUN
cblr-1695	631	26	.	.	PUNCT
cblr-1695	632	1	the	the	DET
cblr-1695	632	2	data	datum	NOUN
cblr-1695	632	3	show	show	VERB
cblr-1695	632	4	that	that	SCONJ
cblr-1695	632	5	,	,	PUNCT
cblr-1695	632	6	since	since	SCONJ
cblr-1695	632	7	its	its	PRON
cblr-1695	632	8	enactment	enactment	NOUN
cblr-1695	632	9	,	,	PUNCT
cblr-1695	632	10	there	there	PRON
cblr-1695	632	11	has	have	AUX
cblr-1695	632	12	not	not	PART
cblr-1695	632	13	been	be	AUX
cblr-1695	632	14	an	an	DET
cblr-1695	632	15	increase	increase	NOUN
cblr-1695	632	16	in	in	ADP
cblr-1695	632	17	the	the	DET
cblr-1695	632	18	number	number	NOUN
cblr-1695	632	19	of	of	ADP
cblr-1695	632	20	non	non	ADJ
cblr-1695	632	21	-	-	ADJ
cblr-1695	632	22	egc	egc	ADJ
cblr-1695	632	23	ipos	ipos	NOUN
cblr-1695	632	24	or	or	CCONJ
cblr-1695	632	25	in	in	ADP
cblr-1695	632	26	the	the	DET
cblr-1695	632	27	proportion	proportion	NOUN
cblr-1695	632	28	of	of	ADP
cblr-1695	632	29	non	non	ADJ
cblr-1695	632	30	-	-	ADJ
cblr-1695	632	31	egcs	egcs	ADJ
cblr-1695	632	32	in	in	ADP
cblr-1695	632	33	the	the	DET
cblr-1695	632	34	overall	overall	ADJ
cblr-1695	632	35	ipo	ipo	NOUN
cblr-1695	632	36	market	market	NOUN
cblr-1695	632	37	.	.	PUNCT
cblr-1695	633	1	instead	instead	ADV
cblr-1695	633	2	,	,	PUNCT
cblr-1695	633	3	although	although	SCONJ
cblr-1695	633	4	non	non	ADJ
cblr-1695	633	5	-	-	ADJ
cblr-1695	633	6	egcs	egcs	ADJ
cblr-1695	633	7	have	have	AUX
cblr-1695	633	8	begun	begin	VERB
cblr-1695	633	9	to	to	PART
cblr-1695	633	10	use	use	VERB
cblr-1695	633	11	the	the	DET
cblr-1695	633	12	confidential	confidential	ADJ
cblr-1695	633	13	drs	drs	ADJ
cblr-1695	633	14	process	process	NOUN
cblr-1695	633	15	,	,	PUNCT
cblr-1695	633	16	the	the	DET
cblr-1695	633	17	volume	volume	NOUN
cblr-1695	633	18	and	and	CCONJ
cblr-1695	633	19	proportion	proportion	NOUN
cblr-1695	633	20	of	of	ADP
cblr-1695	633	21	nonegc	nonegc	ADJ
cblr-1695	633	22	ipos	ipos	NOUN
cblr-1695	633	23	have	have	AUX
cblr-1695	633	24	decreased	decrease	VERB
cblr-1695	633	25	as	as	ADP
cblr-1695	633	26	compared	compare	VERB
cblr-1695	633	27	to	to	ADP
cblr-1695	633	28	time	time	NOUN
cblr-1695	633	29	periods	period	NOUN
cblr-1695	633	30	prior	prior	ADV
cblr-1695	633	31	to	to	ADP
cblr-1695	633	32	the	the	DET
cblr-1695	633	33	change	change	NOUN
cblr-1695	633	34	.	.	PUNCT
cblr-1695	634	1	this	this	DET
cblr-1695	634	2	study	study	NOUN
cblr-1695	634	3	is	be	AUX
cblr-1695	634	4	the	the	DET
cblr-1695	634	5	first	first	ADJ
cblr-1695	634	6	attempt	attempt	NOUN
cblr-1695	634	7	to	to	PART
cblr-1695	634	8	analyze	analyze	VERB
cblr-1695	634	9	the	the	DET
cblr-1695	634	10	effect	effect	NOUN
cblr-1695	634	11	of	of	ADP
cblr-1695	634	12	the	the	DET
cblr-1695	634	13	july	july	PROPN
cblr-1695	634	14	2017	2017	NUM
cblr-1695	634	15	change	change	NOUN
cblr-1695	634	16	,	,	PUNCT
cblr-1695	634	17	and	and	CCONJ
cblr-1695	634	18	,	,	PUNCT
cblr-1695	634	19	therefore	therefore	ADV
cblr-1695	634	20	,	,	PUNCT
cblr-1695	634	21	only	only	ADV
cblr-1695	634	22	assesses	assess	VERB
cblr-1695	634	23	the	the	DET
cblr-1695	634	24	first	first	ADJ
cblr-1695	634	25	year	year	NOUN
cblr-1695	634	26	of	of	ADP
cblr-1695	634	27	ipo	ipo	NOUN
cblr-1695	634	28	activity	activity	NOUN
cblr-1695	634	29	following	follow	VERB
cblr-1695	634	30	its	its	PRON
cblr-1695	634	31	enactment	enactment	NOUN
cblr-1695	634	32	.	.	PUNCT
cblr-1695	635	1	therefore	therefore	ADV
cblr-1695	635	2	,	,	PUNCT
cblr-1695	635	3	as	as	SCONJ
cblr-1695	635	4	time	time	NOUN
cblr-1695	635	5	passes	pass	VERB
cblr-1695	635	6	and	and	CCONJ
cblr-1695	635	7	more	more	ADJ
cblr-1695	635	8	data	datum	NOUN
cblr-1695	635	9	become	become	VERB
cblr-1695	635	10	available	available	ADJ
cblr-1695	635	11	,	,	PUNCT
cblr-1695	635	12	additional	additional	ADJ
cblr-1695	635	13	studies	study	NOUN
cblr-1695	635	14	should	should	AUX
cblr-1695	635	15	be	be	AUX
cblr-1695	635	16	conducted	conduct	VERB
cblr-1695	635	17	in	in	ADP
cblr-1695	635	18	order	order	NOUN
cblr-1695	635	19	to	to	PART
cblr-1695	635	20	analyze	analyze	VERB
cblr-1695	635	21	whether	whether	SCONJ
cblr-1695	635	22	the	the	DET
cblr-1695	635	23	change	change	NOUN
cblr-1695	635	24	has	have	AUX
cblr-1695	635	25	increased	increase	VERB
cblr-1695	635	26	ipo	ipo	NOUN
cblr-1695	635	27	activity	activity	NOUN
cblr-1695	635	28	.	.	PUNCT
cblr-1695	636	1	nonetheless	nonetheless	ADV
cblr-1695	636	2	,	,	PUNCT
cblr-1695	636	3	the	the	DET
cblr-1695	636	4	findings	finding	NOUN
cblr-1695	636	5	of	of	ADP
cblr-1695	636	6	this	this	DET
cblr-1695	636	7	empirical	empirical	ADJ
cblr-1695	636	8	study	study	NOUN
cblr-1695	636	9	suggest	suggest	VERB
cblr-1695	636	10	that	that	SCONJ
cblr-1695	636	11	the	the	DET
cblr-1695	636	12	first	first	ADJ
cblr-1695	636	13	major	major	ADJ
cblr-1695	636	14	policy	policy	NOUN
cblr-1695	636	15	change	change	NOUN
cblr-1695	636	16	under	under	ADP
cblr-1695	636	17	the	the	DET
cblr-1695	636	18	trump	trump	NOUN
cblr-1695	636	19	administration	administration	NOUN
cblr-1695	636	20	’s	’s	PART
cblr-1695	636	21	sec	sec	PROPN
cblr-1695	636	22	has	have	AUX
cblr-1695	636	23	failed	fail	VERB
cblr-1695	636	24	and	and	CCONJ
cblr-1695	636	25	will	will	AUX
cblr-1695	636	26	not	not	PART
cblr-1695	636	27	generate	generate	VERB
cblr-1695	636	28	the	the	DET
cblr-1695	636	29	increase	increase	NOUN
cblr-1695	636	30	in	in	ADP
cblr-1695	636	31	ipos	ipos	NOUN
cblr-1695	636	32	or	or	CCONJ
cblr-1695	636	33	access	access	NOUN
cblr-1695	636	34	to	to	ADP
cblr-1695	636	35	capital	capital	NOUN
cblr-1695	636	36	markets	market	NOUN
cblr-1695	636	37	that	that	PRON
cblr-1695	636	38	it	it	PRON
cblr-1695	636	39	promised	promise	VERB
cblr-1695	636	40	.	.	PUNCT
cblr-1695	637	1	iv	iv	X
cblr-1695	637	2	.	.	PUNCT
cblr-1695	638	1	the	the	DET
cblr-1695	638	2	inherent	inherent	ADJ
cblr-1695	638	3	flaws	flaw	NOUN
cblr-1695	638	4	of	of	ADP
cblr-1695	638	5	the	the	DET
cblr-1695	638	6	sec	sec	PROPN
cblr-1695	638	7	’s	’s	PART
cblr-1695	638	8	approach	approach	NOUN
cblr-1695	638	9	to	to	ADP
cblr-1695	638	10	increasing	increase	VERB
cblr-1695	638	11	ipos	ipos	NOUN
cblr-1695	638	12	the	the	DET
cblr-1695	638	13	discussion	discussion	NOUN
cblr-1695	638	14	in	in	ADP
cblr-1695	638	15	part	part	NOUN
cblr-1695	638	16	iii	iii	NUM
cblr-1695	638	17	demonstrates	demonstrate	VERB
cblr-1695	638	18	that	that	SCONJ
cblr-1695	638	19	the	the	DET
cblr-1695	638	20	july	july	PROPN
cblr-1695	638	21	2017	2017	NUM
cblr-1695	638	22	change	change	NOUN
cblr-1695	638	23	has	have	AUX
cblr-1695	638	24	not	not	PART
cblr-1695	638	25	succeeded	succeed	VERB
cblr-1695	638	26	in	in	ADP
cblr-1695	638	27	increasing	increase	VERB
cblr-1695	638	28	the	the	DET
cblr-1695	638	29	number	number	NOUN
cblr-1695	638	30	of	of	ADP
cblr-1695	638	31	ipos	ipos	NOUN
cblr-1695	638	32	.	.	PUNCT
cblr-1695	639	1	this	this	DET
cblr-1695	639	2	part	part	NOUN
cblr-1695	639	3	now	now	ADV
cblr-1695	639	4	analyzes	analyze	VERB
cblr-1695	639	5	why	why	SCONJ
cblr-1695	639	6	this	this	PRON
cblr-1695	639	7	is	be	AUX
cblr-1695	639	8	the	the	DET
cblr-1695	639	9	case	case	NOUN
cblr-1695	639	10	.	.	PUNCT
cblr-1695	640	1	first	first	ADV
cblr-1695	640	2	,	,	PUNCT
cblr-1695	640	3	section	section	NOUN
cblr-1695	640	4	iv.a	iv.a	PROPN
cblr-1695	640	5	explores	explore	NOUN
cblr-1695	640	6	why	why	SCONJ
cblr-1695	640	7	the	the	DET
cblr-1695	640	8	change	change	NOUN
cblr-1695	640	9	is	be	AUX
cblr-1695	640	10	at	at	ADP
cblr-1695	640	11	odds	odd	NOUN
cblr-1695	640	12	with	with	ADP
cblr-1695	640	13	the	the	DET
cblr-1695	640	14	sec	sec	PROPN
cblr-1695	640	15	’s	’s	PART
cblr-1695	640	16	stated	state	VERB
cblr-1695	640	17	goal	goal	NOUN
cblr-1695	640	18	of	of	ADP
cblr-1695	640	19	increasing	increase	VERB
cblr-1695	640	20	the	the	DET
cblr-1695	640	21	number	number	NOUN
cblr-1695	640	22	of	of	ADP
cblr-1695	640	23	ipos	ipos	NOUN
cblr-1695	640	24	,	,	PUNCT
cblr-1695	640	25	but	but	CCONJ
cblr-1695	640	26	nonetheless	nonetheless	ADV
cblr-1695	640	27	defends	defend	VERB
cblr-1695	640	28	the	the	DET
cblr-1695	640	29	need	need	NOUN
cblr-1695	640	30	to	to	PART
cblr-1695	640	31	encourage	encourage	VERB
cblr-1695	640	32	non	non	ADJ
cblr-1695	640	33	-	-	ADJ
cblr-1695	640	34	egc	egc	ADJ
cblr-1695	640	35	ipos	ipos	NOUN
cblr-1695	640	36	due	due	ADP
cblr-1695	640	37	to	to	ADP
cblr-1695	640	38	the	the	DET
cblr-1695	640	39	large	large	ADJ
cblr-1695	640	40	amount	amount	NOUN
cblr-1695	640	41	of	of	ADP
cblr-1695	640	42	capital	capital	NOUN
cblr-1695	640	43	these	these	DET
cblr-1695	640	44	ipos	ipos	NOUN
cblr-1695	640	45	raise	raise	NOUN
cblr-1695	640	46	.	.	PUNCT
cblr-1695	641	1	section	section	NOUN
cblr-1695	641	2	iv.b	iv.b	PROPN
cblr-1695	641	3	then	then	ADV
cblr-1695	641	4	discusses	discuss	VERB
cblr-1695	641	5	how	how	SCONJ
cblr-1695	641	6	the	the	DET
cblr-1695	641	7	ipo	ipo	NOUN
cblr-1695	641	8	process	process	NOUN
cblr-1695	641	9	has	have	AUX
cblr-1695	641	10	been	be	AUX
cblr-1695	641	11	largely	largely	ADV
cblr-1695	641	12	substituted	substitute	VERB
cblr-1695	641	13	by	by	ADP
cblr-1695	641	14	private	private	ADJ
cblr-1695	641	15	capital	capital	NOUN
cblr-1695	641	16	,	,	PUNCT
cblr-1695	641	17	and	and	CCONJ
cblr-1695	641	18	examines	examine	VERB
cblr-1695	641	19	why	why	SCONJ
cblr-1695	641	20	the	the	DET
cblr-1695	641	21	sec	sec	PROPN
cblr-1695	641	22	must	must	AUX
cblr-1695	641	23	combat	combat	VERB
cblr-1695	641	24	this	this	DET
cblr-1695	641	25	shift	shift	NOUN
cblr-1695	641	26	in	in	ADP
cblr-1695	641	27	order	order	NOUN
cblr-1695	641	28	to	to	PART
cblr-1695	641	29	promote	promote	VERB
cblr-1695	641	30	distributional	distributional	ADJ
cblr-1695	641	31	equality	equality	NOUN
cblr-1695	641	32	throughout	throughout	ADP
cblr-1695	641	33	society	society	NOUN
cblr-1695	641	34	via	via	ADP
cblr-1695	641	35	the	the	DET
cblr-1695	641	36	public	public	ADJ
cblr-1695	641	37	markets	market	NOUN
cblr-1695	641	38	.	.	PUNCT
cblr-1695	642	1	a.	a.	NOUN
cblr-1695	642	2	capital	capital	PROPN
cblr-1695	642	3	raised	raise	VERB
cblr-1695	642	4	as	as	ADP
cblr-1695	642	5	a	a	DET
cblr-1695	642	6	complementary	complementary	ADJ
cblr-1695	642	7	metric	metric	NOUN
cblr-1695	642	8	of	of	ADP
cblr-1695	642	9	ipo	ipo	NOUN
cblr-1695	642	10	success	success	NOUN
cblr-1695	642	11	the	the	DET
cblr-1695	642	12	inherent	inherent	ADJ
cblr-1695	642	13	problem	problem	NOUN
cblr-1695	642	14	with	with	ADP
cblr-1695	642	15	the	the	DET
cblr-1695	642	16	sec	sec	PROPN
cblr-1695	642	17	’s	’s	PART
cblr-1695	642	18	july	july	PROPN
cblr-1695	642	19	2017	2017	NUM
cblr-1695	642	20	change	change	NOUN
cblr-1695	642	21	is	be	AUX
cblr-1695	642	22	that	that	SCONJ
cblr-1695	642	23	the	the	DET
cblr-1695	642	24	agency	agency	NOUN
cblr-1695	642	25	appears	appear	VERB
cblr-1695	642	26	to	to	PART
cblr-1695	642	27	be	be	AUX
cblr-1695	642	28	focused	focus	VERB
cblr-1695	642	29	primarily	primarily	ADV
cblr-1695	642	30	on	on	ADP
cblr-1695	642	31	increasing	increase	VERB
cblr-1695	642	32	348	348	NUM
cblr-1695	642	33	columbia	columbia	PROPN
cblr-1695	642	34	business	business	NOUN
cblr-1695	642	35	law	law	PROPN
cblr-1695	642	36	review	review	NOUN
cblr-1695	643	1	[	[	X
cblr-1695	643	2	vol	vol	NOUN
cblr-1695	643	3	.	.	NOUN
cblr-1695	643	4	2019	2019	NUM
cblr-1695	643	5	the	the	DET
cblr-1695	643	6	number	number	NOUN
cblr-1695	643	7	of	of	ADP
cblr-1695	643	8	ipos	ipos	NOUN
cblr-1695	643	9	in	in	ADP
cblr-1695	643	10	order	order	NOUN
cblr-1695	643	11	to	to	PART
cblr-1695	643	12	revitalize	revitalize	VERB
cblr-1695	643	13	the	the	DET
cblr-1695	643	14	public	public	ADJ
cblr-1695	643	15	markets	market	NOUN
cblr-1695	643	16	.	.	PUNCT
cblr-1695	644	1	for	for	ADP
cblr-1695	644	2	example	example	NOUN
cblr-1695	644	3	,	,	PUNCT
cblr-1695	644	4	president	president	NOUN
cblr-1695	644	5	trump	trump	VERB
cblr-1695	644	6	’s	’s	PART
cblr-1695	644	7	first	first	ADJ
cblr-1695	644	8	meeting	meeting	NOUN
cblr-1695	644	9	with	with	ADP
cblr-1695	644	10	chairman	chairman	PROPN
cblr-1695	644	11	clayton	clayton	PROPN
cblr-1695	644	12	stressed	stress	VERB
cblr-1695	644	13	concern	concern	NOUN
cblr-1695	644	14	over	over	ADP
cblr-1695	644	15	the	the	DET
cblr-1695	644	16	declining	decline	VERB
cblr-1695	644	17	number	number	NOUN
cblr-1695	644	18	of	of	ADP
cblr-1695	644	19	ipos.180	ipos.180	NOUN
cblr-1695	644	20	further	far	ADV
cblr-1695	644	21	,	,	PUNCT
cblr-1695	644	22	in	in	ADP
cblr-1695	644	23	announcing	announce	VERB
cblr-1695	644	24	the	the	DET
cblr-1695	644	25	change	change	NOUN
cblr-1695	644	26	,	,	PUNCT
cblr-1695	644	27	chairman	chairman	PROPN
cblr-1695	644	28	clayton	clayton	PROPN
cblr-1695	644	29	highlighted	highlight	VERB
cblr-1695	644	30	that	that	SCONJ
cblr-1695	644	31	“	"	PUNCT
cblr-1695	644	32	the	the	DET
cblr-1695	644	33	reduction	reduction	NOUN
cblr-1695	644	34	in	in	ADP
cblr-1695	644	35	the	the	DET
cblr-1695	644	36	number	number	NOUN
cblr-1695	644	37	of	of	ADP
cblr-1695	644	38	u.s.listed	u.s.listed	ADJ
cblr-1695	644	39	public	public	ADJ
cblr-1695	644	40	companies	company	NOUN
cblr-1695	644	41	is	be	AUX
cblr-1695	644	42	a	a	DET
cblr-1695	644	43	serious	serious	ADJ
cblr-1695	644	44	issue	issue	NOUN
cblr-1695	644	45	for	for	ADP
cblr-1695	644	46	our	our	PRON
cblr-1695	644	47	markets	market	NOUN
cblr-1695	644	48	and	and	CCONJ
cblr-1695	644	49	the	the	DET
cblr-1695	644	50	country	country	NOUN
cblr-1695	644	51	more	more	ADV
cblr-1695	644	52	generally	generally	ADV
cblr-1695	644	53	.	.	PUNCT
cblr-1695	645	1	”181	”181	VERB
cblr-1695	646	1	his	his	PRON
cblr-1695	646	2	rationale	rationale	NOUN
cblr-1695	646	3	for	for	ADP
cblr-1695	646	4	the	the	DET
cblr-1695	646	5	change	change	NOUN
cblr-1695	646	6	emphasized	emphasize	VERB
cblr-1695	646	7	that	that	SCONJ
cblr-1695	646	8	it	it	PRON
cblr-1695	646	9	would	would	AUX
cblr-1695	646	10	“	"	PUNCT
cblr-1695	646	11	encourage	encourage	VERB
cblr-1695	646	12	more	more	ADJ
cblr-1695	646	13	companies	company	NOUN
cblr-1695	646	14	to	to	PART
cblr-1695	646	15	consider	consider	VERB
cblr-1695	646	16	going	go	VERB
cblr-1695	646	17	public	public	ADJ
cblr-1695	646	18	,	,	PUNCT
cblr-1695	646	19	which	which	PRON
cblr-1695	646	20	can	can	AUX
cblr-1695	646	21	result	result	VERB
cblr-1695	646	22	in	in	ADP
cblr-1695	646	23	more	more	ADJ
cblr-1695	646	24	choices	choice	NOUN
cblr-1695	646	25	for	for	ADP
cblr-1695	646	26	investors	investor	NOUN
cblr-1695	646	27	,	,	PUNCT
cblr-1695	646	28	job	job	NOUN
cblr-1695	646	29	creation	creation	NOUN
cblr-1695	646	30	,	,	PUNCT
cblr-1695	646	31	and	and	CCONJ
cblr-1695	646	32	a	a	DET
cblr-1695	646	33	stronger	strong	ADJ
cblr-1695	646	34	u.s	u.s	PROPN
cblr-1695	646	35	.	.	PROPN
cblr-1695	646	36	economy	economy	NOUN
cblr-1695	646	37	.	.	PUNCT
cblr-1695	647	1	”182	”182	PROPN
cblr-1695	647	2	however	however	ADV
cblr-1695	647	3	,	,	PUNCT
cblr-1695	647	4	the	the	DET
cblr-1695	647	5	july	july	PROPN
cblr-1695	647	6	2017	2017	NUM
cblr-1695	647	7	change	change	NOUN
cblr-1695	647	8	only	only	ADV
cblr-1695	647	9	affects	affect	VERB
cblr-1695	647	10	large	large	ADJ
cblr-1695	647	11	firms	firm	NOUN
cblr-1695	647	12	,	,	PUNCT
cblr-1695	647	13	and	and	CCONJ
cblr-1695	647	14	there	there	PRON
cblr-1695	647	15	simply	simply	ADV
cblr-1695	647	16	are	be	AUX
cblr-1695	647	17	not	not	PART
cblr-1695	647	18	enough	enough	ADJ
cblr-1695	647	19	that	that	PRON
cblr-1695	647	20	could	could	AUX
cblr-1695	647	21	go	go	VERB
cblr-1695	647	22	public	public	ADJ
cblr-1695	647	23	to	to	PART
cblr-1695	647	24	have	have	VERB
cblr-1695	647	25	a	a	DET
cblr-1695	647	26	significant	significant	ADJ
cblr-1695	647	27	effect	effect	NOUN
cblr-1695	647	28	on	on	ADP
cblr-1695	647	29	the	the	DET
cblr-1695	647	30	overall	overall	ADJ
cblr-1695	647	31	number	number	NOUN
cblr-1695	647	32	of	of	ADP
cblr-1695	647	33	ipos	ipos	NOUN
cblr-1695	647	34	.	.	PUNCT
cblr-1695	648	1	it	it	PRON
cblr-1695	648	2	is	be	AUX
cblr-1695	648	3	not	not	PART
cblr-1695	648	4	surprising	surprising	ADJ
cblr-1695	648	5	that	that	SCONJ
cblr-1695	648	6	egcs	egcs	PROPN
cblr-1695	648	7	have	have	AUX
cblr-1695	648	8	typically	typically	ADV
cblr-1695	648	9	accounted	account	VERB
cblr-1695	648	10	for	for	ADP
cblr-1695	648	11	eighty	eighty	NUM
cblr-1695	648	12	percent	percent	NOUN
cblr-1695	648	13	or	or	CCONJ
cblr-1695	648	14	more	more	ADJ
cblr-1695	648	15	of	of	ADP
cblr-1695	648	16	the	the	DET
cblr-1695	648	17	total	total	ADJ
cblr-1695	648	18	ipos	ipos	NOUN
cblr-1695	648	19	in	in	ADP
cblr-1695	648	20	a	a	DET
cblr-1695	648	21	given	give	VERB
cblr-1695	648	22	year.183	year.183	PROPN
cblr-1695	648	23	the	the	DET
cblr-1695	648	24	vast	vast	ADJ
cblr-1695	648	25	majority	majority	NOUN
cblr-1695	648	26	of	of	ADP
cblr-1695	648	27	private	private	ADJ
cblr-1695	648	28	companies	company	NOUN
cblr-1695	648	29	in	in	ADP
cblr-1695	648	30	the	the	DET
cblr-1695	648	31	united	united	PROPN
cblr-1695	648	32	states	states	PROPN
cblr-1695	648	33	will	will	AUX
cblr-1695	648	34	not	not	PART
cblr-1695	648	35	earn	earn	VERB
cblr-1695	648	36	$	$	SYM
cblr-1695	648	37	1.07	1.07	NUM
cblr-1695	648	38	billion	billion	NUM
cblr-1695	648	39	or	or	CCONJ
cblr-1695	648	40	more	more	ADJ
cblr-1695	648	41	—	—	PUNCT
cblr-1695	648	42	the	the	DET
cblr-1695	648	43	threshold	threshold	NOUN
cblr-1695	648	44	that	that	PRON
cblr-1695	648	45	makes	make	VERB
cblr-1695	648	46	a	a	DET
cblr-1695	648	47	company	company	NOUN
cblr-1695	648	48	a	a	DET
cblr-1695	648	49	non	non	ADJ
cblr-1695	648	50	-	-	ADJ
cblr-1695	648	51	egc	egc	ADJ
cblr-1695	648	52	—	—	PUNCT
cblr-1695	648	53	in	in	ADP
cblr-1695	648	54	revenue	revenue	NOUN
cblr-1695	648	55	in	in	ADP
cblr-1695	648	56	one	one	NUM
cblr-1695	648	57	fiscal	fiscal	ADJ
cblr-1695	648	58	year.184	year.184	NOUN
cblr-1695	648	59	however	however	ADV
cblr-1695	648	60	,	,	PUNCT
cblr-1695	648	61	the	the	DET
cblr-1695	648	62	sec	sec	PROPN
cblr-1695	648	63	must	must	AUX
cblr-1695	648	64	not	not	PART
cblr-1695	648	65	only	only	ADV
cblr-1695	648	66	focus	focus	VERB
cblr-1695	648	67	on	on	ADP
cblr-1695	648	68	the	the	DET
cblr-1695	648	69	volume	volume	NOUN
cblr-1695	648	70	of	of	ADP
cblr-1695	648	71	ipos	ipos	NOUN
cblr-1695	648	72	in	in	ADP
cblr-1695	648	73	order	order	NOUN
cblr-1695	648	74	to	to	PART
cblr-1695	648	75	assess	assess	VERB
cblr-1695	648	76	the	the	DET
cblr-1695	648	77	health	health	NOUN
cblr-1695	648	78	of	of	ADP
cblr-1695	648	79	the	the	DET
cblr-1695	648	80	public	public	ADJ
cblr-1695	648	81	markets	market	NOUN
cblr-1695	648	82	.	.	PUNCT
cblr-1695	649	1	instead	instead	ADV
cblr-1695	649	2	,	,	PUNCT
cblr-1695	649	3	180	180	NUM
cblr-1695	649	4	see	see	VERB
cblr-1695	649	5	supra	supra	PROPN
cblr-1695	649	6	notes	note	NOUN
cblr-1695	649	7	1–3	1–3	NOUN
cblr-1695	649	8	and	and	CCONJ
cblr-1695	649	9	accompanying	accompany	VERB
cblr-1695	649	10	text	text	NOUN
cblr-1695	649	11	.	.	PUNCT
cblr-1695	650	1	181	181	NUM
cblr-1695	650	2	clayton	clayton	PROPN
cblr-1695	650	3	,	,	PUNCT
cblr-1695	650	4	supra	supra	PROPN
cblr-1695	650	5	note	note	NOUN
cblr-1695	650	6	5	5	NUM
cblr-1695	650	7	.	.	NOUN
cblr-1695	650	8	182	182	NUM
cblr-1695	650	9	sec	sec	PROPN
cblr-1695	650	10	,	,	PUNCT
cblr-1695	650	11	supra	supra	PROPN
cblr-1695	650	12	note	note	NOUN
cblr-1695	650	13	101	101	NUM
cblr-1695	650	14	;	;	PUNCT
cblr-1695	650	15	see	see	VERB
cblr-1695	650	16	also	also	ADV
cblr-1695	650	17	sec	sec	PROPN
cblr-1695	650	18	to	to	PART
cblr-1695	650	19	allow	allow	VERB
cblr-1695	650	20	,	,	PUNCT
cblr-1695	650	21	supra	supra	PROPN
cblr-1695	650	22	note	note	NOUN
cblr-1695	650	23	105	105	NUM
cblr-1695	650	24	(	(	PUNCT
cblr-1695	650	25	“	"	PUNCT
cblr-1695	650	26	chairman	chairman	NOUN
cblr-1695	650	27	jay	jay	PROPN
cblr-1695	650	28	clayton	clayton	PROPN
cblr-1695	650	29	.	.	PUNCT
cblr-1695	650	30	.	.	PUNCT
cblr-1695	651	1	.	.	PUNCT
cblr-1695	651	2	has	have	AUX
cblr-1695	651	3	said	say	VERB
cblr-1695	651	4	he	he	PRON
cblr-1695	651	5	aimed	aim	VERB
cblr-1695	651	6	to	to	PART
cblr-1695	651	7	reverse	reverse	VERB
cblr-1695	651	8	the	the	DET
cblr-1695	651	9	steep	steep	ADJ
cblr-1695	651	10	decline	decline	NOUN
cblr-1695	651	11	in	in	ADP
cblr-1695	651	12	ipos	ipos	NOUN
cblr-1695	651	13	and	and	CCONJ
cblr-1695	651	14	give	give	VERB
cblr-1695	651	15	individual	individual	ADJ
cblr-1695	651	16	investors	investor	NOUN
cblr-1695	651	17	more	more	ADJ
cblr-1695	651	18	access	access	NOUN
cblr-1695	651	19	to	to	ADP
cblr-1695	651	20	smaller	small	ADJ
cblr-1695	651	21	,	,	PUNCT
cblr-1695	651	22	successful	successful	ADJ
cblr-1695	651	23	companies	company	NOUN
cblr-1695	651	24	.	.	PUNCT
cblr-1695	651	25	”	"	PUNCT
cblr-1695	651	26	)	)	PUNCT
cblr-1695	651	27	.	.	PUNCT
cblr-1695	652	1	183	183	NUM
cblr-1695	652	2	see	see	VERB
cblr-1695	652	3	berdejó	berdejó	NOUN
cblr-1695	652	4	,	,	PUNCT
cblr-1695	652	5	supra	supra	PROPN
cblr-1695	652	6	note	note	NOUN
cblr-1695	652	7	121	121	NUM
cblr-1695	652	8	,	,	PUNCT
cblr-1695	652	9	at	at	ADP
cblr-1695	652	10	36	36	NUM
cblr-1695	652	11	tbl.1	tbl.1	NUM
cblr-1695	652	12	.	.	PUNCT
cblr-1695	653	1	184	184	NUM
cblr-1695	653	2	given	give	VERB
cblr-1695	653	3	the	the	DET
cblr-1695	653	4	nature	nature	NOUN
cblr-1695	653	5	of	of	ADP
cblr-1695	653	6	private	private	ADJ
cblr-1695	653	7	companies	company	NOUN
cblr-1695	653	8	,	,	PUNCT
cblr-1695	653	9	access	access	NOUN
cblr-1695	653	10	to	to	ADP
cblr-1695	653	11	financial	financial	ADJ
cblr-1695	653	12	data	datum	NOUN
cblr-1695	653	13	is	be	AUX
cblr-1695	653	14	inherently	inherently	ADV
cblr-1695	653	15	difficult	difficult	ADJ
cblr-1695	653	16	.	.	PUNCT
cblr-1695	654	1	however	however	ADV
cblr-1695	654	2	,	,	PUNCT
cblr-1695	654	3	because	because	SCONJ
cblr-1695	654	4	a	a	DET
cblr-1695	654	5	company	company	NOUN
cblr-1695	654	6	that	that	PRON
cblr-1695	654	7	generates	generate	VERB
cblr-1695	654	8	$	$	SYM
cblr-1695	654	9	1.07	1.07	NUM
cblr-1695	654	10	billion	billion	NUM
cblr-1695	654	11	or	or	CCONJ
cblr-1695	654	12	more	more	ADJ
cblr-1695	654	13	in	in	ADP
cblr-1695	654	14	revenue	revenue	NOUN
cblr-1695	654	15	is	be	AUX
cblr-1695	654	16	a	a	DET
cblr-1695	654	17	major	major	ADJ
cblr-1695	654	18	entity	entity	NOUN
cblr-1695	654	19	,	,	PUNCT
cblr-1695	654	20	it	it	PRON
cblr-1695	654	21	is	be	AUX
cblr-1695	654	22	a	a	DET
cblr-1695	654	23	safe	safe	ADJ
cblr-1695	654	24	assumption	assumption	NOUN
cblr-1695	654	25	that	that	SCONJ
cblr-1695	654	26	the	the	DET
cblr-1695	654	27	vast	vast	ADJ
cblr-1695	654	28	majority	majority	NOUN
cblr-1695	654	29	of	of	ADP
cblr-1695	654	30	private	private	ADJ
cblr-1695	654	31	companies	company	NOUN
cblr-1695	654	32	in	in	ADP
cblr-1695	654	33	the	the	DET
cblr-1695	654	34	united	united	PROPN
cblr-1695	654	35	states	states	PROPN
cblr-1695	654	36	do	do	AUX
cblr-1695	654	37	not	not	PART
cblr-1695	654	38	reach	reach	VERB
cblr-1695	654	39	this	this	DET
cblr-1695	654	40	threshold	threshold	NOUN
cblr-1695	654	41	.	.	PUNCT
cblr-1695	655	1	further	far	ADV
cblr-1695	655	2	,	,	PUNCT
cblr-1695	655	3	according	accord	VERB
cblr-1695	655	4	to	to	ADP
cblr-1695	655	5	data	datum	NOUN
cblr-1695	655	6	from	from	ADP
cblr-1695	655	7	the	the	DET
cblr-1695	655	8	united	united	PROPN
cblr-1695	655	9	states	states	PROPN
cblr-1695	655	10	census	census	PROPN
cblr-1695	655	11	bureau	bureau	PROPN
cblr-1695	655	12	,	,	PUNCT
cblr-1695	655	13	the	the	DET
cblr-1695	655	14	overwhelming	overwhelming	ADJ
cblr-1695	655	15	majority	majority	NOUN
cblr-1695	655	16	of	of	ADP
cblr-1695	655	17	american	american	ADJ
cblr-1695	655	18	small	small	ADJ
cblr-1695	655	19	businesses	business	NOUN
cblr-1695	655	20	—	—	PUNCT
cblr-1695	655	21	73.3%—had	73.3%—had	ADJ
cblr-1695	655	22	revenues	revenue	NOUN
cblr-1695	655	23	of	of	ADP
cblr-1695	655	24	less	less	ADJ
cblr-1695	655	25	than	than	ADP
cblr-1695	655	26	$	$	SYM
cblr-1695	655	27	1	1	NUM
cblr-1695	655	28	million	million	NUM
cblr-1695	655	29	in	in	ADP
cblr-1695	655	30	2016	2016	NUM
cblr-1695	655	31	.	.	PUNCT
cblr-1695	656	1	see	see	VERB
cblr-1695	656	2	united	united	PROPN
cblr-1695	656	3	state	state	PROPN
cblr-1695	656	4	census	census	PROPN
cblr-1695	656	5	bureau	bureau	PROPN
cblr-1695	656	6	,	,	PUNCT
cblr-1695	656	7	statistics	statistic	NOUN
cblr-1695	656	8	for	for	ADP
cblr-1695	656	9	u.s	u.s	PROPN
cblr-1695	656	10	.	.	PROPN
cblr-1695	656	11	employer	employer	NOUN
cblr-1695	656	12	firms	firm	NOUN
cblr-1695	656	13	by	by	ADP
cblr-1695	656	14	sector	sector	NOUN
cblr-1695	656	15	,	,	PUNCT
cblr-1695	656	16	gender	gender	NOUN
cblr-1695	656	17	,	,	PUNCT
cblr-1695	656	18	ethnicity	ethnicity	NOUN
cblr-1695	656	19	,	,	PUNCT
cblr-1695	656	20	race	race	NOUN
cblr-1695	656	21	,	,	PUNCT
cblr-1695	656	22	veteran	veteran	NOUN
cblr-1695	656	23	status	status	NOUN
cblr-1695	656	24	,	,	PUNCT
cblr-1695	656	25	and	and	CCONJ
cblr-1695	656	26	receipts	receipt	NOUN
cblr-1695	656	27	size	size	NOUN
cblr-1695	656	28	of	of	ADP
cblr-1695	656	29	firm	firm	NOUN
cblr-1695	656	30	for	for	ADP
cblr-1695	656	31	the	the	DET
cblr-1695	656	32	u.s	u.s	PROPN
cblr-1695	656	33	.	.	PROPN
cblr-1695	656	34	,	,	PUNCT
cblr-1695	656	35	states	state	NOUN
cblr-1695	656	36	,	,	PUNCT
cblr-1695	656	37	and	and	CCONJ
cblr-1695	656	38	top	top	ADJ
cblr-1695	656	39	50	50	NUM
cblr-1695	656	40	msas	msa	NOUN
cblr-1695	656	41	:	:	PUNCT
cblr-1695	656	42	2016	2016	NUM
cblr-1695	656	43	annual	annual	ADJ
cblr-1695	656	44	survey	survey	NOUN
cblr-1695	656	45	of	of	ADP
cblr-1695	656	46	entrepreneurs	entrepreneur	NOUN
cblr-1695	656	47	,	,	PUNCT
cblr-1695	656	48	am	be	AUX
cblr-1695	656	49	.	.	PUNCT
cblr-1695	657	1	fact	fact	NOUN
cblr-1695	657	2	finder	finder	NOUN
cblr-1695	657	3	(	(	PUNCT
cblr-1695	657	4	aug	aug	PROPN
cblr-1695	657	5	.	.	PROPN
cblr-1695	657	6	10	10	NUM
cblr-1695	657	7	,	,	PUNCT
cblr-1695	657	8	2018	2018	NUM
cblr-1695	657	9	)	)	PUNCT
cblr-1695	657	10	,	,	PUNCT
cblr-1695	657	11	https://factfinder.census.gov/faces/tableservices/	https://factfinder.census.gov/faces/tableservices/	PROPN
cblr-1695	657	12	jsf	jsf	PROPN
cblr-1695	657	13	/	/	SYM
cblr-1695	657	14	pages	page	NOUN
cblr-1695	657	15	/	/	SYM
cblr-1695	657	16	productview.xhtml?pid	productview.xhtml?pid	NOUN
cblr-1695	657	17	=	=	SYM
cblr-1695	657	18	ase_2016_00csa03&prodtype	ase_2016_00csa03&prodtype	NUM
cblr-1695	657	19	=	=	NOUN
cblr-1695	657	20	table	table	NOUN
cblr-1695	657	21	(	(	PUNCT
cblr-1695	657	22	on	on	ADP
cblr-1695	657	23	file	file	NOUN
cblr-1695	657	24	with	with	ADP
cblr-1695	657	25	the	the	DET
cblr-1695	657	26	columbia	columbia	PROPN
cblr-1695	657	27	business	business	PROPN
cblr-1695	657	28	law	law	PROPN
cblr-1695	657	29	review	review	PROPN
cblr-1695	657	30	)	)	PUNCT
cblr-1695	657	31	;	;	PUNCT
cblr-1695	657	32	see	see	VERB
cblr-1695	657	33	also	also	ADV
cblr-1695	657	34	infra	infra	NOUN
cblr-1695	657	35	note	note	VERB
cblr-1695	657	36	188	188	NUM
cblr-1695	657	37	.	.	PUNCT
cblr-1695	658	1	no	no	INTJ
cblr-1695	658	2	.	.	PUNCT
cblr-1695	659	1	1:305	1:305	NUM
cblr-1695	659	2	]	]	X
cblr-1695	659	3	going	go	VERB
cblr-1695	659	4	public	public	ADJ
cblr-1695	659	5	secretly	secretly	ADV
cblr-1695	659	6	349	349	NUM
cblr-1695	659	7	the	the	DET
cblr-1695	659	8	amount	amount	NOUN
cblr-1695	659	9	of	of	ADP
cblr-1695	659	10	capital	capital	NOUN
cblr-1695	659	11	raised	raise	VERB
cblr-1695	659	12	by	by	ADP
cblr-1695	659	13	ipos	ipos	NOUN
cblr-1695	659	14	offers	offer	VERB
cblr-1695	659	15	another	another	DET
cblr-1695	659	16	valuable	valuable	ADJ
cblr-1695	659	17	metric	metric	NOUN
cblr-1695	659	18	to	to	PART
cblr-1695	659	19	examine	examine	VERB
cblr-1695	659	20	.	.	PUNCT
cblr-1695	660	1	an	an	DET
cblr-1695	660	2	individual	individual	ADJ
cblr-1695	660	3	non	non	ADJ
cblr-1695	660	4	-	-	ADJ
cblr-1695	660	5	egc	egc	ADJ
cblr-1695	660	6	typically	typically	ADV
cblr-1695	660	7	raises	raise	VERB
cblr-1695	660	8	much	much	ADV
cblr-1695	660	9	more	more	ADJ
cblr-1695	660	10	capital	capital	NOUN
cblr-1695	660	11	in	in	ADP
cblr-1695	660	12	its	its	PRON
cblr-1695	660	13	ipo	ipo	NOUN
cblr-1695	660	14	than	than	ADP
cblr-1695	660	15	an	an	DET
cblr-1695	660	16	individual	individual	ADJ
cblr-1695	660	17	egc	egc	NOUN
cblr-1695	660	18	.	.	PUNCT
cblr-1695	661	1	thus	thus	ADV
cblr-1695	661	2	,	,	PUNCT
cblr-1695	661	3	non	non	ADJ
cblr-1695	661	4	-	-	ADJ
cblr-1695	661	5	egcs	egcs	ADJ
cblr-1695	661	6	offer	offer	VERB
cblr-1695	661	7	a	a	DET
cblr-1695	661	8	valuable	valuable	ADJ
cblr-1695	661	9	compliment	compliment	NOUN
cblr-1695	661	10	to	to	ADP
cblr-1695	661	11	the	the	DET
cblr-1695	661	12	public	public	ADJ
cblr-1695	661	13	markets	market	NOUN
cblr-1695	661	14	,	,	PUNCT
cblr-1695	661	15	even	even	ADV
cblr-1695	661	16	if	if	SCONJ
cblr-1695	661	17	more	more	ADJ
cblr-1695	661	18	nonegc	nonegc	ADJ
cblr-1695	661	19	ipos	ipos	NOUN
cblr-1695	661	20	are	be	AUX
cblr-1695	661	21	unlikely	unlikely	ADJ
cblr-1695	661	22	to	to	PART
cblr-1695	661	23	move	move	VERB
cblr-1695	661	24	the	the	DET
cblr-1695	661	25	needle	needle	NOUN
cblr-1695	661	26	in	in	ADP
cblr-1695	661	27	terms	term	NOUN
cblr-1695	661	28	of	of	ADP
cblr-1695	661	29	overall	overall	ADJ
cblr-1695	661	30	ipo	ipo	NOUN
cblr-1695	661	31	volume	volume	NOUN
cblr-1695	661	32	,	,	PUNCT
cblr-1695	661	33	given	give	VERB
cblr-1695	661	34	that	that	SCONJ
cblr-1695	661	35	there	there	PRON
cblr-1695	661	36	are	be	VERB
cblr-1695	661	37	so	so	ADV
cblr-1695	661	38	few	few	ADJ
cblr-1695	661	39	.	.	PUNCT
cblr-1695	662	1	table	table	NOUN
cblr-1695	662	2	7	7	NUM
cblr-1695	662	3	summarizes	summarize	NOUN
cblr-1695	662	4	these	these	DET
cblr-1695	662	5	data	datum	NOUN
cblr-1695	662	6	.	.	PUNCT
cblr-1695	663	1	table	table	NOUN
cblr-1695	663	2	7	7	NUM
cblr-1695	663	3	:	:	PUNCT
cblr-1695	663	4	capital	capital	NOUN
cblr-1695	663	5	raised	raise	VERB
cblr-1695	663	6	by	by	ADP
cblr-1695	663	7	egc	egc	ADJ
cblr-1695	663	8	and	and	CCONJ
cblr-1695	663	9	non	non	ADJ
cblr-1695	663	10	-	-	ADJ
cblr-1695	663	11	egc	egc	ADJ
cblr-1695	663	12	ipos	ipos	NOUN
cblr-1695	663	13	(	(	PUNCT
cblr-1695	663	14	q1	q1	PROPN
cblr-1695	663	15	2015	2015	NUM
cblr-1695	663	16	–	–	PUNCT
cblr-1695	663	17	q2	q2	NOUN
cblr-1695	663	18	2018)185	2018)185	NUM
cblr-1695	663	19	although	although	SCONJ
cblr-1695	663	20	2015	2015	NUM
cblr-1695	663	21	saw	see	VERB
cblr-1695	663	22	only	only	ADV
cblr-1695	663	23	eight	eight	NUM
cblr-1695	663	24	non	non	ADJ
cblr-1695	663	25	-	-	ADJ
cblr-1695	663	26	egc	egc	ADJ
cblr-1695	663	27	ipos	ipos	NOUN
cblr-1695	663	28	,	,	PUNCT
cblr-1695	663	29	these	these	DET
cblr-1695	663	30	issuers	issuer	NOUN
cblr-1695	663	31	accounted	account	VERB
cblr-1695	663	32	for	for	ADP
cblr-1695	663	33	twenty	twenty	NUM
cblr-1695	663	34	-	-	PUNCT
cblr-1695	663	35	nine	nine	NUM
cblr-1695	663	36	percent	percent	NOUN
cblr-1695	663	37	of	of	ADP
cblr-1695	663	38	the	the	DET
cblr-1695	663	39	overall	overall	ADJ
cblr-1695	663	40	capital	capital	NOUN
cblr-1695	663	41	raised	raise	VERB
cblr-1695	663	42	in	in	ADP
cblr-1695	663	43	2015—$5.8	2015—$5.8	NUM
cblr-1695	663	44	billion	billion	NUM
cblr-1695	663	45	of	of	ADP
cblr-1695	663	46	the	the	DET
cblr-1695	663	47	nearly	nearly	ADV
cblr-1695	663	48	$	$	SYM
cblr-1695	663	49	20	20	NUM
cblr-1695	663	50	billion	billion	NUM
cblr-1695	663	51	.	.	PUNCT
cblr-1695	664	1	this	this	DET
cblr-1695	664	2	trend	trend	NOUN
cblr-1695	664	3	followed	follow	VERB
cblr-1695	664	4	in	in	ADP
cblr-1695	664	5	2016	2016	NUM
cblr-1695	664	6	and	and	CCONJ
cblr-1695	664	7	2017	2017	NUM
cblr-1695	664	8	.	.	PUNCT
cblr-1695	665	1	in	in	ADP
cblr-1695	665	2	2016	2016	NUM
cblr-1695	665	3	,	,	PUNCT
cblr-1695	665	4	the	the	DET
cblr-1695	665	5	nine	nine	NUM
cblr-1695	665	6	non	non	ADJ
cblr-1695	665	7	-	-	ADJ
cblr-1695	665	8	egcs	egcs	ADJ
cblr-1695	665	9	that	that	PRON
cblr-1695	665	10	went	go	VERB
cblr-1695	665	11	public	public	ADJ
cblr-1695	665	12	accounted	account	VERB
cblr-1695	665	13	for	for	ADP
cblr-1695	665	14	thirty	thirty	NUM
cblr-1695	665	15	-	-	PUNCT
cblr-1695	665	16	four	four	NUM
cblr-1695	665	17	percent	percent	NOUN
cblr-1695	665	18	of	of	ADP
cblr-1695	665	19	the	the	DET
cblr-1695	665	20	overall	overall	ADJ
cblr-1695	665	21	capital	capital	NOUN
cblr-1695	665	22	raised	raise	VERB
cblr-1695	665	23	;	;	PUNCT
cblr-1695	665	24	in	in	ADP
cblr-1695	665	25	2017	2017	NUM
cblr-1695	665	26	,	,	PUNCT
cblr-1695	665	27	the	the	DET
cblr-1695	665	28	eleven	eleven	NUM
cblr-1695	665	29	non	non	ADJ
cblr-1695	665	30	-	-	ADJ
cblr-1695	665	31	egcs	egcs	ADJ
cblr-1695	665	32	accounted	account	VERB
cblr-1695	665	33	for	for	ADP
cblr-1695	665	34	a	a	DET
cblr-1695	665	35	quarter	quarter	NOUN
cblr-1695	665	36	of	of	ADP
cblr-1695	665	37	all	all	DET
cblr-1695	665	38	raised	raise	VERB
cblr-1695	665	39	capital	capital	NOUN
cblr-1695	665	40	.	.	PUNCT
cblr-1695	666	1	the	the	DET
cblr-1695	666	2	first	first	ADJ
cblr-1695	666	3	half	half	NOUN
cblr-1695	666	4	of	of	ADP
cblr-1695	666	5	2018	2018	NUM
cblr-1695	666	6	is	be	AUX
cblr-1695	666	7	even	even	ADV
cblr-1695	666	8	more	more	ADV
cblr-1695	666	9	significant	significant	ADJ
cblr-1695	666	10	—	—	PUNCT
cblr-1695	666	11	thirty	thirty	NUM
cblr-1695	666	12	-	-	PUNCT
cblr-1695	666	13	seven	seven	NUM
cblr-1695	666	14	percent	percent	NOUN
cblr-1695	666	15	of	of	ADP
cblr-1695	666	16	all	all	DET
cblr-1695	666	17	capital	capital	NOUN
cblr-1695	666	18	raised	raise	VERB
cblr-1695	666	19	during	during	ADP
cblr-1695	666	20	this	this	DET
cblr-1695	666	21	time	time	NOUN
cblr-1695	666	22	period	period	NOUN
cblr-1695	666	23	comes	come	VERB
cblr-1695	666	24	from	from	ADP
cblr-1695	666	25	the	the	DET
cblr-1695	666	26	six	six	NUM
cblr-1695	666	27	non	non	ADJ
cblr-1695	666	28	-	-	ADJ
cblr-1695	666	29	egc	egc	ADJ
cblr-1695	666	30	ipos	ipos	NOUN
cblr-1695	666	31	.	.	PUNCT
cblr-1695	667	1	although	although	SCONJ
cblr-1695	667	2	collectively	collectively	ADV
cblr-1695	667	3	egcs	egcs	VERB
cblr-1695	667	4	raise	raise	VERB
cblr-1695	667	5	more	more	ADJ
cblr-1695	667	6	capital	capital	NOUN
cblr-1695	667	7	than	than	ADP
cblr-1695	667	8	nonegcs	nonegcs	ADJ
cblr-1695	667	9	,	,	PUNCT
cblr-1695	667	10	non	non	ADJ
cblr-1695	667	11	-	-	ADJ
cblr-1695	667	12	egcs	egcs	ADJ
cblr-1695	667	13	on	on	ADP
cblr-1695	667	14	average	average	ADJ
cblr-1695	667	15	raise	raise	NOUN
cblr-1695	667	16	much	much	ADV
cblr-1695	667	17	more	more	ADJ
cblr-1695	667	18	in	in	ADP
cblr-1695	667	19	their	their	PRON
cblr-1695	667	20	individual	individual	ADJ
cblr-1695	667	21	ipos	ipos	NOUN
cblr-1695	667	22	.	.	PUNCT
cblr-1695	668	1	for	for	ADP
cblr-1695	668	2	example	example	NOUN
cblr-1695	668	3	,	,	PUNCT
cblr-1695	668	4	in	in	ADP
cblr-1695	668	5	2015	2015	NUM
cblr-1695	668	6	,	,	PUNCT
cblr-1695	668	7	the	the	DET
cblr-1695	668	8	eight	eight	NUM
cblr-1695	668	9	non	non	ADJ
cblr-1695	668	10	-	-	ADJ
cblr-1695	668	11	egc	egc	ADJ
cblr-1695	668	12	185	185	NUM
cblr-1695	668	13	this	this	DET
cblr-1695	668	14	table	table	NOUN
cblr-1695	668	15	summarizes	summarize	NOUN
cblr-1695	668	16	information	information	NOUN
cblr-1695	668	17	included	include	VERB
cblr-1695	668	18	in	in	ADP
cblr-1695	668	19	the	the	DET
cblr-1695	668	20	data	datum	NOUN
cblr-1695	668	21	set	set	VERB
cblr-1695	668	22	created	create	VERB
cblr-1695	668	23	by	by	ADP
cblr-1695	668	24	the	the	DET
cblr-1695	668	25	author	author	NOUN
cblr-1695	668	26	.	.	PUNCT
cblr-1695	669	1	see	see	VERB
cblr-1695	669	2	patrick	patrick	PROPN
cblr-1695	669	3	j.	j.	PROPN
cblr-1695	669	4	gallagher	gallagher	PROPN
cblr-1695	669	5	,	,	PUNCT
cblr-1695	669	6	ipo	ipo	PROPN
cblr-1695	669	7	data	datum	NOUN
cblr-1695	669	8	set	set	VERB
cblr-1695	669	9	(	(	PUNCT
cblr-1695	669	10	on	on	ADP
cblr-1695	669	11	file	file	NOUN
cblr-1695	669	12	with	with	ADP
cblr-1695	669	13	the	the	DET
cblr-1695	669	14	columbia	columbia	PROPN
cblr-1695	669	15	business	business	PROPN
cblr-1695	669	16	law	law	PROPN
cblr-1695	669	17	review	review	PROPN
cblr-1695	669	18	)	)	PUNCT
cblr-1695	669	19	.	.	PUNCT
cblr-1695	670	1	350	350	NUM
cblr-1695	670	2	columbia	columbia	PROPN
cblr-1695	670	3	business	business	NOUN
cblr-1695	670	4	law	law	PROPN
cblr-1695	670	5	review	review	NOUN
cblr-1695	670	6	[	[	X
cblr-1695	670	7	vol	vol	NOUN
cblr-1695	670	8	.	.	NOUN
cblr-1695	670	9	2019	2019	NUM
cblr-1695	670	10	issuers	issuer	NOUN
cblr-1695	670	11	raised	raise	VERB
cblr-1695	670	12	an	an	DET
cblr-1695	670	13	average	average	NOUN
cblr-1695	670	14	of	of	ADP
cblr-1695	670	15	$	$	SYM
cblr-1695	670	16	729	729	NUM
cblr-1695	670	17	million	million	NUM
cblr-1695	670	18	,	,	PUNCT
cblr-1695	670	19	whereas	whereas	SCONJ
cblr-1695	670	20	the	the	DET
cblr-1695	670	21	average	average	ADJ
cblr-1695	670	22	egc	egc	ADJ
cblr-1695	670	23	ipo	ipo	NOUN
cblr-1695	670	24	only	only	ADV
cblr-1695	670	25	raised	raise	VERB
cblr-1695	670	26	$	$	SYM
cblr-1695	670	27	132	132	NUM
cblr-1695	670	28	million	million	NUM
cblr-1695	670	29	.	.	PUNCT
cblr-1695	671	1	this	this	PRON
cblr-1695	671	2	means	mean	VERB
cblr-1695	671	3	that	that	SCONJ
cblr-1695	671	4	the	the	DET
cblr-1695	671	5	average	average	ADJ
cblr-1695	671	6	non	non	ADJ
cblr-1695	671	7	-	-	ADJ
cblr-1695	671	8	egc	egc	ADJ
cblr-1695	671	9	ipo	ipo	NOUN
cblr-1695	671	10	in	in	ADP
cblr-1695	671	11	2015	2015	NUM
cblr-1695	671	12	raised	raise	VERB
cblr-1695	671	13	5.5	5.5	NUM
cblr-1695	671	14	times	time	NOUN
cblr-1695	671	15	the	the	DET
cblr-1695	671	16	amount	amount	NOUN
cblr-1695	671	17	of	of	ADP
cblr-1695	671	18	capital	capital	NOUN
cblr-1695	671	19	as	as	ADP
cblr-1695	671	20	an	an	DET
cblr-1695	671	21	egc	egc	ADJ
cblr-1695	671	22	ipo	ipo	NOUN
cblr-1695	671	23	.	.	PUNCT
cblr-1695	672	1	once	once	ADV
cblr-1695	672	2	again	again	ADV
cblr-1695	672	3	,	,	PUNCT
cblr-1695	672	4	this	this	DET
cblr-1695	672	5	pattern	pattern	NOUN
cblr-1695	672	6	continued	continue	VERB
cblr-1695	672	7	in	in	ADP
cblr-1695	672	8	the	the	DET
cblr-1695	672	9	next	next	ADJ
cblr-1695	672	10	two	two	NUM
cblr-1695	672	11	years	year	NOUN
cblr-1695	672	12	.	.	PUNCT
cblr-1695	673	1	in	in	ADP
cblr-1695	673	2	2016	2016	NUM
cblr-1695	673	3	,	,	PUNCT
cblr-1695	673	4	the	the	DET
cblr-1695	673	5	average	average	ADJ
cblr-1695	673	6	non	non	ADJ
cblr-1695	673	7	-	-	ADJ
cblr-1695	673	8	egc	egc	ADJ
cblr-1695	673	9	ipo	ipo	PROPN
cblr-1695	673	10	raised	raise	VERB
cblr-1695	673	11	3.7	3.7	NUM
cblr-1695	673	12	times	time	NOUN
cblr-1695	673	13	the	the	DET
cblr-1695	673	14	amount	amount	NOUN
cblr-1695	673	15	of	of	ADP
cblr-1695	673	16	capital	capital	NOUN
cblr-1695	673	17	as	as	ADP
cblr-1695	673	18	the	the	DET
cblr-1695	673	19	average	average	ADJ
cblr-1695	673	20	egc	egc	PROPN
cblr-1695	673	21	ipo	ipo	PROPN
cblr-1695	673	22	.	.	PUNCT
cblr-1695	674	1	interestingly	interestingly	ADV
cblr-1695	674	2	—	—	PUNCT
cblr-1695	674	3	despite	despite	SCONJ
cblr-1695	674	4	the	the	DET
cblr-1695	674	5	july	july	PROPN
cblr-1695	674	6	2017	2017	NUM
cblr-1695	674	7	change	change	NOUN
cblr-1695	674	8	—	—	PUNCT
cblr-1695	674	9	the	the	DET
cblr-1695	674	10	year	year	NOUN
cblr-1695	674	11	2017	2017	NUM
cblr-1695	674	12	saw	see	VERB
cblr-1695	674	13	this	this	DET
cblr-1695	674	14	proportion	proportion	NOUN
cblr-1695	674	15	decrease	decrease	NOUN
cblr-1695	674	16	as	as	ADP
cblr-1695	674	17	compared	compare	VERB
cblr-1695	674	18	to	to	ADP
cblr-1695	674	19	2015	2015	NUM
cblr-1695	674	20	and	and	CCONJ
cblr-1695	674	21	2016	2016	NUM
cblr-1695	674	22	;	;	PUNCT
cblr-1695	674	23	the	the	DET
cblr-1695	674	24	average	average	ADJ
cblr-1695	674	25	2017	2017	NUM
cblr-1695	674	26	non	non	ADJ
cblr-1695	674	27	-	-	ADJ
cblr-1695	674	28	egc	egc	ADJ
cblr-1695	674	29	ipo	ipo	PROPN
cblr-1695	674	30	raised	raise	VERB
cblr-1695	674	31	$	$	SYM
cblr-1695	674	32	436	436	NUM
cblr-1695	674	33	million	million	NUM
cblr-1695	674	34	,	,	PUNCT
cblr-1695	674	35	2.7	2.7	NUM
cblr-1695	674	36	times	time	NOUN
cblr-1695	674	37	the	the	DET
cblr-1695	674	38	average	average	ADJ
cblr-1695	674	39	egc	egc	ADJ
cblr-1695	674	40	ipo	ipo	NOUN
cblr-1695	674	41	of	of	ADP
cblr-1695	674	42	$	$	SYM
cblr-1695	674	43	162	162	NUM
cblr-1695	674	44	million	million	NUM
cblr-1695	674	45	.	.	PUNCT
cblr-1695	675	1	however	however	ADV
cblr-1695	675	2	,	,	PUNCT
cblr-1695	675	3	this	this	DET
cblr-1695	675	4	decrease	decrease	NOUN
cblr-1695	675	5	is	be	AUX
cblr-1695	675	6	largely	largely	ADV
cblr-1695	675	7	due	due	ADJ
cblr-1695	675	8	to	to	PART
cblr-1695	675	9	snap	snap	PROPN
cblr-1695	675	10	inc	inc	PROPN
cblr-1695	675	11	.	.	PROPN
cblr-1695	675	12	’s	’s	PART
cblr-1695	675	13	march	march	PROPN
cblr-1695	675	14	2017	2017	NUM
cblr-1695	675	15	ipo	ipo	NOUN
cblr-1695	675	16	,	,	PUNCT
cblr-1695	675	17	which	which	PRON
cblr-1695	675	18	serves	serve	VERB
cblr-1695	675	19	as	as	ADP
cblr-1695	675	20	an	an	DET
cblr-1695	675	21	outlier	outlier	NOUN
cblr-1695	675	22	for	for	ADP
cblr-1695	675	23	this	this	DET
cblr-1695	675	24	year	year	NOUN
cblr-1695	675	25	.	.	PUNCT
cblr-1695	676	1	although	although	SCONJ
cblr-1695	676	2	snap	snap	NOUN
cblr-1695	676	3	is	be	AUX
cblr-1695	676	4	an	an	DET
cblr-1695	676	5	egc	egc	NOUN
cblr-1695	676	6	,	,	PUNCT
cblr-1695	676	7	it	it	PRON
cblr-1695	676	8	raised	raise	VERB
cblr-1695	676	9	more	more	ADJ
cblr-1695	676	10	capital	capital	NOUN
cblr-1695	676	11	than	than	ADP
cblr-1695	676	12	any	any	DET
cblr-1695	676	13	other	other	ADJ
cblr-1695	676	14	2017	2017	NUM
cblr-1695	676	15	ipo.186	ipo.186	VERB
cblr-1695	676	16	the	the	DET
cblr-1695	676	17	first	first	ADJ
cblr-1695	676	18	half	half	NOUN
cblr-1695	676	19	of	of	ADP
cblr-1695	676	20	2018	2018	NUM
cblr-1695	676	21	shows	show	VERB
cblr-1695	676	22	an	an	DET
cblr-1695	676	23	even	even	ADV
cblr-1695	676	24	starker	stark	ADJ
cblr-1695	676	25	contrast	contrast	NOUN
cblr-1695	676	26	.	.	PUNCT
cblr-1695	677	1	the	the	DET
cblr-1695	677	2	six	six	NUM
cblr-1695	677	3	non	non	ADJ
cblr-1695	677	4	-	-	ADJ
cblr-1695	677	5	egc	egc	ADJ
cblr-1695	677	6	ipos	ipos	NOUN
cblr-1695	677	7	raised	raise	VERB
cblr-1695	677	8	an	an	DET
cblr-1695	677	9	average	average	NOUN
cblr-1695	677	10	of	of	ADP
cblr-1695	677	11	$	$	SYM
cblr-1695	677	12	1.06	1.06	NUM
cblr-1695	677	13	billion	billion	NUM
cblr-1695	677	14	,	,	PUNCT
cblr-1695	677	15	6.6	6.6	NUM
cblr-1695	677	16	times	time	NOUN
cblr-1695	677	17	the	the	DET
cblr-1695	677	18	average	average	ADJ
cblr-1695	677	19	egc	egc	ADJ
cblr-1695	677	20	ipo	ipo	NOUN
cblr-1695	677	21	of	of	ADP
cblr-1695	677	22	$	$	SYM
cblr-1695	677	23	159	159	NUM
cblr-1695	677	24	million.187	million.187	ADJ
cblr-1695	677	25	table	table	NOUN
cblr-1695	677	26	7	7	NUM
cblr-1695	677	27	demonstrates	demonstrate	VERB
cblr-1695	677	28	the	the	DET
cblr-1695	677	29	fact	fact	NOUN
cblr-1695	677	30	that	that	SCONJ
cblr-1695	677	31	the	the	DET
cblr-1695	677	32	sec	sec	PROPN
cblr-1695	677	33	’s	’s	PART
cblr-1695	677	34	apparent	apparent	ADJ
cblr-1695	677	35	goal	goal	NOUN
cblr-1695	677	36	and	and	CCONJ
cblr-1695	677	37	policy	policy	NOUN
cblr-1695	677	38	choice	choice	NOUN
cblr-1695	677	39	are	be	AUX
cblr-1695	677	40	ultimately	ultimately	ADV
cblr-1695	677	41	at	at	ADP
cblr-1695	677	42	odds	odd	NOUN
cblr-1695	677	43	.	.	PUNCT
cblr-1695	678	1	if	if	SCONJ
cblr-1695	678	2	the	the	DET
cblr-1695	678	3	sec	sec	PROPN
cblr-1695	678	4	wishes	wish	VERB
cblr-1695	678	5	to	to	PART
cblr-1695	678	6	increase	increase	VERB
cblr-1695	678	7	the	the	DET
cblr-1695	678	8	number	number	NOUN
cblr-1695	678	9	of	of	ADP
cblr-1695	678	10	ipos	ipos	NOUN
cblr-1695	678	11	per	per	ADP
cblr-1695	678	12	year	year	NOUN
cblr-1695	678	13	,	,	PUNCT
cblr-1695	678	14	it	it	PRON
cblr-1695	678	15	would	would	AUX
cblr-1695	678	16	be	be	AUX
cblr-1695	678	17	best	good	ADJ
cblr-1695	678	18	to	to	PART
cblr-1695	678	19	focus	focus	VERB
cblr-1695	678	20	efforts	effort	NOUN
cblr-1695	678	21	on	on	ADP
cblr-1695	678	22	egcs	egcs	PROPN
cblr-1695	678	23	,	,	PUNCT
cblr-1695	678	24	as	as	SCONJ
cblr-1695	678	25	ipos	ipos	NOUN
cblr-1695	678	26	from	from	ADP
cblr-1695	678	27	these	these	DET
cblr-1695	678	28	issuers	issuer	NOUN
cblr-1695	678	29	far	far	ADV
cblr-1695	678	30	outnumber	outnumber	ADV
cblr-1695	678	31	non	non	ADJ
cblr-1695	678	32	-	-	ADJ
cblr-1695	678	33	egc	egc	ADJ
cblr-1695	678	34	issuers	issuer	NOUN
cblr-1695	678	35	.	.	PUNCT
cblr-1695	679	1	however	however	ADV
cblr-1695	679	2	,	,	PUNCT
cblr-1695	679	3	if	if	SCONJ
cblr-1695	679	4	the	the	DET
cblr-1695	679	5	sec	sec	PROPN
cblr-1695	679	6	hopes	hope	VERB
cblr-1695	679	7	to	to	PART
cblr-1695	679	8	increase	increase	VERB
cblr-1695	679	9	the	the	DET
cblr-1695	679	10	amount	amount	NOUN
cblr-1695	679	11	of	of	ADP
cblr-1695	679	12	capital	capital	NOUN
cblr-1695	679	13	raised	raise	VERB
cblr-1695	679	14	per	per	ADP
cblr-1695	679	15	year	year	NOUN
cblr-1695	679	16	,	,	PUNCT
cblr-1695	679	17	it	it	PRON
cblr-1695	679	18	should	should	AUX
cblr-1695	679	19	focus	focus	VERB
cblr-1695	679	20	on	on	ADP
cblr-1695	679	21	nonegcs	nonegcs	ADJ
cblr-1695	679	22	.	.	PUNCT
cblr-1695	680	1	because	because	SCONJ
cblr-1695	680	2	the	the	DET
cblr-1695	680	3	july	july	PROPN
cblr-1695	680	4	2017	2017	NUM
cblr-1695	680	5	change	change	NOUN
cblr-1695	680	6	applies	apply	VERB
cblr-1695	680	7	only	only	ADV
cblr-1695	680	8	to	to	ADP
cblr-1695	680	9	nonegcs	nonegcs	ADJ
cblr-1695	680	10	,	,	PUNCT
cblr-1695	680	11	it	it	PRON
cblr-1695	680	12	will	will	AUX
cblr-1695	680	13	never	never	ADV
cblr-1695	680	14	cause	cause	VERB
cblr-1695	680	15	a	a	DET
cblr-1695	680	16	meaningful	meaningful	ADJ
cblr-1695	680	17	increase	increase	NOUN
cblr-1695	680	18	in	in	ADP
cblr-1695	680	19	the	the	DET
cblr-1695	680	20	number	number	NOUN
cblr-1695	680	21	of	of	ADP
cblr-1695	680	22	ipos	ipos	NOUN
cblr-1695	680	23	in	in	ADP
cblr-1695	680	24	a	a	DET
cblr-1695	680	25	given	give	VERB
cblr-1695	680	26	year	year	NOUN
cblr-1695	680	27	.	.	PUNCT
cblr-1695	681	1	there	there	PRON
cblr-1695	681	2	simply	simply	ADV
cblr-1695	681	3	are	be	AUX
cblr-1695	681	4	not	not	PART
cblr-1695	681	5	enough	enough	ADJ
cblr-1695	681	6	private	private	ADJ
cblr-1695	681	7	186	186	NUM
cblr-1695	681	8	in	in	ADP
cblr-1695	681	9	fact	fact	NOUN
cblr-1695	681	10	,	,	PUNCT
cblr-1695	681	11	snap	snap	PROPN
cblr-1695	681	12	inc	inc	PROPN
cblr-1695	681	13	.	.	PUNCT
cblr-1695	682	1	(	(	PUNCT
cblr-1695	682	2	nyse	nyse	PROPN
cblr-1695	682	3	ticker	ticker	PROPN
cblr-1695	682	4	symbol	symbol	NOUN
cblr-1695	682	5	:	:	PUNCT
cblr-1695	682	6	snap	snap	PROPN
cblr-1695	682	7	)	)	PUNCT
cblr-1695	682	8	raised	raise	VERB
cblr-1695	682	9	the	the	DET
cblr-1695	682	10	largest	large	ADJ
cblr-1695	682	11	amount	amount	NOUN
cblr-1695	682	12	of	of	ADP
cblr-1695	682	13	capital	capital	NOUN
cblr-1695	682	14	out	out	ADP
cblr-1695	682	15	of	of	ADP
cblr-1695	682	16	all	all	PRON
cblr-1695	682	17	of	of	ADP
cblr-1695	682	18	the	the	DET
cblr-1695	682	19	companies	company	NOUN
cblr-1695	682	20	in	in	ADP
cblr-1695	682	21	the	the	DET
cblr-1695	682	22	data	datum	NOUN
cblr-1695	682	23	set—$3.4	set—$3.4	NOUN
cblr-1695	682	24	billion	billion	NUM
cblr-1695	682	25	.	.	PUNCT
cblr-1695	683	1	see	see	VERB
cblr-1695	683	2	patrick	patrick	PROPN
cblr-1695	683	3	j.	j.	PROPN
cblr-1695	683	4	gallagher	gallagher	PROPN
cblr-1695	683	5	,	,	PUNCT
cblr-1695	683	6	ipo	ipo	PROPN
cblr-1695	683	7	data	datum	NOUN
cblr-1695	683	8	set	set	VERB
cblr-1695	683	9	(	(	PUNCT
cblr-1695	683	10	on	on	ADP
cblr-1695	683	11	file	file	NOUN
cblr-1695	683	12	with	with	ADP
cblr-1695	683	13	the	the	DET
cblr-1695	683	14	columbia	columbia	PROPN
cblr-1695	683	15	business	business	PROPN
cblr-1695	683	16	law	law	PROPN
cblr-1695	683	17	review	review	PROPN
cblr-1695	683	18	)	)	PUNCT
cblr-1695	683	19	.	.	PUNCT
cblr-1695	684	1	removing	remove	VERB
cblr-1695	684	2	snap	snap	NOUN
cblr-1695	684	3	from	from	ADP
cblr-1695	684	4	this	this	DET
cblr-1695	684	5	calculation	calculation	NOUN
cblr-1695	684	6	,	,	PUNCT
cblr-1695	684	7	the	the	DET
cblr-1695	684	8	average	average	ADJ
cblr-1695	684	9	2017	2017	NUM
cblr-1695	684	10	egc	egc	ADJ
cblr-1695	684	11	amount	amount	NOUN
cblr-1695	684	12	raised	raise	VERB
cblr-1695	684	13	becomes	become	VERB
cblr-1695	684	14	$	$	SYM
cblr-1695	684	15	123	123	NUM
cblr-1695	684	16	million	million	NUM
cblr-1695	684	17	.	.	PUNCT
cblr-1695	685	1	this	this	DET
cblr-1695	685	2	results	result	VERB
cblr-1695	685	3	in	in	ADP
cblr-1695	685	4	the	the	DET
cblr-1695	685	5	average	average	ADJ
cblr-1695	685	6	non	non	ADJ
cblr-1695	685	7	-	-	ADJ
cblr-1695	685	8	egc	egc	ADJ
cblr-1695	685	9	ipo	ipo	NOUN
cblr-1695	685	10	being	be	AUX
cblr-1695	685	11	3.5	3.5	NUM
cblr-1695	685	12	times	time	NOUN
cblr-1695	685	13	greater	great	ADJ
cblr-1695	685	14	than	than	ADP
cblr-1695	685	15	the	the	DET
cblr-1695	685	16	average	average	ADJ
cblr-1695	685	17	egc	egc	ADJ
cblr-1695	685	18	ipo	ipo	NOUN
cblr-1695	685	19	(	(	PUNCT
cblr-1695	685	20	excluding	exclude	VERB
cblr-1695	685	21	snap	snap	NOUN
cblr-1695	685	22	)	)	PUNCT
cblr-1695	685	23	,	,	PUNCT
cblr-1695	685	24	which	which	PRON
cblr-1695	685	25	is	be	AUX
cblr-1695	685	26	in	in	ADP
cblr-1695	685	27	line	line	NOUN
cblr-1695	685	28	with	with	ADP
cblr-1695	685	29	this	this	DET
cblr-1695	685	30	metric	metric	NOUN
cblr-1695	685	31	from	from	ADP
cblr-1695	685	32	2016	2016	NUM
cblr-1695	685	33	.	.	PUNCT
cblr-1695	686	1	187	187	NUM
cblr-1695	686	2	the	the	DET
cblr-1695	686	3	ipo	ipo	PROPN
cblr-1695	686	4	of	of	ADP
cblr-1695	686	5	axa	axa	PROPN
cblr-1695	686	6	equitable	equitable	ADJ
cblr-1695	686	7	holdings	holding	NOUN
cblr-1695	686	8	(	(	PUNCT
cblr-1695	686	9	nyse	nyse	NOUN
cblr-1695	686	10	ticker	ticker	NOUN
cblr-1695	686	11	symbol	symbol	NOUN
cblr-1695	686	12	:	:	PUNCT
cblr-1695	686	13	eqh	eqh	NOUN
cblr-1695	686	14	)	)	PUNCT
cblr-1695	686	15	in	in	ADP
cblr-1695	686	16	may	may	PROPN
cblr-1695	686	17	2018	2018	NUM
cblr-1695	686	18	serves	serve	VERB
cblr-1695	686	19	as	as	ADP
cblr-1695	686	20	a	a	DET
cblr-1695	686	21	bit	bit	NOUN
cblr-1695	686	22	of	of	ADP
cblr-1695	686	23	an	an	DET
cblr-1695	686	24	outlier	outlier	NOUN
cblr-1695	686	25	.	.	PUNCT
cblr-1695	687	1	it	it	PRON
cblr-1695	687	2	alone	alone	ADV
cblr-1695	687	3	raised	raise	VERB
cblr-1695	687	4	$	$	SYM
cblr-1695	687	5	2.75	2.75	NUM
cblr-1695	687	6	billion	billion	NUM
cblr-1695	687	7	,	,	PUNCT
cblr-1695	687	8	almost	almost	ADV
cblr-1695	687	9	double	double	DET
cblr-1695	687	10	the	the	DET
cblr-1695	687	11	next	next	ADJ
cblr-1695	687	12	highest	high	ADJ
cblr-1695	687	13	2018	2018	NUM
cblr-1695	687	14	ipo	ipo	NOUN
cblr-1695	687	15	,	,	PUNCT
cblr-1695	687	16	which	which	PRON
cblr-1695	687	17	raised	raise	VERB
cblr-1695	687	18	$	$	SYM
cblr-1695	687	19	1.47	1.47	NUM
cblr-1695	687	20	billion	billion	NUM
cblr-1695	687	21	.	.	PUNCT
cblr-1695	688	1	still	still	ADV
cblr-1695	688	2	,	,	PUNCT
cblr-1695	688	3	even	even	ADV
cblr-1695	688	4	without	without	ADP
cblr-1695	688	5	axa	axa	PROPN
cblr-1695	688	6	,	,	PUNCT
cblr-1695	688	7	the	the	DET
cblr-1695	688	8	average	average	ADJ
cblr-1695	688	9	non	non	ADJ
cblr-1695	688	10	-	-	ADJ
cblr-1695	688	11	egc	egc	ADJ
cblr-1695	688	12	ipo	ipo	NOUN
cblr-1695	688	13	in	in	ADP
cblr-1695	688	14	the	the	DET
cblr-1695	688	15	first	first	ADJ
cblr-1695	688	16	half	half	NOUN
cblr-1695	688	17	of	of	ADP
cblr-1695	688	18	2018	2018	NUM
cblr-1695	688	19	raised	raise	VERB
cblr-1695	688	20	$	$	SYM
cblr-1695	688	21	957	957	NUM
cblr-1695	688	22	million	million	NUM
cblr-1695	688	23	,	,	PUNCT
cblr-1695	688	24	which	which	PRON
cblr-1695	688	25	is	be	AUX
cblr-1695	688	26	more	more	ADJ
cblr-1695	688	27	than	than	ADP
cblr-1695	688	28	six	six	NUM
cblr-1695	688	29	times	time	NOUN
cblr-1695	688	30	the	the	DET
cblr-1695	688	31	average	average	ADJ
cblr-1695	688	32	egc	egc	PROPN
cblr-1695	688	33	ipo	ipo	PROPN
cblr-1695	688	34	.	.	PUNCT
cblr-1695	689	1	no	no	INTJ
cblr-1695	689	2	.	.	PUNCT
cblr-1695	690	1	1:305	1:305	NUM
cblr-1695	690	2	]	]	X
cblr-1695	690	3	going	go	VERB
cblr-1695	690	4	public	public	ADJ
cblr-1695	690	5	secretly	secretly	ADV
cblr-1695	690	6	351	351	NUM
cblr-1695	690	7	companies	company	NOUN
cblr-1695	690	8	with	with	ADP
cblr-1695	690	9	$	$	SYM
cblr-1695	690	10	1.07	1.07	NUM
cblr-1695	690	11	billion	billion	NUM
cblr-1695	690	12	or	or	CCONJ
cblr-1695	690	13	more	more	ADJ
cblr-1695	690	14	in	in	ADP
cblr-1695	690	15	revenue	revenue	NOUN
cblr-1695	690	16	that	that	PRON
cblr-1695	690	17	are	be	AUX
cblr-1695	690	18	likely	likely	ADJ
cblr-1695	690	19	to	to	PART
cblr-1695	690	20	go	go	VERB
cblr-1695	690	21	public.188	public.188	VERB
cblr-1695	690	22	this	this	PRON
cblr-1695	690	23	is	be	AUX
cblr-1695	690	24	not	not	PART
cblr-1695	690	25	to	to	PART
cblr-1695	690	26	say	say	VERB
cblr-1695	690	27	that	that	SCONJ
cblr-1695	690	28	the	the	DET
cblr-1695	690	29	sec	sec	PROPN
cblr-1695	690	30	should	should	AUX
cblr-1695	690	31	not	not	PART
cblr-1695	690	32	focus	focus	VERB
cblr-1695	690	33	on	on	ADP
cblr-1695	690	34	policies	policy	NOUN
cblr-1695	690	35	that	that	PRON
cblr-1695	690	36	encourage	encourage	VERB
cblr-1695	690	37	non	non	ADJ
cblr-1695	690	38	-	-	ADJ
cblr-1695	690	39	egcs	egcs	ADJ
cblr-1695	690	40	to	to	PART
cblr-1695	690	41	go	go	VERB
cblr-1695	690	42	public	public	ADJ
cblr-1695	690	43	.	.	PUNCT
cblr-1695	691	1	instead	instead	ADV
cblr-1695	691	2	,	,	PUNCT
cblr-1695	691	3	the	the	DET
cblr-1695	691	4	sec	sec	PROPN
cblr-1695	691	5	’s	’s	PART
cblr-1695	691	6	capital	capital	NOUN
cblr-1695	691	7	markets	market	NOUN
cblr-1695	691	8	policy	policy	NOUN
cblr-1695	691	9	should	should	AUX
cblr-1695	691	10	embody	embody	VERB
cblr-1695	691	11	twin	twin	ADJ
cblr-1695	691	12	aims	aim	NOUN
cblr-1695	691	13	:	:	PUNCT
cblr-1695	691	14	1	1	X
cblr-1695	691	15	)	)	PUNCT
cblr-1695	691	16	boost	boost	VERB
cblr-1695	691	17	egc	egc	ADJ
cblr-1695	691	18	ipos	ipos	NOUN
cblr-1695	691	19	in	in	ADP
cblr-1695	691	20	order	order	NOUN
cblr-1695	691	21	to	to	PART
cblr-1695	691	22	increase	increase	VERB
cblr-1695	691	23	the	the	DET
cblr-1695	691	24	number	number	NOUN
cblr-1695	691	25	of	of	ADP
cblr-1695	691	26	public	public	ADJ
cblr-1695	691	27	companies	company	NOUN
cblr-1695	691	28	,	,	PUNCT
cblr-1695	691	29	and	and	CCONJ
cblr-1695	691	30	2	2	X
cblr-1695	691	31	)	)	PUNCT
cblr-1695	691	32	incentivize	incentivize	VERB
cblr-1695	691	33	non	non	ADJ
cblr-1695	691	34	-	-	ADJ
cblr-1695	691	35	egc	egc	ADJ
cblr-1695	691	36	ipos	ipos	NOUN
cblr-1695	691	37	in	in	ADP
cblr-1695	691	38	order	order	NOUN
cblr-1695	691	39	to	to	PART
cblr-1695	691	40	inject	inject	VERB
cblr-1695	691	41	a	a	DET
cblr-1695	691	42	higher	high	ADJ
cblr-1695	691	43	amount	amount	NOUN
cblr-1695	691	44	of	of	ADP
cblr-1695	691	45	capital	capital	NOUN
cblr-1695	691	46	into	into	ADP
cblr-1695	691	47	the	the	DET
cblr-1695	691	48	public	public	ADJ
cblr-1695	691	49	markets	market	NOUN
cblr-1695	691	50	.	.	PUNCT
cblr-1695	692	1	because	because	SCONJ
cblr-1695	692	2	these	these	DET
cblr-1695	692	3	two	two	NUM
cblr-1695	692	4	metrics	metric	NOUN
cblr-1695	692	5	measure	measure	VERB
cblr-1695	692	6	different	different	ADJ
cblr-1695	692	7	aspects	aspect	NOUN
cblr-1695	692	8	of	of	ADP
cblr-1695	692	9	the	the	DET
cblr-1695	692	10	capital	capital	NOUN
cblr-1695	692	11	markets	market	NOUN
cblr-1695	692	12	,	,	PUNCT
cblr-1695	692	13	both	both	PRON
cblr-1695	692	14	can	can	AUX
cblr-1695	692	15	and	and	CCONJ
cblr-1695	692	16	should	should	AUX
cblr-1695	692	17	be	be	AUX
cblr-1695	692	18	used	use	VERB
cblr-1695	692	19	to	to	PART
cblr-1695	692	20	stimulate	stimulate	VERB
cblr-1695	692	21	complimentary	complimentary	ADJ
cblr-1695	692	22	facets	facet	NOUN
cblr-1695	692	23	of	of	ADP
cblr-1695	692	24	the	the	DET
cblr-1695	692	25	economy	economy	NOUN
cblr-1695	692	26	and	and	CCONJ
cblr-1695	692	27	increase	increase	VERB
cblr-1695	692	28	overall	overall	ADJ
cblr-1695	692	29	activity	activity	NOUN
cblr-1695	692	30	in	in	ADP
cblr-1695	692	31	the	the	DET
cblr-1695	692	32	public	public	ADJ
cblr-1695	692	33	markets	market	NOUN
cblr-1695	692	34	.	.	PUNCT
cblr-1695	693	1	but	but	CCONJ
cblr-1695	693	2	,	,	PUNCT
cblr-1695	693	3	the	the	DET
cblr-1695	693	4	ability	ability	NOUN
cblr-1695	693	5	to	to	PART
cblr-1695	693	6	confidentially	confidentially	ADV
cblr-1695	693	7	file	file	VERB
cblr-1695	693	8	a	a	DET
cblr-1695	693	9	drs	drs	NOUN
cblr-1695	693	10	is	be	AUX
cblr-1695	693	11	simply	simply	ADV
cblr-1695	693	12	not	not	PART
cblr-1695	693	13	enough	enough	ADJ
cblr-1695	693	14	of	of	ADP
cblr-1695	693	15	a	a	DET
cblr-1695	693	16	carrot	carrot	NOUN
cblr-1695	693	17	to	to	PART
cblr-1695	693	18	make	make	VERB
cblr-1695	693	19	non	non	ADJ
cblr-1695	693	20	-	-	ADJ
cblr-1695	693	21	egcs	egcs	ADJ
cblr-1695	693	22	walk	walk	NOUN
cblr-1695	693	23	where	where	SCONJ
cblr-1695	693	24	the	the	DET
cblr-1695	693	25	sec	sec	PROPN
cblr-1695	693	26	wants	want	VERB
cblr-1695	693	27	them	they	PRON
cblr-1695	693	28	to	to	PART
cblr-1695	693	29	.	.	PUNCT
cblr-1695	694	1	it	it	PRON
cblr-1695	694	2	may	may	AUX
cblr-1695	694	3	not	not	PART
cblr-1695	694	4	even	even	ADV
cblr-1695	694	5	have	have	AUX
cblr-1695	694	6	been	be	AUX
cblr-1695	694	7	enough	enough	ADJ
cblr-1695	694	8	to	to	PART
cblr-1695	694	9	make	make	VERB
cblr-1695	694	10	egcs	egcs	ADJ
cblr-1695	694	11	walk	walk	VERB
cblr-1695	694	12	anywhere.189	anywhere.189	NOUN
cblr-1695	694	13	because	because	SCONJ
cblr-1695	694	14	the	the	DET
cblr-1695	694	15	confidential	confidential	ADJ
cblr-1695	694	16	drs	drs	ADJ
cblr-1695	694	17	process	process	NOUN
cblr-1695	694	18	has	have	AUX
cblr-1695	694	19	failed	fail	VERB
cblr-1695	694	20	to	to	PART
cblr-1695	694	21	conclusively	conclusively	ADV
cblr-1695	694	22	generate	generate	VERB
cblr-1695	694	23	an	an	DET
cblr-1695	694	24	increase	increase	NOUN
cblr-1695	694	25	in	in	ADP
cblr-1695	694	26	ipos	ipos	NOUN
cblr-1695	694	27	,	,	PUNCT
cblr-1695	694	28	the	the	DET
cblr-1695	694	29	sec	sec	PROPN
cblr-1695	694	30	must	must	AUX
cblr-1695	694	31	shift	shift	VERB
cblr-1695	694	32	its	its	PRON
cblr-1695	694	33	focus	focus	NOUN
cblr-1695	694	34	away	away	ADV
cblr-1695	694	35	from	from	ADP
cblr-1695	694	36	such	such	ADJ
cblr-1695	694	37	efforts	effort	NOUN
cblr-1695	694	38	.	.	PUNCT
cblr-1695	695	1	to	to	PART
cblr-1695	695	2	effect	effect	VERB
cblr-1695	695	3	real	real	ADJ
cblr-1695	695	4	change	change	NOUN
cblr-1695	695	5	,	,	PUNCT
cblr-1695	695	6	the	the	DET
cblr-1695	695	7	sec	sec	PROPN
cblr-1695	695	8	must	must	AUX
cblr-1695	695	9	stop	stop	VERB
cblr-1695	695	10	focusing	focus	VERB
cblr-1695	695	11	on	on	ADP
cblr-1695	695	12	attempts	attempt	NOUN
cblr-1695	695	13	to	to	PART
cblr-1695	695	14	make	make	VERB
cblr-1695	695	15	the	the	DET
cblr-1695	695	16	process	process	NOUN
cblr-1695	695	17	of	of	ADP
cblr-1695	695	18	becoming	become	VERB
cblr-1695	695	19	a	a	DET
cblr-1695	695	20	public	public	ADJ
cblr-1695	695	21	company	company	NOUN
cblr-1695	695	22	more	more	ADV
cblr-1695	695	23	appealing	appealing	ADJ
cblr-1695	695	24	—	—	PUNCT
cblr-1695	695	25	which	which	PRON
cblr-1695	695	26	is	be	AUX
cblr-1695	695	27	what	what	PRON
cblr-1695	695	28	the	the	DET
cblr-1695	695	29	confidential	confidential	ADJ
cblr-1695	695	30	drs	drs	ADJ
cblr-1695	695	31	process	process	NOUN
cblr-1695	695	32	does	do	VERB
cblr-1695	695	33	188	188	NUM
cblr-1695	695	34	the	the	DET
cblr-1695	695	35	largest	large	ADJ
cblr-1695	695	36	225	225	NUM
cblr-1695	695	37	private	private	ADJ
cblr-1695	695	38	companies	company	NOUN
cblr-1695	695	39	in	in	ADP
cblr-1695	695	40	the	the	DET
cblr-1695	695	41	united	united	PROPN
cblr-1695	695	42	states	states	PROPN
cblr-1695	695	43	have	have	VERB
cblr-1695	695	44	revenues	revenue	NOUN
cblr-1695	695	45	that	that	PRON
cblr-1695	695	46	range	range	VERB
cblr-1695	695	47	from	from	ADP
cblr-1695	695	48	$	$	SYM
cblr-1695	695	49	2	2	NUM
cblr-1695	695	50	billion	billion	NUM
cblr-1695	695	51	to	to	PART
cblr-1695	695	52	$	$	SYM
cblr-1695	695	53	109.7	109.7	NUM
cblr-1695	695	54	billion	billion	NUM
cblr-1695	695	55	,	,	PUNCT
cblr-1695	695	56	though	though	SCONJ
cblr-1695	695	57	it	it	PRON
cblr-1695	695	58	is	be	AUX
cblr-1695	695	59	unclear	unclear	ADJ
cblr-1695	695	60	whether	whether	SCONJ
cblr-1695	695	61	this	this	DET
cblr-1695	695	62	metric	metric	NOUN
cblr-1695	695	63	is	be	AUX
cblr-1695	695	64	based	base	VERB
cblr-1695	695	65	off	off	ADP
cblr-1695	695	66	of	of	ADP
cblr-1695	695	67	the	the	DET
cblr-1695	695	68	company	company	NOUN
cblr-1695	695	69	’s	’s	PART
cblr-1695	695	70	latest	late	ADJ
cblr-1695	695	71	fiscal	fiscal	ADJ
cblr-1695	695	72	year	year	NOUN
cblr-1695	695	73	or	or	CCONJ
cblr-1695	695	74	not	not	PART
cblr-1695	695	75	.	.	PUNCT
cblr-1695	696	1	america	america	PROPN
cblr-1695	696	2	’s	’s	PART
cblr-1695	696	3	largest	large	ADJ
cblr-1695	696	4	private	private	ADJ
cblr-1695	696	5	companies	company	NOUN
cblr-1695	696	6	,	,	PUNCT
cblr-1695	696	7	forbes	forbes	PROPN
cblr-1695	696	8	,	,	PUNCT
cblr-1695	696	9	https://www.forbes.com/	https://www.forbes.com/	NOUN
cblr-1695	696	10	largest	largest	ADV
cblr-1695	696	11	-	-	PUNCT
cblr-1695	696	12	private	private	ADJ
cblr-1695	696	13	-	-	PUNCT
cblr-1695	696	14	companies	company	NOUN
cblr-1695	696	15	/	/	SYM
cblr-1695	696	16	list/	list/	NUM
cblr-1695	696	17	[	[	X
cblr-1695	696	18	https://perma.cc/p4n6-gfdp	https://perma.cc/p4n6-gfdp	X
cblr-1695	696	19	]	]	PUNCT
cblr-1695	696	20	.	.	PUNCT
cblr-1695	697	1	however	however	ADV
cblr-1695	697	2	,	,	PUNCT
cblr-1695	697	3	many	many	ADJ
cblr-1695	697	4	of	of	ADP
cblr-1695	697	5	these	these	PRON
cblr-1695	697	6	are	be	AUX
cblr-1695	697	7	entities	entity	NOUN
cblr-1695	697	8	—	—	PUNCT
cblr-1695	697	9	such	such	ADJ
cblr-1695	697	10	as	as	ADP
cblr-1695	697	11	law	law	NOUN
cblr-1695	697	12	firms	firm	NOUN
cblr-1695	697	13	—	—	PUNCT
cblr-1695	697	14	that	that	PRON
cblr-1695	697	15	are	be	AUX
cblr-1695	697	16	unlikely	unlikely	ADJ
cblr-1695	697	17	to	to	PART
cblr-1695	697	18	go	go	VERB
cblr-1695	697	19	public	public	ADJ
cblr-1695	697	20	anytime	anytime	ADV
cblr-1695	697	21	soon	soon	ADV
cblr-1695	697	22	.	.	PUNCT
cblr-1695	698	1	although	although	SCONJ
cblr-1695	698	2	there	there	PRON
cblr-1695	698	3	are	be	VERB
cblr-1695	698	4	other	other	ADJ
cblr-1695	698	5	private	private	ADJ
cblr-1695	698	6	companies	company	NOUN
cblr-1695	698	7	that	that	PRON
cblr-1695	698	8	qualify	qualify	VERB
cblr-1695	698	9	as	as	ADP
cblr-1695	698	10	non	non	ADJ
cblr-1695	698	11	-	-	ADJ
cblr-1695	698	12	egcs	egcs	ADJ
cblr-1695	698	13	besides	besides	SCONJ
cblr-1695	698	14	these	these	DET
cblr-1695	698	15	225	225	NUM
cblr-1695	698	16	,	,	PUNCT
cblr-1695	698	17	in	in	ADP
cblr-1695	698	18	total	total	ADJ
cblr-1695	698	19	non	non	ADJ
cblr-1695	698	20	-	-	ADJ
cblr-1695	698	21	egcs	egcs	ADJ
cblr-1695	698	22	likely	likely	ADV
cblr-1695	698	23	make	make	VERB
cblr-1695	698	24	up	up	ADP
cblr-1695	698	25	a	a	DET
cblr-1695	698	26	very	very	ADV
cblr-1695	698	27	small	small	ADJ
cblr-1695	698	28	portion	portion	NOUN
cblr-1695	698	29	of	of	ADP
cblr-1695	698	30	the	the	DET
cblr-1695	698	31	millions	million	NOUN
cblr-1695	698	32	of	of	ADP
cblr-1695	698	33	private	private	ADJ
cblr-1695	698	34	companies	company	NOUN
cblr-1695	698	35	.	.	PUNCT
cblr-1695	699	1	in	in	ADP
cblr-1695	699	2	a	a	DET
cblr-1695	699	3	similar	similar	ADJ
cblr-1695	699	4	vein	vein	NOUN
cblr-1695	699	5	,	,	PUNCT
cblr-1695	699	6	the	the	DET
cblr-1695	699	7	wall	wall	PROPN
cblr-1695	699	8	street	street	PROPN
cblr-1695	699	9	journal	journal	PROPN
cblr-1695	699	10	estimates	estimate	VERB
cblr-1695	699	11	that	that	SCONJ
cblr-1695	699	12	there	there	PRON
cblr-1695	699	13	are	be	VERB
cblr-1695	699	14	only	only	ADV
cblr-1695	699	15	153	153	NUM
cblr-1695	699	16	venture	venture	NOUN
cblr-1695	699	17	-	-	PUNCT
cblr-1695	699	18	backed	back	VERB
cblr-1695	699	19	american	american	ADJ
cblr-1695	699	20	private	private	ADJ
cblr-1695	699	21	companies	company	NOUN
cblr-1695	699	22	valued	value	VERB
cblr-1695	699	23	at	at	ADP
cblr-1695	699	24	$	$	SYM
cblr-1695	699	25	1	1	NUM
cblr-1695	699	26	billion	billion	NUM
cblr-1695	699	27	or	or	CCONJ
cblr-1695	699	28	more	more	ADJ
cblr-1695	699	29	.	.	PUNCT
cblr-1695	700	1	scott	scott	PROPN
cblr-1695	700	2	austin	austin	PROPN
cblr-1695	700	3	,	,	PUNCT
cblr-1695	700	4	chris	chris	PROPN
cblr-1695	700	5	canipe	canipe	PROPN
cblr-1695	700	6	&	&	CCONJ
cblr-1695	700	7	sarah	sarah	PROPN
cblr-1695	700	8	slobin	slobin	PROPN
cblr-1695	700	9	,	,	PUNCT
cblr-1695	700	10	the	the	DET
cblr-1695	700	11	billion	billion	NUM
cblr-1695	700	12	dollar	dollar	NOUN
cblr-1695	700	13	startup	startup	NOUN
cblr-1695	700	14	club	club	NOUN
cblr-1695	700	15	,	,	PUNCT
cblr-1695	700	16	wall	wall	PROPN
cblr-1695	700	17	st	st	PROPN
cblr-1695	700	18	.	.	PROPN
cblr-1695	700	19	j.	j.	PROPN
cblr-1695	700	20	(	(	PUNCT
cblr-1695	700	21	feb	feb	PROPN
cblr-1695	700	22	.	.	PROPN
cblr-1695	700	23	18	18	NUM
cblr-1695	700	24	,	,	PUNCT
cblr-1695	700	25	2015	2015	NUM
cblr-1695	700	26	)	)	PUNCT
cblr-1695	700	27	,	,	PUNCT
cblr-1695	700	28	https://www.wsj.com/graphics/billion-dollar-club/	https://www.wsj.com/graphics/billion-dollar-club/	NOUN
cblr-1695	700	29	(	(	PUNCT
cblr-1695	700	30	on	on	ADP
cblr-1695	700	31	file	file	NOUN
cblr-1695	700	32	with	with	ADP
cblr-1695	700	33	the	the	DET
cblr-1695	700	34	columbia	columbia	PROPN
cblr-1695	700	35	business	business	PROPN
cblr-1695	700	36	law	law	PROPN
cblr-1695	700	37	review	review	PROPN
cblr-1695	700	38	)	)	PUNCT
cblr-1695	700	39	(	(	PUNCT
cblr-1695	700	40	last	last	ADJ
cblr-1695	700	41	updated	update	VERB
cblr-1695	700	42	jan	jan	PROPN
cblr-1695	700	43	.	.	PROPN
cblr-1695	700	44	2019	2019	NUM
cblr-1695	700	45	)	)	PUNCT
cblr-1695	700	46	.	.	PUNCT
cblr-1695	701	1	nonetheless	nonetheless	ADV
cblr-1695	701	2	,	,	PUNCT
cblr-1695	701	3	valuation	valuation	NOUN
cblr-1695	701	4	is	be	AUX
cblr-1695	701	5	not	not	PART
cblr-1695	701	6	solely	solely	ADV
cblr-1695	701	7	based	base	VERB
cblr-1695	701	8	on	on	ADP
cblr-1695	701	9	past	past	ADJ
cblr-1695	701	10	revenues	revenue	NOUN
cblr-1695	701	11	,	,	PUNCT
cblr-1695	701	12	and	and	CCONJ
cblr-1695	701	13	,	,	PUNCT
cblr-1695	701	14	in	in	ADP
cblr-1695	701	15	fact	fact	NOUN
cblr-1695	701	16	,	,	PUNCT
cblr-1695	701	17	many	many	ADJ
cblr-1695	701	18	of	of	ADP
cblr-1695	701	19	these	these	DET
cblr-1695	701	20	entities	entity	NOUN
cblr-1695	701	21	would	would	AUX
cblr-1695	701	22	qualify	qualify	VERB
cblr-1695	701	23	as	as	ADP
cblr-1695	701	24	egcs	egcs	ADJ
cblr-1695	701	25	because	because	SCONJ
cblr-1695	701	26	their	their	PRON
cblr-1695	701	27	latest	late	ADJ
cblr-1695	701	28	annual	annual	ADJ
cblr-1695	701	29	revenues	revenue	NOUN
cblr-1695	701	30	were	be	AUX
cblr-1695	701	31	below	below	ADP
cblr-1695	701	32	$	$	SYM
cblr-1695	701	33	1.07	1.07	NUM
cblr-1695	701	34	billion	billion	NUM
cblr-1695	701	35	.	.	PUNCT
cblr-1695	702	1	see	see	VERB
cblr-1695	702	2	i	i	PRON
cblr-1695	702	3	d.	d.	PROPN
cblr-1695	702	4	189	189	NUM
cblr-1695	702	5	see	see	VERB
cblr-1695	702	6	the	the	DET
cblr-1695	702	7	inconclusive	inconclusive	ADJ
cblr-1695	702	8	results	result	NOUN
cblr-1695	702	9	of	of	ADP
cblr-1695	702	10	the	the	DET
cblr-1695	702	11	jobs	job	NOUN
cblr-1695	702	12	act	act	NOUN
cblr-1695	702	13	discussed	discuss	VERB
cblr-1695	702	14	supra	supra	PROPN
cblr-1695	702	15	section	section	PROPN
cblr-1695	702	16	iii.a	iii.a	PROPN
cblr-1695	702	17	.	.	PROPN
cblr-1695	703	1	352	352	NUM
cblr-1695	703	2	columbia	columbia	PROPN
cblr-1695	703	3	business	business	NOUN
cblr-1695	703	4	law	law	PROPN
cblr-1695	703	5	review	review	NOUN
cblr-1695	703	6	[	[	X
cblr-1695	703	7	vol	vol	NOUN
cblr-1695	703	8	.	.	NOUN
cblr-1695	703	9	2019	2019	NUM
cblr-1695	703	10	for	for	ADP
cblr-1695	703	11	egcs	egcs	ADJ
cblr-1695	703	12	and	and	CCONJ
cblr-1695	703	13	non	non	ADJ
cblr-1695	703	14	-	-	ADJ
cblr-1695	703	15	egcs	egcs	ADJ
cblr-1695	703	16	—	—	PUNCT
cblr-1695	703	17	and	and	CCONJ
cblr-1695	703	18	instead	instead	ADV
cblr-1695	703	19	implement	implement	VERB
cblr-1695	703	20	policies	policy	NOUN
cblr-1695	703	21	that	that	PRON
cblr-1695	703	22	make	make	VERB
cblr-1695	703	23	being	be	AUX
cblr-1695	703	24	a	a	DET
cblr-1695	703	25	public	public	ADJ
cblr-1695	703	26	company	company	NOUN
cblr-1695	703	27	more	more	ADV
cblr-1695	703	28	attractive	attractive	ADJ
cblr-1695	703	29	.	.	PUNCT
cblr-1695	704	1	b.	b.	NOUN
cblr-1695	704	2	promoting	promote	VERB
cblr-1695	704	3	equality	equality	NOUN
cblr-1695	704	4	via	via	ADP
cblr-1695	704	5	the	the	DET
cblr-1695	704	6	public	public	ADJ
cblr-1695	704	7	markets	market	NOUN
cblr-1695	704	8	before	before	ADP
cblr-1695	704	9	delving	delve	VERB
cblr-1695	704	10	into	into	ADP
cblr-1695	704	11	proposals	proposal	NOUN
cblr-1695	704	12	aimed	aim	VERB
cblr-1695	704	13	at	at	ADP
cblr-1695	704	14	effectuating	effectuate	VERB
cblr-1695	704	15	more	more	ADJ
cblr-1695	704	16	ipos,190	ipos,190	ADP
cblr-1695	704	17	it	it	PRON
cblr-1695	704	18	is	be	AUX
cblr-1695	704	19	necessary	necessary	ADJ
cblr-1695	704	20	to	to	PART
cblr-1695	704	21	first	first	ADV
cblr-1695	704	22	understand	understand	VERB
cblr-1695	704	23	why	why	SCONJ
cblr-1695	704	24	such	such	DET
cblr-1695	704	25	a	a	DET
cblr-1695	704	26	goal	goal	NOUN
cblr-1695	704	27	is	be	AUX
cblr-1695	704	28	important	important	ADJ
cblr-1695	704	29	.	.	PUNCT
cblr-1695	705	1	why	why	SCONJ
cblr-1695	705	2	does	do	AUX
cblr-1695	705	3	the	the	DET
cblr-1695	705	4	economy	economy	NOUN
cblr-1695	705	5	need	need	VERB
cblr-1695	705	6	public	public	ADJ
cblr-1695	705	7	companies	company	NOUN
cblr-1695	705	8	?	?	PUNCT
cblr-1695	706	1	why	why	SCONJ
cblr-1695	706	2	should	should	AUX
cblr-1695	706	3	economic	economic	ADJ
cblr-1695	706	4	policy	policy	NOUN
cblr-1695	706	5	seek	seek	VERB
cblr-1695	706	6	to	to	PART
cblr-1695	706	7	encourage	encourage	VERB
cblr-1695	706	8	firms	firm	NOUN
cblr-1695	706	9	to	to	PART
cblr-1695	706	10	enter	enter	VERB
cblr-1695	706	11	the	the	DET
cblr-1695	706	12	public	public	ADJ
cblr-1695	706	13	markets	market	NOUN
cblr-1695	706	14	?	?	PUNCT
cblr-1695	707	1	in	in	ADP
cblr-1695	707	2	short	short	ADJ
cblr-1695	707	3	,	,	PUNCT
cblr-1695	707	4	who	who	PRON
cblr-1695	707	5	cares	care	VERB
cblr-1695	707	6	?	?	PUNCT
cblr-1695	708	1	the	the	DET
cblr-1695	708	2	ipo	ipo	PROPN
cblr-1695	708	3	market	market	NOUN
cblr-1695	708	4	has	have	AUX
cblr-1695	708	5	steadily	steadily	ADV
cblr-1695	708	6	dried	dry	VERB
cblr-1695	708	7	up	up	ADP
cblr-1695	708	8	over	over	ADP
cblr-1695	708	9	the	the	DET
cblr-1695	708	10	past	past	ADJ
cblr-1695	708	11	two	two	NUM
cblr-1695	708	12	decades	decade	NOUN
cblr-1695	708	13	.	.	PUNCT
cblr-1695	709	1	where	where	SCONJ
cblr-1695	709	2	,	,	PUNCT
cblr-1695	709	3	according	accord	VERB
cblr-1695	709	4	to	to	ADP
cblr-1695	709	5	one	one	NUM
cblr-1695	709	6	study	study	NOUN
cblr-1695	709	7	,	,	PUNCT
cblr-1695	709	8	there	there	PRON
cblr-1695	709	9	was	be	VERB
cblr-1695	709	10	an	an	DET
cblr-1695	709	11	annual	annual	ADJ
cblr-1695	709	12	average	average	NOUN
cblr-1695	709	13	of	of	ADP
cblr-1695	709	14	310	310	NUM
cblr-1695	709	15	ipos	ipos	NOUN
cblr-1695	709	16	from	from	ADP
cblr-1695	709	17	1980–2000	1980–2000	NUM
cblr-1695	709	18	,	,	PUNCT
cblr-1695	709	19	this	this	PRON
cblr-1695	709	20	drastically	drastically	ADV
cblr-1695	709	21	decreased	decrease	VERB
cblr-1695	709	22	to	to	ADP
cblr-1695	709	23	an	an	DET
cblr-1695	709	24	average	average	NOUN
cblr-1695	709	25	of	of	ADP
cblr-1695	709	26	ninety	ninety	NUM
cblr-1695	709	27	-	-	PUNCT
cblr-1695	709	28	nine	nine	NUM
cblr-1695	709	29	ipos	ipos	NOUN
cblr-1695	709	30	from	from	ADP
cblr-1695	709	31	2001	2001	NUM
cblr-1695	709	32	–	–	PUNCT
cblr-1695	709	33	2012.191	2012.191	NUM
cblr-1695	709	34	one	one	NUM
cblr-1695	709	35	leading	leading	ADJ
cblr-1695	709	36	cause	cause	NOUN
cblr-1695	709	37	of	of	ADP
cblr-1695	709	38	this	this	PRON
cblr-1695	709	39	is	be	AUX
cblr-1695	709	40	that	that	SCONJ
cblr-1695	709	41	alternative	alternative	ADJ
cblr-1695	709	42	sources	source	NOUN
cblr-1695	709	43	of	of	ADP
cblr-1695	709	44	financing	financing	NOUN
cblr-1695	709	45	to	to	ADP
cblr-1695	709	46	the	the	DET
cblr-1695	709	47	public	public	ADJ
cblr-1695	709	48	markets	market	NOUN
cblr-1695	709	49	have	have	AUX
cblr-1695	709	50	ballooned	balloon	VERB
cblr-1695	709	51	in	in	ADP
cblr-1695	709	52	recent	recent	ADJ
cblr-1695	709	53	years	year	NOUN
cblr-1695	709	54	.	.	PUNCT
cblr-1695	710	1	in	in	ADP
cblr-1695	710	2	discussing	discuss	VERB
cblr-1695	710	3	the	the	DET
cblr-1695	710	4	ipo	ipo	NOUN
cblr-1695	710	5	decrease	decrease	NOUN
cblr-1695	710	6	,	,	PUNCT
cblr-1695	710	7	a	a	DET
cblr-1695	710	8	member	member	NOUN
cblr-1695	710	9	of	of	ADP
cblr-1695	710	10	the	the	DET
cblr-1695	710	11	sec	sec	PROPN
cblr-1695	710	12	small	small	ADJ
cblr-1695	710	13	and	and	CCONJ
cblr-1695	710	14	emerging	emerge	VERB
cblr-1695	710	15	companies	company	NOUN
cblr-1695	710	16	advisory	advisory	ADJ
cblr-1695	710	17	committee	committee	NOUN
cblr-1695	710	18	highlighted	highlight	VERB
cblr-1695	710	19	the	the	DET
cblr-1695	710	20	“	"	PUNCT
cblr-1695	710	21	large	large	ADJ
cblr-1695	710	22	amounts	amount	NOUN
cblr-1695	710	23	of	of	ADP
cblr-1695	710	24	private	private	ADJ
cblr-1695	710	25	capital	capital	NOUN
cblr-1695	710	26	”	"	PUNCT
cblr-1695	710	27	as	as	SCONJ
cblr-1695	710	28	a	a	DET
cblr-1695	710	29	cause.192	cause.192	NOUN
cblr-1695	710	30	private	private	ADJ
cblr-1695	710	31	assets	asset	NOUN
cblr-1695	710	32	under	under	ADP
cblr-1695	710	33	management	management	NOUN
cblr-1695	710	34	totaled	total	VERB
cblr-1695	710	35	less	less	ADJ
cblr-1695	710	36	than	than	ADP
cblr-1695	710	37	$	$	SYM
cblr-1695	710	38	1	1	NUM
cblr-1695	710	39	trillion	trillion	NUM
cblr-1695	710	40	in	in	ADP
cblr-1695	710	41	2000	2000	NUM
cblr-1695	710	42	,	,	PUNCT
cblr-1695	710	43	but	but	CCONJ
cblr-1695	710	44	surpassed	surpass	VERB
cblr-1695	710	45	$	$	SYM
cblr-1695	710	46	5	5	NUM
cblr-1695	710	47	trillion	trillion	NUM
cblr-1695	710	48	in	in	ADP
cblr-1695	710	49	2017.193	2017.193	NUM
cblr-1695	710	50	as	as	ADP
cblr-1695	710	51	such	such	ADJ
cblr-1695	710	52	,	,	PUNCT
cblr-1695	710	53	“	"	PUNCT
cblr-1695	710	54	many	many	ADJ
cblr-1695	710	55	companies	company	NOUN
cblr-1695	710	56	no	no	ADV
cblr-1695	710	57	longer	long	ADV
cblr-1695	710	58	need	need	VERB
cblr-1695	710	59	an	an	DET
cblr-1695	710	60	ipo	ipo	NOUN
cblr-1695	710	61	to	to	PART
cblr-1695	710	62	raise	raise	VERB
cblr-1695	710	63	capital	capital	NOUN
cblr-1695	710	64	”	"	PUNCT
cblr-1695	710	65	because	because	SCONJ
cblr-1695	710	66	there	there	PRON
cblr-1695	710	67	is	be	VERB
cblr-1695	710	68	“	"	PUNCT
cblr-1695	710	69	plenty	plenty	NOUN
cblr-1695	710	70	of	of	ADP
cblr-1695	710	71	private	private	ADJ
cblr-1695	710	72	cash	cash	NOUN
cblr-1695	710	73	to	to	PART
cblr-1695	710	74	go	go	VERB
cblr-1695	710	75	around	around	ADV
cblr-1695	710	76	.	.	PUNCT
cblr-1695	710	77	”194	”194	PUNCT
cblr-1695	711	1	given	give	VERB
cblr-1695	711	2	this	this	DET
cblr-1695	711	3	reality	reality	NOUN
cblr-1695	711	4	,	,	PUNCT
cblr-1695	711	5	revitalizing	revitalize	VERB
cblr-1695	711	6	the	the	DET
cblr-1695	711	7	ipo	ipo	NOUN
cblr-1695	711	8	market	market	NOUN
cblr-1695	711	9	requires	require	VERB
cblr-1695	711	10	policies	policy	NOUN
cblr-1695	711	11	that	that	PRON
cblr-1695	711	12	make	make	VERB
cblr-1695	711	13	the	the	DET
cblr-1695	711	14	public	public	ADJ
cblr-1695	711	15	markets	market	NOUN
cblr-1695	711	16	more	more	ADV
cblr-1695	711	17	attractive	attractive	ADJ
cblr-1695	711	18	than	than	ADP
cblr-1695	711	19	easilyaccessible	easilyaccessible	ADJ
cblr-1695	711	20	,	,	PUNCT
cblr-1695	711	21	abundant	abundant	ADJ
cblr-1695	711	22	private	private	ADJ
cblr-1695	711	23	capital	capital	NOUN
cblr-1695	711	24	.	.	PUNCT
cblr-1695	712	1	when	when	SCONJ
cblr-1695	712	2	companies	company	NOUN
cblr-1695	712	3	look	look	VERB
cblr-1695	712	4	to	to	PART
cblr-1695	712	5	raise	raise	VERB
cblr-1695	712	6	capital	capital	NOUN
cblr-1695	712	7	through	through	ADP
cblr-1695	712	8	private	private	ADJ
cblr-1695	712	9	investors	investor	NOUN
cblr-1695	712	10	,	,	PUNCT
cblr-1695	712	11	the	the	DET
cblr-1695	712	12	majority	majority	NOUN
cblr-1695	712	13	of	of	ADP
cblr-1695	712	14	americans	americans	PROPN
cblr-1695	712	15	are	be	AUX
cblr-1695	712	16	cut	cut	VERB
cblr-1695	712	17	out	out	ADP
cblr-1695	712	18	of	of	ADP
cblr-1695	712	19	the	the	DET
cblr-1695	712	20	190	190	NUM
cblr-1695	712	21	see	see	NOUN
cblr-1695	712	22	infra	infra	NOUN
cblr-1695	712	23	part	part	NOUN
cblr-1695	712	24	v.	v.	ADP
cblr-1695	712	25	191	191	NUM
cblr-1695	712	26	xiaohui	xiaohui	PROPN
cblr-1695	712	27	gao	gao	PROPN
cblr-1695	712	28	,	,	PUNCT
cblr-1695	712	29	jay	jay	PROPN
cblr-1695	712	30	r.	r.	PROPN
cblr-1695	712	31	ritter	ritter	PROPN
cblr-1695	712	32	&	&	CCONJ
cblr-1695	712	33	zhongyan	zhongyan	PROPN
cblr-1695	712	34	zhu	zhu	PROPN
cblr-1695	712	35	,	,	PUNCT
cblr-1695	712	36	where	where	SCONJ
cblr-1695	712	37	have	have	AUX
cblr-1695	712	38	all	all	DET
cblr-1695	712	39	the	the	DET
cblr-1695	712	40	ipos	ipos	NOUN
cblr-1695	712	41	gone	go	VERB
cblr-1695	712	42	?	?	PUNCT
cblr-1695	712	43	,	,	PUNCT
cblr-1695	712	44	48	48	NUM
cblr-1695	712	45	j.	j.	PROPN
cblr-1695	712	46	fin	fin	PROPN
cblr-1695	712	47	.	.	PUNCT
cblr-1695	712	48	&	&	CCONJ
cblr-1695	712	49	quantitative	quantitative	ADJ
cblr-1695	712	50	analysis	analysis	NOUN
cblr-1695	712	51	1663	1663	NUM
cblr-1695	712	52	,	,	PUNCT
cblr-1695	712	53	1663	1663	NUM
cblr-1695	712	54	(	(	PUNCT
cblr-1695	712	55	2013	2013	NUM
cblr-1695	712	56	)	)	PUNCT
cblr-1695	712	57	.	.	PUNCT
cblr-1695	713	1	192	192	NUM
cblr-1695	713	2	james	james	PROPN
cblr-1695	713	3	a.	a.	PROPN
cblr-1695	713	4	hutchinson	hutchinson	PROPN
cblr-1695	713	5	,	,	PUNCT
cblr-1695	713	6	sec	sec	PROPN
cblr-1695	713	7	small	small	ADJ
cblr-1695	713	8	and	and	CCONJ
cblr-1695	713	9	emerging	emerge	VERB
cblr-1695	713	10	companies	company	NOUN
cblr-1695	713	11	advisory	advisory	ADJ
cblr-1695	713	12	committee	committee	NOUN
cblr-1695	713	13	meeting	meet	VERB
cblr-1695	713	14	122	122	NUM
cblr-1695	713	15	(	(	PUNCT
cblr-1695	713	16	feb	feb	PROPN
cblr-1695	713	17	.	.	PROPN
cblr-1695	713	18	15	15	NUM
cblr-1695	713	19	,	,	PUNCT
cblr-1695	713	20	2017	2017	NUM
cblr-1695	713	21	)	)	PUNCT
cblr-1695	713	22	(	(	PUNCT
cblr-1695	713	23	transcript	transcript	NOUN
cblr-1695	713	24	available	available	ADJ
cblr-1695	713	25	at	at	ADP
cblr-1695	713	26	https://www.sec.gov/info/smallbus/acsec/acsec-transcript-021517.pdf	https://www.sec.gov/info/smallbus/acsec/acsec-transcript-021517.pdf	NOUN
cblr-1695	713	27	[	[	X
cblr-1695	713	28	https://perma.cc/6y8j-6gxd	https://perma.cc/6y8j-6gxd	PROPN
cblr-1695	713	29	]	]	X
cblr-1695	713	30	)	)	PUNCT
cblr-1695	713	31	.	.	PUNCT
cblr-1695	714	1	193	193	NUM
cblr-1695	714	2	frank	frank	ADJ
cblr-1695	714	3	partnoy	partnoy	NOUN
cblr-1695	714	4	,	,	PUNCT
cblr-1695	714	5	the	the	DET
cblr-1695	714	6	death	death	NOUN
cblr-1695	714	7	of	of	ADP
cblr-1695	714	8	the	the	DET
cblr-1695	714	9	ipo	ipo	NOUN
cblr-1695	714	10	,	,	PUNCT
cblr-1695	714	11	atlantic	atlantic	PROPN
cblr-1695	714	12	(	(	PUNCT
cblr-1695	714	13	nov	nov	PROPN
cblr-1695	714	14	.	.	PROPN
cblr-1695	714	15	2018	2018	NUM
cblr-1695	714	16	)	)	PUNCT
cblr-1695	714	17	,	,	PUNCT
cblr-1695	714	18	https://www.theatlantic.com/magazine/archive/2018/11/privateinequity/570808/	https://www.theatlantic.com/magazine/archive/2018/11/privateinequity/570808/	NOUN
cblr-1695	715	1	[	[	X
cblr-1695	715	2	https://perma.cc/nc5x-ueya	https://perma.cc/nc5x-ueya	X
cblr-1695	715	3	]	]	X
cblr-1695	715	4	.	.	PUNCT
cblr-1695	716	1	194	194	NUM
cblr-1695	717	1	i	i	PRON
cblr-1695	717	2	d.	d.	PROPN
cblr-1695	717	3	no	no	INTJ
cblr-1695	717	4	.	.	PUNCT
cblr-1695	718	1	1:305	1:305	X
cblr-1695	718	2	]	]	X
cblr-1695	718	3	going	go	VERB
cblr-1695	718	4	public	public	ADJ
cblr-1695	718	5	secretly	secretly	ADV
cblr-1695	718	6	353	353	NUM
cblr-1695	718	7	equation.195	equation.195	ADV
cblr-1695	718	8	unlike	unlike	ADP
cblr-1695	718	9	public	public	ADJ
cblr-1695	718	10	stock	stock	NOUN
cblr-1695	718	11	markets	market	NOUN
cblr-1695	718	12	,	,	PUNCT
cblr-1695	718	13	private	private	ADJ
cblr-1695	718	14	funds	fund	NOUN
cblr-1695	718	15	typically	typically	ADV
cblr-1695	718	16	require	require	VERB
cblr-1695	718	17	exceedingly	exceedingly	ADV
cblr-1695	718	18	high	high	ADJ
cblr-1695	718	19	minimum	minimum	ADJ
cblr-1695	718	20	investments	investment	NOUN
cblr-1695	718	21	.	.	PUNCT
cblr-1695	719	1	therefore	therefore	ADV
cblr-1695	719	2	,	,	PUNCT
cblr-1695	719	3	“	"	PUNCT
cblr-1695	719	4	[	[	X
cblr-1695	719	5	o]nly	o]nly	ADV
cblr-1695	719	6	the	the	DET
cblr-1695	719	7	very	very	ADV
cblr-1695	719	8	wealthiest	wealthy	ADJ
cblr-1695	719	9	can	can	AUX
cblr-1695	719	10	afford	afford	VERB
cblr-1695	719	11	the	the	DET
cblr-1695	719	12	big	big	ADJ
cblr-1695	719	13	sums	sum	NOUN
cblr-1695	719	14	demanded	demand	VERB
cblr-1695	719	15	for	for	ADP
cblr-1695	719	16	direct	direct	ADJ
cblr-1695	719	17	access	access	NOUN
cblr-1695	719	18	to	to	ADP
cblr-1695	719	19	private	private	ADJ
cblr-1695	719	20	equity	equity	NOUN
cblr-1695	719	21	funds	fund	NOUN
cblr-1695	719	22	run	run	VERB
cblr-1695	719	23	by	by	ADP
cblr-1695	719	24	famous	famous	ADJ
cblr-1695	719	25	names	name	NOUN
cblr-1695	719	26	such	such	ADJ
cblr-1695	719	27	as	as	ADP
cblr-1695	719	28	blackstone	blackstone	NOUN
cblr-1695	719	29	,	,	PUNCT
cblr-1695	719	30	apollo	apollo	PROPN
cblr-1695	719	31	and	and	CCONJ
cblr-1695	719	32	carlyle	carlyle	PROPN
cblr-1695	719	33	,	,	PUNCT
cblr-1695	719	34	which	which	PRON
cblr-1695	719	35	may	may	AUX
cblr-1695	719	36	require	require	VERB
cblr-1695	719	37	a	a	DET
cblr-1695	719	38	minimum	minimum	ADJ
cblr-1695	719	39	investment	investment	NOUN
cblr-1695	719	40	of	of	ADP
cblr-1695	719	41	$	$	SYM
cblr-1695	719	42	1	1	NUM
cblr-1695	719	43	[	[	SYM
cblr-1695	719	44	million	million	NUM
cblr-1695	719	45	]	]	PUNCT
cblr-1695	719	46	,	,	PUNCT
cblr-1695	719	47	$	$	SYM
cblr-1695	719	48	5	5	NUM
cblr-1695	719	49	[	[	SYM
cblr-1695	719	50	million	million	NUM
cblr-1695	719	51	]	]	PUNCT
cblr-1695	719	52	or	or	CCONJ
cblr-1695	719	53	more[.]”196	more[.]”196	ADJ
cblr-1695	719	54	in	in	ADP
cblr-1695	719	55	addition	addition	NOUN
cblr-1695	719	56	to	to	ADP
cblr-1695	719	57	private	private	ADJ
cblr-1695	719	58	restrictions	restriction	NOUN
cblr-1695	719	59	,	,	PUNCT
cblr-1695	719	60	some	some	DET
cblr-1695	719	61	sec	sec	PROPN
cblr-1695	719	62	rules	rule	NOUN
cblr-1695	719	63	also	also	ADV
cblr-1695	719	64	aim	aim	VERB
cblr-1695	719	65	to	to	PART
cblr-1695	719	66	protect	protect	VERB
cblr-1695	719	67	individual	individual	ADJ
cblr-1695	719	68	investors	investor	NOUN
cblr-1695	719	69	from	from	ADP
cblr-1695	719	70	risky	risky	ADJ
cblr-1695	719	71	private	private	ADJ
cblr-1695	719	72	deals	deal	NOUN
cblr-1695	719	73	,	,	PUNCT
cblr-1695	719	74	and	and	CCONJ
cblr-1695	719	75	therefore	therefore	ADV
cblr-1695	719	76	,	,	PUNCT
cblr-1695	719	77	many	many	ADJ
cblr-1695	719	78	times	time	NOUN
cblr-1695	719	79	“	"	PUNCT
cblr-1695	719	80	[	[	X
cblr-1695	719	81	o]nly	o]nly	ADV
cblr-1695	719	82	those	those	PRON
cblr-1695	719	83	who	who	PRON
cblr-1695	719	84	meet	meet	VERB
cblr-1695	719	85	certain	certain	ADJ
cblr-1695	719	86	wealth	wealth	NOUN
cblr-1695	719	87	or	or	CCONJ
cblr-1695	719	88	income	income	NOUN
cblr-1695	719	89	standards	standard	NOUN
cblr-1695	719	90	—	—	PUNCT
cblr-1695	719	91	such	such	ADJ
cblr-1695	719	92	as	as	ADP
cblr-1695	719	93	household	household	NOUN
cblr-1695	719	94	income	income	NOUN
cblr-1695	719	95	of	of	ADP
cblr-1695	719	96	$	$	SYM
cblr-1695	719	97	300,000	300,000	NUM
cblr-1695	719	98	—	—	PUNCT
cblr-1695	719	99	can	can	AUX
cblr-1695	719	100	participate	participate	VERB
cblr-1695	719	101	.	.	PUNCT
cblr-1695	719	102	”197	”197	PUNCT
cblr-1695	719	103	nonetheless	nonetheless	ADV
cblr-1695	719	104	,	,	PUNCT
cblr-1695	719	105	in	in	ADP
cblr-1695	719	106	recent	recent	ADJ
cblr-1695	719	107	years	year	NOUN
cblr-1695	719	108	,	,	PUNCT
cblr-1695	719	109	some	some	DET
cblr-1695	719	110	changes	change	NOUN
cblr-1695	719	111	have	have	AUX
cblr-1695	719	112	been	be	AUX
cblr-1695	719	113	made	make	VERB
cblr-1695	719	114	to	to	PART
cblr-1695	719	115	make	make	VERB
cblr-1695	719	116	private	private	ADJ
cblr-1695	719	117	capital	capital	NOUN
cblr-1695	719	118	more	more	ADV
cblr-1695	719	119	accessible	accessible	ADJ
cblr-1695	719	120	to	to	ADP
cblr-1695	719	121	a	a	DET
cblr-1695	719	122	wider	wide	ADJ
cblr-1695	719	123	range	range	NOUN
cblr-1695	719	124	of	of	ADP
cblr-1695	719	125	investors	investor	NOUN
cblr-1695	719	126	.	.	PUNCT
cblr-1695	720	1	in	in	ADP
cblr-1695	720	2	changing	change	VERB
cblr-1695	720	3	long	long	ADV
cblr-1695	720	4	-	-	PUNCT
cblr-1695	720	5	standing	stand	VERB
cblr-1695	720	6	securities	security	NOUN
cblr-1695	720	7	laws	law	NOUN
cblr-1695	720	8	,	,	PUNCT
cblr-1695	720	9	the	the	DET
cblr-1695	720	10	jobs	job	NOUN
cblr-1695	720	11	act	act	VERB
cblr-1695	720	12	created	create	VERB
cblr-1695	720	13	a	a	DET
cblr-1695	720	14	way	way	NOUN
cblr-1695	720	15	for	for	SCONJ
cblr-1695	720	16	individuals	individual	NOUN
cblr-1695	720	17	to	to	PART
cblr-1695	720	18	invest	invest	VERB
cblr-1695	720	19	in	in	ADP
cblr-1695	720	20	private	private	ADJ
cblr-1695	720	21	companies	company	NOUN
cblr-1695	720	22	through	through	ADP
cblr-1695	720	23	equity	equity	NOUN
cblr-1695	720	24	crowdfunding,198	crowdfunding,198	VERB
cblr-1695	720	25	a	a	DET
cblr-1695	720	26	method	method	NOUN
cblr-1695	720	27	by	by	ADP
cblr-1695	720	28	which	which	PRON
cblr-1695	720	29	companies	company	NOUN
cblr-1695	720	30	can	can	AUX
cblr-1695	720	31	raise	raise	VERB
cblr-1695	720	32	capital	capital	NOUN
cblr-1695	720	33	from	from	ADP
cblr-1695	720	34	average	average	ADJ
cblr-1695	720	35	investors	investor	NOUN
cblr-1695	720	36	online	online	ADV
cblr-1695	720	37	,	,	PUNCT
cblr-1695	720	38	functioning	function	VERB
cblr-1695	720	39	in	in	ADP
cblr-1695	720	40	a	a	DET
cblr-1695	720	41	similar	similar	ADJ
cblr-1695	720	42	way	way	NOUN
cblr-1695	720	43	to	to	ADP
cblr-1695	720	44	kickstarter	kickstarter	PROPN
cblr-1695	720	45	campaigns.199	campaigns.199	VERB
cblr-1695	720	46	despite	despite	SCONJ
cblr-1695	720	47	this	this	PRON
cblr-1695	720	48	,	,	PUNCT
cblr-1695	720	49	many	many	ADJ
cblr-1695	720	50	companies	company	NOUN
cblr-1695	720	51	see	see	VERB
cblr-1695	720	52	equity	equity	NOUN
cblr-1695	720	53	crowdfunding	crowdfunding	NOUN
cblr-1695	720	54	as	as	ADP
cblr-1695	720	55	a	a	DET
cblr-1695	720	56	“	"	PUNCT
cblr-1695	720	57	last	last	ADJ
cblr-1695	720	58	resort,”200	resort,”200	NOUN
cblr-1695	720	59	allowing	allow	VERB
cblr-1695	720	60	traditional	traditional	ADJ
cblr-1695	720	61	private	private	ADJ
cblr-1695	720	62	195	195	NUM
cblr-1695	720	63	see	see	VERB
cblr-1695	720	64	i	i	PROPN
cblr-1695	720	65	d.	d.	PROPN
cblr-1695	720	66	196	196	NUM
cblr-1695	720	67	stephen	stephen	PROPN
cblr-1695	720	68	foley	foley	PROPN
cblr-1695	720	69	,	,	PUNCT
cblr-1695	720	70	private	private	ADJ
cblr-1695	720	71	equity	equity	NOUN
cblr-1695	720	72	begins	begin	VERB
cblr-1695	720	73	to	to	PART
cblr-1695	720	74	entice	entice	VERB
cblr-1695	720	75	ordinary	ordinary	ADJ
cblr-1695	720	76	investors	investor	NOUN
cblr-1695	720	77	,	,	PUNCT
cblr-1695	720	78	fin	fin	NOUN
cblr-1695	720	79	.	.	PUNCT
cblr-1695	721	1	times	times	PROPN
cblr-1695	721	2	(	(	PUNCT
cblr-1695	721	3	may	may	PROPN
cblr-1695	721	4	26	26	NUM
cblr-1695	721	5	,	,	PUNCT
cblr-1695	721	6	2015	2015	NUM
cblr-1695	721	7	)	)	PUNCT
cblr-1695	721	8	,	,	PUNCT
cblr-1695	721	9	https://www.ft.com/content/e85240c4-b150-11e4831b-00144feab7de	https://www.ft.com/content/e85240c4-b150-11e4831b-00144feab7de	PROPN
cblr-1695	722	1	[	[	X
cblr-1695	722	2	https://perma.cc/gnj5-uh38	https://perma.cc/gnj5-uh38	X
cblr-1695	722	3	]	]	X
cblr-1695	722	4	.	.	PUNCT
cblr-1695	723	1	197	197	NUM
cblr-1695	723	2	see	see	VERB
cblr-1695	723	3	dave	dave	PROPN
cblr-1695	723	4	michaels	michaels	PROPN
cblr-1695	723	5	,	,	PUNCT
cblr-1695	723	6	sec	sec	PROPN
cblr-1695	723	7	chairman	chairman	NOUN
cblr-1695	723	8	wants	want	VERB
cblr-1695	723	9	to	to	PART
cblr-1695	723	10	let	let	VERB
cblr-1695	723	11	more	more	ADJ
cblr-1695	723	12	main	main	ADJ
cblr-1695	723	13	street	street	NOUN
cblr-1695	723	14	investors	investor	NOUN
cblr-1695	723	15	in	in	ADP
cblr-1695	723	16	on	on	ADP
cblr-1695	723	17	private	private	ADJ
cblr-1695	723	18	deals	deal	NOUN
cblr-1695	723	19	,	,	PUNCT
cblr-1695	724	1	wall	wall	PROPN
cblr-1695	724	2	st	st	PROPN
cblr-1695	724	3	.	.	PROPN
cblr-1695	724	4	j.	j.	PROPN
cblr-1695	724	5	(	(	PUNCT
cblr-1695	724	6	aug	aug	PROPN
cblr-1695	724	7	.	.	PROPN
cblr-1695	724	8	30	30	NUM
cblr-1695	724	9	,	,	PUNCT
cblr-1695	724	10	2018	2018	NUM
cblr-1695	724	11	)	)	PUNCT
cblr-1695	724	12	,	,	PUNCT
cblr-1695	724	13	https://www.wsj.com/articles/sec-chairman-wants-to-let-more-main-streetinvestors-in-on-private-deals-1535648208	https://www.wsj.com/articles/sec-chairman-wants-to-let-more-main-streetinvestors-in-on-private-deals-1535648208	NOUN
cblr-1695	724	14	(	(	PUNCT
cblr-1695	724	15	on	on	ADP
cblr-1695	724	16	file	file	NOUN
cblr-1695	724	17	with	with	ADP
cblr-1695	724	18	the	the	DET
cblr-1695	724	19	columbia	columbia	PROPN
cblr-1695	724	20	business	business	PROPN
cblr-1695	724	21	law	law	PROPN
cblr-1695	724	22	review	review	PROPN
cblr-1695	724	23	)	)	PUNCT
cblr-1695	724	24	.	.	PUNCT
cblr-1695	725	1	198	198	NUM
cblr-1695	725	2	see	see	VERB
cblr-1695	725	3	michael	michael	PROPN
cblr-1695	725	4	b.	b.	PROPN
cblr-1695	725	5	dorff	dorff	PROPN
cblr-1695	725	6	,	,	PUNCT
cblr-1695	725	7	the	the	DET
cblr-1695	725	8	siren	siren	ADJ
cblr-1695	725	9	call	call	NOUN
cblr-1695	725	10	of	of	ADP
cblr-1695	725	11	equity	equity	NOUN
cblr-1695	725	12	crowdfunding	crowdfunding	NOUN
cblr-1695	725	13	,	,	PUNCT
cblr-1695	725	14	39	39	NUM
cblr-1695	725	15	j.	j.	PROPN
cblr-1695	725	16	corp	corp	PROPN
cblr-1695	725	17	.	.	PROPN
cblr-1695	725	18	l.	l.	PROPN
cblr-1695	725	19	493	493	NUM
cblr-1695	725	20	,	,	PUNCT
cblr-1695	725	21	503	503	NUM
cblr-1695	725	22	(	(	PUNCT
cblr-1695	725	23	2014	2014	NUM
cblr-1695	725	24	)	)	PUNCT
cblr-1695	725	25	.	.	PUNCT
cblr-1695	726	1	prior	prior	ADV
cblr-1695	726	2	to	to	ADP
cblr-1695	726	3	the	the	DET
cblr-1695	726	4	jobs	job	NOUN
cblr-1695	726	5	act	act	PROPN
cblr-1695	726	6	,	,	PUNCT
cblr-1695	726	7	it	it	PRON
cblr-1695	726	8	was	be	AUX
cblr-1695	726	9	illegal	illegal	ADJ
cblr-1695	726	10	for	for	SCONJ
cblr-1695	726	11	a	a	DET
cblr-1695	726	12	new	new	ADJ
cblr-1695	726	13	business	business	NOUN
cblr-1695	726	14	to	to	PART
cblr-1695	726	15	sell	sell	VERB
cblr-1695	726	16	equity	equity	NOUN
cblr-1695	726	17	over	over	ADP
cblr-1695	726	18	the	the	DET
cblr-1695	726	19	internet	internet	NOUN
cblr-1695	726	20	without	without	ADP
cblr-1695	726	21	registering	register	VERB
cblr-1695	726	22	the	the	DET
cblr-1695	726	23	sale	sale	NOUN
cblr-1695	726	24	pursuant	pursuant	ADJ
cblr-1695	726	25	to	to	ADP
cblr-1695	726	26	the	the	DET
cblr-1695	726	27	1933	1933	NUM
cblr-1695	726	28	act	act	NOUN
cblr-1695	726	29	.	.	PUNCT
cblr-1695	727	1	see	see	VERB
cblr-1695	727	2	i	i	PRON
cblr-1695	727	3	d.	d.	PROPN
cblr-1695	727	4	at	at	ADP
cblr-1695	727	5	501	501	NUM
cblr-1695	727	6	.	.	PUNCT
cblr-1695	728	1	199	199	NUM
cblr-1695	728	2	howard	howard	PROPN
cblr-1695	728	3	marks	mark	NOUN
cblr-1695	728	4	,	,	PUNCT
cblr-1695	728	5	what	what	PRON
cblr-1695	728	6	is	be	AUX
cblr-1695	728	7	equity	equity	NOUN
cblr-1695	728	8	crowdfunding	crowdfunding	NOUN
cblr-1695	728	9	?	?	PUNCT
cblr-1695	728	10	,	,	PUNCT
cblr-1695	728	11	forbes	forbes	PROPN
cblr-1695	728	12	(	(	PUNCT
cblr-1695	728	13	dec	dec	PROPN
cblr-1695	728	14	.	.	PROPN
cblr-1695	728	15	19	19	NUM
cblr-1695	728	16	,	,	PUNCT
cblr-1695	728	17	2018	2018	NUM
cblr-1695	728	18	)	)	PUNCT
cblr-1695	728	19	,	,	PUNCT
cblr-1695	728	20	https://www.forbes.com/sites/howardmarks/2018/12/19/what-isequity-crowdfunding/#1e5809553b5d	https://www.forbes.com/sites/howardmarks/2018/12/19/what-isequity-crowdfunding/#1e5809553b5d	PROPN
cblr-1695	728	21	[	[	X
cblr-1695	728	22	https://perma.cc/r8h9-cz5d	https://perma.cc/r8h9-cz5d	X
cblr-1695	728	23	]	]	PUNCT
cblr-1695	728	24	.	.	PUNCT
cblr-1695	729	1	for	for	ADP
cblr-1695	729	2	details	detail	NOUN
cblr-1695	729	3	on	on	ADP
cblr-1695	729	4	the	the	DET
cblr-1695	729	5	crowdfunding	crowdfunding	NOUN
cblr-1695	729	6	provisions	provision	NOUN
cblr-1695	729	7	of	of	ADP
cblr-1695	729	8	the	the	DET
cblr-1695	729	9	jobs	job	NOUN
cblr-1695	729	10	act	act	PROPN
cblr-1695	729	11	,	,	PUNCT
cblr-1695	729	12	see	see	VERB
cblr-1695	729	13	erica	erica	PROPN
cblr-1695	729	14	wu	wu	PROPN
cblr-1695	729	15	,	,	PUNCT
cblr-1695	729	16	note	note	VERB
cblr-1695	729	17	,	,	PUNCT
cblr-1695	729	18	biotech	biotech	ADJ
cblr-1695	729	19	crowdfunding	crowdfunding	NOUN
cblr-1695	729	20	:	:	PUNCT
cblr-1695	729	21	how	how	SCONJ
cblr-1695	729	22	the	the	DET
cblr-1695	729	23	jobs	job	NOUN
cblr-1695	729	24	act	act	VERB
cblr-1695	729	25	alone	alone	ADV
cblr-1695	729	26	can	can	AUX
cblr-1695	729	27	not	not	PART
cblr-1695	729	28	save	save	VERB
cblr-1695	729	29	investors	investor	NOUN
cblr-1695	729	30	,	,	PUNCT
cblr-1695	729	31	2018	2018	NUM
cblr-1695	729	32	colum	colum	NOUN
cblr-1695	729	33	.	.	PUNCT
cblr-1695	730	1	bus	bus	NOUN
cblr-1695	730	2	.	.	PUNCT
cblr-1695	731	1	l.	l.	PROPN
cblr-1695	731	2	rev	rev	PROPN
cblr-1695	731	3	.	.	PROPN
cblr-1695	731	4	1060	1060	NUM
cblr-1695	731	5	,	,	PUNCT
cblr-1695	731	6	1071–73	1071–73	NUM
cblr-1695	731	7	(	(	PUNCT
cblr-1695	731	8	2018	2018	NUM
cblr-1695	731	9	)	)	PUNCT
cblr-1695	731	10	.	.	PUNCT
cblr-1695	732	1	200	200	NUM
cblr-1695	732	2	dinah	dinah	PROPN
cblr-1695	732	3	wisenberg	wisenberg	PROPN
cblr-1695	732	4	brin	brin	PROPN
cblr-1695	732	5	,	,	PUNCT
cblr-1695	732	6	equity	equity	NOUN
cblr-1695	732	7	crowdfunding	crowdfunding	NOUN
cblr-1695	732	8	may	may	AUX
cblr-1695	732	9	be	be	AUX
cblr-1695	732	10	a	a	DET
cblr-1695	732	11	last	last	ADJ
cblr-1695	732	12	resort	resort	NOUN
cblr-1695	732	13	for	for	ADP
cblr-1695	732	14	some	some	DET
cblr-1695	732	15	startups	startup	NOUN
cblr-1695	732	16	,	,	PUNCT
cblr-1695	732	17	study	study	NOUN
cblr-1695	732	18	suggests	suggest	VERB
cblr-1695	732	19	,	,	PUNCT
cblr-1695	732	20	forbes	forbes	PROPN
cblr-1695	732	21	(	(	PUNCT
cblr-1695	732	22	june	june	PROPN
cblr-1695	732	23	27	27	NUM
cblr-1695	732	24	,	,	PUNCT
cblr-1695	732	25	2018	2018	NUM
cblr-1695	732	26	)	)	PUNCT
cblr-1695	732	27	,	,	PUNCT
cblr-1695	732	28	354	354	NUM
cblr-1695	732	29	columbia	columbia	PROPN
cblr-1695	732	30	business	business	NOUN
cblr-1695	732	31	law	law	PROPN
cblr-1695	732	32	review	review	NOUN
cblr-1695	733	1	[	[	X
cblr-1695	733	2	vol	vol	NOUN
cblr-1695	733	3	.	.	NOUN
cblr-1695	733	4	2019	2019	NUM
cblr-1695	733	5	capital	capital	NOUN
cblr-1695	733	6	,	,	PUNCT
cblr-1695	733	7	such	such	ADJ
cblr-1695	733	8	as	as	ADP
cblr-1695	733	9	private	private	ADJ
cblr-1695	733	10	equity	equity	NOUN
cblr-1695	733	11	and	and	CCONJ
cblr-1695	733	12	venture	venture	NOUN
cblr-1695	733	13	capital	capital	NOUN
cblr-1695	733	14	—	—	PUNCT
cblr-1695	733	15	typically	typically	ADV
cblr-1695	733	16	available	available	ADJ
cblr-1695	733	17	only	only	ADV
cblr-1695	733	18	to	to	ADP
cblr-1695	733	19	the	the	DET
cblr-1695	733	20	wealthy	wealthy	ADJ
cblr-1695	733	21	—	—	PUNCT
cblr-1695	733	22	to	to	PART
cblr-1695	733	23	remain	remain	VERB
cblr-1695	733	24	supreme	supreme	ADJ
cblr-1695	733	25	.	.	PUNCT
cblr-1695	734	1	furthermore	furthermore	ADV
cblr-1695	734	2	,	,	PUNCT
cblr-1695	734	3	blackstone	blackstone	NOUN
cblr-1695	734	4	has	have	AUX
cblr-1695	734	5	begun	begin	VERB
cblr-1695	734	6	targeting	target	VERB
cblr-1695	734	7	investors	investor	NOUN
cblr-1695	734	8	with	with	ADP
cblr-1695	734	9	$	$	SYM
cblr-1695	734	10	1	1	NUM
cblr-1695	734	11	million	million	NUM
cblr-1695	734	12	to	to	PART
cblr-1695	734	13	$	$	SYM
cblr-1695	734	14	5	5	NUM
cblr-1695	734	15	million	million	NUM
cblr-1695	734	16	in	in	ADP
cblr-1695	734	17	assets	asset	NOUN
cblr-1695	734	18	,	,	PUNCT
cblr-1695	734	19	necessarily	necessarily	ADV
cblr-1695	734	20	allowing	allow	VERB
cblr-1695	734	21	investments	investment	NOUN
cblr-1695	734	22	of	of	ADP
cblr-1695	734	23	less	less	ADJ
cblr-1695	734	24	than	than	ADP
cblr-1695	734	25	$	$	SYM
cblr-1695	734	26	1	1	NUM
cblr-1695	734	27	million.201	million.201	NOUN
cblr-1695	734	28	of	of	ADP
cblr-1695	734	29	course	course	NOUN
cblr-1695	734	30	,	,	PUNCT
cblr-1695	734	31	such	such	ADJ
cblr-1695	734	32	investments	investment	NOUN
cblr-1695	734	33	are	be	AUX
cblr-1695	734	34	still	still	ADV
cblr-1695	734	35	out	out	ADP
cblr-1695	734	36	of	of	ADP
cblr-1695	734	37	reach	reach	NOUN
cblr-1695	734	38	for	for	ADP
cblr-1695	734	39	the	the	DET
cblr-1695	734	40	majority	majority	NOUN
cblr-1695	734	41	of	of	ADP
cblr-1695	734	42	americans	americans	PROPN
cblr-1695	734	43	.	.	PUNCT
cblr-1695	735	1	finally	finally	ADV
cblr-1695	735	2	,	,	PUNCT
cblr-1695	735	3	the	the	DET
cblr-1695	735	4	sec	sec	PROPN
cblr-1695	735	5	is	be	AUX
cblr-1695	735	6	considering	consider	VERB
cblr-1695	735	7	revising	revise	VERB
cblr-1695	735	8	rules	rule	NOUN
cblr-1695	735	9	that	that	PRON
cblr-1695	735	10	foreclose	foreclose	VERB
cblr-1695	735	11	many	many	ADJ
cblr-1695	735	12	individual	individual	ADJ
cblr-1695	735	13	investors	investor	NOUN
cblr-1695	735	14	that	that	PRON
cblr-1695	735	15	do	do	AUX
cblr-1695	735	16	not	not	PART
cblr-1695	735	17	meet	meet	VERB
cblr-1695	735	18	income	income	NOUN
cblr-1695	735	19	or	or	CCONJ
cblr-1695	735	20	wealth	wealth	NOUN
cblr-1695	735	21	requirements	requirement	NOUN
cblr-1695	735	22	from	from	ADP
cblr-1695	735	23	investing	invest	VERB
cblr-1695	735	24	in	in	ADP
cblr-1695	735	25	private	private	ADJ
cblr-1695	735	26	deals.202	deals.202	PROPN
cblr-1695	735	27	nonetheless	nonetheless	ADV
cblr-1695	735	28	,	,	PUNCT
cblr-1695	735	29	in	in	ADP
cblr-1695	735	30	general	general	ADJ
cblr-1695	735	31	,	,	PUNCT
cblr-1695	735	32	when	when	SCONJ
cblr-1695	735	33	the	the	DET
cblr-1695	735	34	highest	high	ADJ
cblr-1695	735	35	-	-	PUNCT
cblr-1695	735	36	growth	growth	NOUN
cblr-1695	735	37	companies	company	NOUN
cblr-1695	735	38	seek	seek	VERB
cblr-1695	735	39	private	private	ADJ
cblr-1695	735	40	capital	capital	NOUN
cblr-1695	735	41	as	as	ADP
cblr-1695	735	42	an	an	DET
cblr-1695	735	43	alternative	alternative	NOUN
cblr-1695	735	44	to	to	ADP
cblr-1695	735	45	the	the	DET
cblr-1695	735	46	public	public	ADJ
cblr-1695	735	47	markets	market	NOUN
cblr-1695	735	48	,	,	PUNCT
cblr-1695	735	49	it	it	PRON
cblr-1695	735	50	can	can	AUX
cblr-1695	735	51	result	result	VERB
cblr-1695	735	52	in	in	ADP
cblr-1695	735	53	“	"	PUNCT
cblr-1695	735	54	real	real	ADJ
cblr-1695	735	55	distributive	distributive	ADJ
cblr-1695	735	56	consequences	consequence	NOUN
cblr-1695	735	57	”	"	PUNCT
cblr-1695	735	58	between	between	ADP
cblr-1695	735	59	wealthy	wealthy	ADJ
cblr-1695	735	60	and	and	CCONJ
cblr-1695	735	61	average	average	ADJ
cblr-1695	735	62	investors.203	investors.203	NOUN
cblr-1695	735	63	primarily	primarily	ADV
cblr-1695	735	64	because	because	SCONJ
cblr-1695	735	65	,	,	PUNCT
cblr-1695	735	66	“	"	PUNCT
cblr-1695	735	67	[	[	X
cblr-1695	735	68	i]f	i]f	VERB
cblr-1695	735	69	many	many	ADJ
cblr-1695	735	70	of	of	ADP
cblr-1695	735	71	the	the	DET
cblr-1695	735	72	economy	economy	NOUN
cblr-1695	735	73	’s	’s	PART
cblr-1695	735	74	greatest	great	ADJ
cblr-1695	735	75	success	success	NOUN
cblr-1695	735	76	stories	story	NOUN
cblr-1695	735	77	are	be	AUX
cblr-1695	735	78	n’t	not	PART
cblr-1695	735	79	included	include	VERB
cblr-1695	735	80	in	in	ADP
cblr-1695	735	81	the	the	DET
cblr-1695	735	82	funds	fund	NOUN
cblr-1695	735	83	that	that	PRON
cblr-1695	735	84	ordinary	ordinary	ADJ
cblr-1695	735	85	americans	american	NOUN
cblr-1695	735	86	hold	hold	VERB
cblr-1695	735	87	,	,	PUNCT
cblr-1695	735	88	only	only	ADV
cblr-1695	735	89	the	the	DET
cblr-1695	735	90	wealthiest	wealthy	ADJ
cblr-1695	735	91	members	member	NOUN
cblr-1695	735	92	of	of	ADP
cblr-1695	735	93	society	society	NOUN
cblr-1695	735	94	will	will	AUX
cblr-1695	735	95	enjoy	enjoy	VERB
cblr-1695	735	96	the	the	DET
cblr-1695	735	97	gains	gain	NOUN
cblr-1695	735	98	,	,	PUNCT
cblr-1695	735	99	intensifying	intensify	VERB
cblr-1695	735	100	inequality	inequality	NOUN
cblr-1695	735	101	.	.	PUNCT
cblr-1695	735	102	”204	”204	PROPN
cblr-1695	735	103	in	in	ADP
cblr-1695	735	104	other	other	ADJ
cblr-1695	735	105	words	word	NOUN
cblr-1695	735	106	,	,	PUNCT
cblr-1695	735	107	when	when	SCONJ
cblr-1695	735	108	a	a	DET
cblr-1695	735	109	company	company	NOUN
cblr-1695	735	110	is	be	AUX
cblr-1695	735	111	funded	fund	VERB
cblr-1695	735	112	privately	privately	ADV
cblr-1695	735	113	,	,	PUNCT
cblr-1695	735	114	any	any	DET
cblr-1695	735	115	gains	gain	NOUN
cblr-1695	735	116	are	be	AUX
cblr-1695	735	117	received	receive	VERB
cblr-1695	735	118	by	by	ADP
cblr-1695	735	119	the	the	DET
cblr-1695	735	120	private	private	ADJ
cblr-1695	735	121	investors	investor	NOUN
cblr-1695	735	122	,	,	PUNCT
cblr-1695	735	123	who	who	PRON
cblr-1695	735	124	are	be	AUX
cblr-1695	735	125	typically	typically	ADV
cblr-1695	735	126	a	a	DET
cblr-1695	735	127	small	small	ADJ
cblr-1695	735	128	group	group	NOUN
cblr-1695	735	129	made	make	VERB
cblr-1695	735	130	up	up	ADP
cblr-1695	735	131	of	of	ADP
cblr-1695	735	132	the	the	DET
cblr-1695	735	133	wealthiest	wealthy	ADJ
cblr-1695	735	134	in	in	ADP
cblr-1695	735	135	society.205	society.205	NOUN
cblr-1695	735	136	on	on	ADP
cblr-1695	735	137	the	the	DET
cblr-1695	735	138	other	other	ADJ
cblr-1695	735	139	hand	hand	NOUN
cblr-1695	735	140	,	,	PUNCT
cblr-1695	735	141	the	the	DET
cblr-1695	735	142	public	public	ADJ
cblr-1695	735	143	markets	market	NOUN
cblr-1695	735	144	offer	offer	VERB
cblr-1695	735	145	an	an	DET
cblr-1695	735	146	opportunity	opportunity	NOUN
cblr-1695	735	147	for	for	SCONJ
cblr-1695	735	148	anyone	anyone	PRON
cblr-1695	735	149	to	to	PART
cblr-1695	735	150	invest	invest	VERB
cblr-1695	735	151	.	.	PUNCT
cblr-1695	736	1	today	today	NOUN
cblr-1695	736	2	,	,	PUNCT
cblr-1695	736	3	roughly	roughly	ADV
cblr-1695	736	4	half	half	NOUN
cblr-1695	736	5	of	of	ADP
cblr-1695	736	6	all	all	DET
cblr-1695	736	7	u.s	u.s	PROPN
cblr-1695	736	8	.	.	PROPN
cblr-1695	736	9	households	household	NOUN
cblr-1695	736	10	own	own	VERB
cblr-1695	736	11	publicly	publicly	ADV
cblr-1695	736	12	-	-	PUNCT
cblr-1695	736	13	traded	trade	VERB
cblr-1695	736	14	stock	stock	NOUN
cblr-1695	736	15	https://www.forbes.com/sites/dinahwisenberg/2018/06/27/equitycrowdfunding-may-be-a-last-resort-for-some-startups-studysuggests/#702c63db73c1	https://www.forbes.com/sites/dinahwisenberg/2018/06/27/equitycrowdfunding-may-be-a-last-resort-for-some-startups-studysuggests/#702c63db73c1	NOUN
cblr-1695	736	16	[	[	X
cblr-1695	736	17	https://perma.cc/a8pl-nand	https://perma.cc/a8pl-nand	NOUN
cblr-1695	736	18	]	]	PUNCT
cblr-1695	736	19	.	.	PUNCT
cblr-1695	737	1	201	201	NUM
cblr-1695	737	2	see	see	VERB
cblr-1695	737	3	miriam	miriam	PROPN
cblr-1695	737	4	gottfried	gottfried	PROPN
cblr-1695	737	5	,	,	PUNCT
cblr-1695	737	6	blackstone	blackstone	NOUN
cblr-1695	737	7	targets	target	NOUN
cblr-1695	737	8	millionaire	millionaire	VERB
cblr-1695	737	9	next	next	ADJ
cblr-1695	737	10	door	door	NOUN
cblr-1695	737	11	,	,	PUNCT
cblr-1695	737	12	wall	wall	PROPN
cblr-1695	737	13	st	st	PROPN
cblr-1695	737	14	.	.	PROPN
cblr-1695	737	15	j.	j.	PROPN
cblr-1695	737	16	(	(	PUNCT
cblr-1695	737	17	oct	oct	PROPN
cblr-1695	737	18	.	.	PROPN
cblr-1695	737	19	15	15	NUM
cblr-1695	737	20	,	,	PUNCT
cblr-1695	737	21	2017	2017	NUM
cblr-1695	737	22	)	)	PUNCT
cblr-1695	737	23	,	,	PUNCT
cblr-1695	737	24	https://www.wsj.com/articles/barbarians-opentheir-gates-as-blackstone-others-seek-retail-cash-1508068802	https://www.wsj.com/articles/barbarians-opentheir-gates-as-blackstone-others-seek-retail-cash-1508068802	PRON
cblr-1695	737	25	(	(	PUNCT
cblr-1695	737	26	on	on	ADP
cblr-1695	737	27	file	file	NOUN
cblr-1695	737	28	with	with	ADP
cblr-1695	737	29	the	the	DET
cblr-1695	737	30	columbia	columbia	PROPN
cblr-1695	737	31	business	business	PROPN
cblr-1695	737	32	law	law	PROPN
cblr-1695	737	33	review	review	PROPN
cblr-1695	737	34	)	)	PUNCT
cblr-1695	737	35	.	.	PUNCT
cblr-1695	738	1	202	202	NUM
cblr-1695	738	2	see	see	VERB
cblr-1695	738	3	michaels	michael	NOUN
cblr-1695	738	4	,	,	PUNCT
cblr-1695	738	5	supra	supra	PROPN
cblr-1695	738	6	note	note	NOUN
cblr-1695	738	7	197	197	NUM
cblr-1695	738	8	.	.	NOUN
cblr-1695	738	9	203	203	NUM
cblr-1695	738	10	partnoy	partnoy	ADJ
cblr-1695	738	11	,	,	PUNCT
cblr-1695	738	12	supra	supra	ADJ
cblr-1695	738	13	note	note	NOUN
cblr-1695	738	14	193	193	NUM
cblr-1695	738	15	.	.	PUNCT
cblr-1695	739	1	204	204	NUM
cblr-1695	740	1	i	i	PRON
cblr-1695	740	2	d.	d.	NOUN
cblr-1695	740	3	205	205	NUM
cblr-1695	740	4	one	one	NUM
cblr-1695	740	5	caveat	caveat	NOUN
cblr-1695	740	6	is	be	AUX
cblr-1695	740	7	that	that	SCONJ
cblr-1695	740	8	average	average	ADJ
cblr-1695	740	9	investors	investor	NOUN
cblr-1695	740	10	may	may	AUX
cblr-1695	740	11	be	be	AUX
cblr-1695	740	12	invested	invest	VERB
cblr-1695	740	13	indirectly	indirectly	ADV
cblr-1695	740	14	in	in	ADP
cblr-1695	740	15	private	private	ADJ
cblr-1695	740	16	equity	equity	NOUN
cblr-1695	740	17	funds	fund	NOUN
cblr-1695	740	18	through	through	ADP
cblr-1695	740	19	holdings	holding	NOUN
cblr-1695	740	20	in	in	ADP
cblr-1695	740	21	pension	pension	NOUN
cblr-1695	740	22	funds	fund	NOUN
cblr-1695	740	23	or	or	CCONJ
cblr-1695	740	24	mutual	mutual	ADJ
cblr-1695	740	25	funds	fund	NOUN
cblr-1695	740	26	.	.	PUNCT
cblr-1695	741	1	see	see	VERB
cblr-1695	741	2	mary	mary	PROPN
cblr-1695	741	3	hall	hall	PROPN
cblr-1695	741	4	,	,	PUNCT
cblr-1695	741	5	how	how	SCONJ
cblr-1695	741	6	to	to	PART
cblr-1695	741	7	invest	invest	VERB
cblr-1695	741	8	in	in	ADP
cblr-1695	741	9	private	private	ADJ
cblr-1695	741	10	equity	equity	NOUN
cblr-1695	741	11	,	,	PUNCT
cblr-1695	741	12	investopedia	investopedia	PROPN
cblr-1695	741	13	(	(	PUNCT
cblr-1695	741	14	mar	mar	PROPN
cblr-1695	741	15	.	.	PROPN
cblr-1695	741	16	22	22	NUM
cblr-1695	741	17	,	,	PUNCT
cblr-1695	741	18	2018	2018	NUM
cblr-1695	741	19	)	)	PUNCT
cblr-1695	741	20	,	,	PUNCT
cblr-1695	741	21	https://www.investopedia.com/articles/mutualfund/07/private_equ	https://www.investopedia.com/articles/mutualfund/07/private_equ	X
cblr-1695	741	22	ity.asp	ity.asp	PROPN
cblr-1695	741	23	[	[	X
cblr-1695	741	24	https://perma.cc/c6mj-v6cw	https://perma.cc/c6mj-v6cw	X
cblr-1695	741	25	]	]	X
cblr-1695	741	26	.	.	PUNCT
cblr-1695	742	1	nonetheless	nonetheless	ADV
cblr-1695	742	2	,	,	PUNCT
cblr-1695	742	3	regulations	regulation	NOUN
cblr-1695	742	4	typically	typically	ADV
cblr-1695	742	5	limit	limit	VERB
cblr-1695	742	6	the	the	DET
cblr-1695	742	7	amount	amount	NOUN
cblr-1695	742	8	of	of	ADP
cblr-1695	742	9	such	such	ADJ
cblr-1695	742	10	funds	fund	NOUN
cblr-1695	742	11	that	that	PRON
cblr-1695	742	12	can	can	AUX
cblr-1695	742	13	be	be	AUX
cblr-1695	742	14	invested	invest	VERB
cblr-1695	742	15	in	in	ADP
cblr-1695	742	16	private	private	ADJ
cblr-1695	742	17	equity	equity	NOUN
cblr-1695	742	18	and	and	CCONJ
cblr-1695	742	19	many	many	ADJ
cblr-1695	742	20	may	may	AUX
cblr-1695	742	21	not	not	PART
cblr-1695	742	22	be	be	AUX
cblr-1695	742	23	invested	invest	VERB
cblr-1695	742	24	in	in	ADP
cblr-1695	742	25	private	private	ADJ
cblr-1695	742	26	companies	company	NOUN
cblr-1695	742	27	at	at	ADV
cblr-1695	742	28	all	all	ADV
cblr-1695	742	29	.	.	PUNCT
cblr-1695	743	1	see	see	VERB
cblr-1695	743	2	i	i	PRON
cblr-1695	743	3	d.	d.	PROPN
cblr-1695	743	4	no	no	INTJ
cblr-1695	743	5	.	.	PUNCT
cblr-1695	744	1	1:305	1:305	X
cblr-1695	744	2	]	]	X
cblr-1695	744	3	going	go	VERB
cblr-1695	744	4	public	public	ADJ
cblr-1695	744	5	secretly	secretly	ADV
cblr-1695	744	6	355	355	NUM
cblr-1695	744	7	directly	directly	ADV
cblr-1695	744	8	or	or	CCONJ
cblr-1695	744	9	indirectly	indirectly	ADV
cblr-1695	744	10	via	via	ADP
cblr-1695	744	11	mutual	mutual	ADJ
cblr-1695	744	12	funds.206	funds.206	NOUN
cblr-1695	744	13	indeed	indeed	ADV
cblr-1695	744	14	,	,	PUNCT
cblr-1695	744	15	“	"	PUNCT
cblr-1695	744	16	the	the	DET
cblr-1695	744	17	majority	majority	NOUN
cblr-1695	744	18	of	of	ADP
cblr-1695	744	19	the	the	DET
cblr-1695	744	20	american	american	PROPN
cblr-1695	744	21	middle	middle	PROPN
cblr-1695	744	22	class	class	NOUN
cblr-1695	744	23	has	have	AUX
cblr-1695	744	24	invested	invest	VERB
cblr-1695	744	25	its	its	PRON
cblr-1695	744	26	retirement	retirement	NOUN
cblr-1695	744	27	savings	saving	NOUN
cblr-1695	744	28	,	,	PUNCT
cblr-1695	744	29	directly	directly	ADV
cblr-1695	744	30	or	or	CCONJ
cblr-1695	744	31	indirectly	indirectly	ADV
cblr-1695	744	32	,	,	PUNCT
cblr-1695	744	33	in	in	ADP
cblr-1695	744	34	the	the	DET
cblr-1695	744	35	stock	stock	NOUN
cblr-1695	744	36	market	market	NOUN
cblr-1695	744	37	.	.	PUNCT
cblr-1695	745	1	”207	”207	VERB
cblr-1695	745	2	this	this	PRON
cblr-1695	745	3	is	be	AUX
cblr-1695	745	4	why	why	SCONJ
cblr-1695	745	5	encouraging	encourage	VERB
cblr-1695	745	6	companies	company	NOUN
cblr-1695	745	7	to	to	PART
cblr-1695	745	8	go	go	VERB
cblr-1695	745	9	public	public	ADJ
cblr-1695	745	10	is	be	AUX
cblr-1695	745	11	vital	vital	ADJ
cblr-1695	745	12	to	to	ADP
cblr-1695	745	13	the	the	DET
cblr-1695	745	14	health	health	NOUN
cblr-1695	745	15	of	of	ADP
cblr-1695	745	16	the	the	DET
cblr-1695	745	17	american	american	ADJ
cblr-1695	745	18	economy	economy	NOUN
cblr-1695	745	19	.	.	PUNCT
cblr-1695	746	1	when	when	SCONJ
cblr-1695	746	2	companies	company	NOUN
cblr-1695	746	3	list	list	VERB
cblr-1695	746	4	on	on	ADP
cblr-1695	746	5	a	a	DET
cblr-1695	746	6	public	public	ADJ
cblr-1695	746	7	stock	stock	NOUN
cblr-1695	746	8	exchange	exchange	NOUN
cblr-1695	746	9	,	,	PUNCT
cblr-1695	746	10	rather	rather	ADV
cblr-1695	746	11	than	than	ADP
cblr-1695	746	12	finance	finance	VERB
cblr-1695	746	13	through	through	ADP
cblr-1695	746	14	private	private	ADJ
cblr-1695	746	15	capital	capital	NOUN
cblr-1695	746	16	,	,	PUNCT
cblr-1695	746	17	society	society	NOUN
cblr-1695	746	18	as	as	ADP
cblr-1695	746	19	a	a	DET
cblr-1695	746	20	whole	whole	ADJ
cblr-1695	746	21	benefits	benefit	NOUN
cblr-1695	746	22	more	more	ADJ
cblr-1695	746	23	.	.	PUNCT
cblr-1695	747	1	gains	gain	NOUN
cblr-1695	747	2	are	be	AUX
cblr-1695	747	3	spread	spread	VERB
cblr-1695	747	4	among	among	ADP
cblr-1695	747	5	investors	investor	NOUN
cblr-1695	747	6	across	across	ADP
cblr-1695	747	7	the	the	DET
cblr-1695	747	8	socioeconomic	socioeconomic	ADJ
cblr-1695	747	9	class	class	NOUN
cblr-1695	747	10	spectrum	spectrum	NOUN
cblr-1695	747	11	,	,	PUNCT
cblr-1695	747	12	rather	rather	ADV
cblr-1695	747	13	than	than	ADP
cblr-1695	747	14	enjoyed	enjoy	VERB
cblr-1695	747	15	just	just	ADV
cblr-1695	747	16	by	by	ADP
cblr-1695	747	17	the	the	DET
cblr-1695	747	18	wealthy	wealthy	ADJ
cblr-1695	747	19	.	.	PUNCT
cblr-1695	748	1	and	and	CCONJ
cblr-1695	748	2	because	because	SCONJ
cblr-1695	748	3	public	public	ADJ
cblr-1695	748	4	companies	company	NOUN
cblr-1695	748	5	must	must	AUX
cblr-1695	748	6	comply	comply	VERB
cblr-1695	748	7	with	with	ADP
cblr-1695	748	8	disclosure	disclosure	NOUN
cblr-1695	748	9	requirements	requirement	NOUN
cblr-1695	748	10	,	,	PUNCT
cblr-1695	748	11	public	public	ADJ
cblr-1695	748	12	stock	stock	NOUN
cblr-1695	748	13	is	be	AUX
cblr-1695	748	14	more	more	ADV
cblr-1695	748	15	accurately	accurately	ADV
cblr-1695	748	16	valued	value	VERB
cblr-1695	748	17	than	than	ADP
cblr-1695	748	18	private	private	ADJ
cblr-1695	748	19	stock	stock	NOUN
cblr-1695	748	20	in	in	ADP
cblr-1695	748	21	which	which	PRON
cblr-1695	748	22	company	company	NOUN
cblr-1695	748	23	information	information	NOUN
cblr-1695	748	24	can	can	AUX
cblr-1695	748	25	more	more	ADV
cblr-1695	748	26	easily	easily	ADV
cblr-1695	748	27	be	be	AUX
cblr-1695	748	28	kept	keep	VERB
cblr-1695	748	29	behind	behind	ADP
cblr-1695	748	30	a	a	DET
cblr-1695	748	31	veil	veil	NOUN
cblr-1695	748	32	,	,	PUNCT
cblr-1695	748	33	despite	despite	SCONJ
cblr-1695	748	34	investor	investor	NOUN
cblr-1695	748	35	demands.208	demands.208	NOUN
cblr-1695	748	36	if	if	SCONJ
cblr-1695	748	37	more	more	ADJ
cblr-1695	748	38	companies	company	NOUN
cblr-1695	748	39	remain	remain	VERB
cblr-1695	748	40	private	private	ADJ
cblr-1695	748	41	and	and	CCONJ
cblr-1695	748	42	therefore	therefore	ADV
cblr-1695	748	43	are	be	AUX
cblr-1695	748	44	not	not	PART
cblr-1695	748	45	subject	subject	ADJ
cblr-1695	748	46	to	to	ADP
cblr-1695	748	47	public	public	ADJ
cblr-1695	748	48	transparency	transparency	NOUN
cblr-1695	748	49	rules	rule	NOUN
cblr-1695	748	50	,	,	PUNCT
cblr-1695	748	51	“	"	PUNCT
cblr-1695	748	52	a	a	DET
cblr-1695	748	53	rising	rise	VERB
cblr-1695	748	54	share	share	NOUN
cblr-1695	748	55	of	of	ADP
cblr-1695	748	56	important	important	ADJ
cblr-1695	748	57	american	american	ADJ
cblr-1695	748	58	companies	company	NOUN
cblr-1695	748	59	will	will	AUX
cblr-1695	748	60	operate	operate	VERB
cblr-1695	748	61	in	in	ADP
cblr-1695	748	62	the	the	DET
cblr-1695	748	63	relative	relative	ADJ
cblr-1695	748	64	comforts	comfort	NOUN
cblr-1695	748	65	of	of	ADP
cblr-1695	748	66	opacity	opacity	NOUN
cblr-1695	748	67	.	.	PUNCT
cblr-1695	749	1	”209	”209	PUNCT
cblr-1695	749	2	the	the	DET
cblr-1695	749	3	sec	sec	PROPN
cblr-1695	749	4	must	must	AUX
cblr-1695	749	5	address	address	VERB
cblr-1695	749	6	this	this	DET
cblr-1695	749	7	shift	shift	NOUN
cblr-1695	749	8	to	to	ADP
cblr-1695	749	9	private	private	ADJ
cblr-1695	749	10	capital	capital	NOUN
cblr-1695	749	11	head	head	NOUN
cblr-1695	749	12	on	on	ADP
cblr-1695	749	13	if	if	SCONJ
cblr-1695	749	14	its	its	PRON
cblr-1695	749	15	goal	goal	NOUN
cblr-1695	749	16	of	of	ADP
cblr-1695	749	17	revitalizing	revitalize	VERB
cblr-1695	749	18	the	the	DET
cblr-1695	749	19	ipo	ipo	NOUN
cblr-1695	749	20	market	market	NOUN
cblr-1695	749	21	is	be	AUX
cblr-1695	749	22	to	to	PART
cblr-1695	749	23	be	be	AUX
cblr-1695	749	24	achieved	achieve	VERB
cblr-1695	749	25	.	.	PUNCT
cblr-1695	750	1	not	not	PART
cblr-1695	750	2	only	only	ADV
cblr-1695	750	3	must	must	AUX
cblr-1695	750	4	the	the	DET
cblr-1695	750	5	status	status	NOUN
cblr-1695	750	6	of	of	ADP
cblr-1695	750	7	being	be	AUX
cblr-1695	750	8	a	a	DET
cblr-1695	750	9	public	public	ADJ
cblr-1695	750	10	company	company	NOUN
cblr-1695	750	11	seem	seem	VERB
cblr-1695	750	12	attractive	attractive	ADJ
cblr-1695	750	13	,	,	PUNCT
cblr-1695	750	14	it	it	PRON
cblr-1695	750	15	also	also	ADV
cblr-1695	750	16	must	must	AUX
cblr-1695	750	17	be	be	AUX
cblr-1695	750	18	more	more	ADV
cblr-1695	750	19	attractive	attractive	ADJ
cblr-1695	750	20	than	than	ADP
cblr-1695	750	21	remaining	remain	VERB
cblr-1695	750	22	private	private	ADJ
cblr-1695	750	23	and	and	CCONJ
cblr-1695	750	24	obtaining	obtain	VERB
cblr-1695	750	25	capital	capital	NOUN
cblr-1695	750	26	through	through	ADP
cblr-1695	750	27	private	private	ADJ
cblr-1695	750	28	funding	funding	NOUN
cblr-1695	750	29	.	.	PUNCT
cblr-1695	751	1	v.	v.	ADP
cblr-1695	751	2	proposals	proposal	NOUN
cblr-1695	751	3	for	for	ADP
cblr-1695	751	4	increasing	increase	VERB
cblr-1695	751	5	ipo	ipo	NOUN
cblr-1695	751	6	activity	activity	NOUN
cblr-1695	751	7	as	as	SCONJ
cblr-1695	751	8	discussed	discuss	VERB
cblr-1695	751	9	in	in	ADP
cblr-1695	751	10	parts	part	NOUN
cblr-1695	751	11	iii	iii	PROPN
cblr-1695	751	12	and	and	CCONJ
cblr-1695	751	13	iv	iv	NUM
cblr-1695	751	14	,	,	PUNCT
cblr-1695	751	15	the	the	DET
cblr-1695	751	16	july	july	PROPN
cblr-1695	751	17	2017	2017	NUM
cblr-1695	751	18	change	change	NOUN
cblr-1695	751	19	has	have	AUX
cblr-1695	751	20	failed	fail	VERB
cblr-1695	751	21	—	—	PUNCT
cblr-1695	751	22	and	and	CCONJ
cblr-1695	751	23	will	will	AUX
cblr-1695	751	24	likely	likely	ADV
cblr-1695	751	25	continue	continue	VERB
cblr-1695	751	26	to	to	PART
cblr-1695	751	27	fail	fail	VERB
cblr-1695	751	28	—	—	PUNCT
cblr-1695	751	29	to	to	PART
cblr-1695	751	30	generate	generate	VERB
cblr-1695	751	31	an	an	DET
cblr-1695	751	32	increase	increase	NOUN
cblr-1695	751	33	in	in	ADP
cblr-1695	751	34	the	the	DET
cblr-1695	751	35	number	number	NOUN
cblr-1695	751	36	of	of	ADP
cblr-1695	751	37	ipos	ipos	PROPN
cblr-1695	751	38	.	.	PUNCT
cblr-1695	752	1	however	however	ADV
cblr-1695	752	2	,	,	PUNCT
cblr-1695	752	3	better	well	ADJ
cblr-1695	752	4	solutions	solution	NOUN
cblr-1695	752	5	exist	exist	VERB
cblr-1695	752	6	and	and	CCONJ
cblr-1695	752	7	should	should	AUX
cblr-1695	752	8	be	be	AUX
cblr-1695	752	9	implemented	implement	VERB
cblr-1695	752	10	in	in	ADP
cblr-1695	752	11	order	order	NOUN
cblr-1695	752	12	to	to	PART
cblr-1695	752	13	achieve	achieve	VERB
cblr-1695	752	14	this	this	DET
cblr-1695	752	15	goal	goal	NOUN
cblr-1695	752	16	.	.	PUNCT
cblr-1695	753	1	in	in	ADP
cblr-1695	753	2	order	order	NOUN
cblr-1695	753	3	to	to	PART
cblr-1695	753	4	effectively	effectively	ADV
cblr-1695	753	5	reverse	reverse	VERB
cblr-1695	753	6	the	the	DET
cblr-1695	753	7	decline	decline	NOUN
cblr-1695	753	8	in	in	ADP
cblr-1695	753	9	ipos	ipos	NOUN
cblr-1695	753	10	,	,	PUNCT
cblr-1695	753	11	the	the	DET
cblr-1695	753	12	sec	sec	PROPN
cblr-1695	753	13	206	206	NUM
cblr-1695	753	14	see	see	VERB
cblr-1695	753	15	coffee	coffee	NOUN
cblr-1695	753	16	et	et	PROPN
cblr-1695	753	17	al	al	PROPN
cblr-1695	753	18	.	.	PROPN
cblr-1695	753	19	,	,	PUNCT
cblr-1695	753	20	supra	supra	PROPN
cblr-1695	753	21	note	note	NOUN
cblr-1695	753	22	75	75	NUM
cblr-1695	753	23	,	,	PUNCT
cblr-1695	753	24	at	at	ADP
cblr-1695	753	25	5	5	NUM
cblr-1695	753	26	.	.	NOUN
cblr-1695	753	27	207	207	NUM
cblr-1695	754	1	i	i	PRON
cblr-1695	754	2	d.	d.	PROPN
cblr-1695	754	3	208	208	NUM
cblr-1695	754	4	see	see	VERB
cblr-1695	754	5	james	james	PROPN
cblr-1695	754	6	j.	j.	PROPN
cblr-1695	754	7	park	park	PROPN
cblr-1695	754	8	,	,	PUNCT
cblr-1695	754	9	reassessing	reassess	VERB
cblr-1695	754	10	the	the	DET
cblr-1695	754	11	distinction	distinction	NOUN
cblr-1695	754	12	between	between	ADP
cblr-1695	754	13	corporate	corporate	ADJ
cblr-1695	754	14	and	and	CCONJ
cblr-1695	754	15	securities	security	NOUN
cblr-1695	754	16	law	law	NOUN
cblr-1695	754	17	,	,	PUNCT
cblr-1695	754	18	64	64	NUM
cblr-1695	754	19	ucla	ucla	PROPN
cblr-1695	754	20	l.	l.	PROPN
cblr-1695	754	21	rev	rev	PROPN
cblr-1695	754	22	.	.	PROPN
cblr-1695	754	23	116	116	NUM
cblr-1695	754	24	,	,	PUNCT
cblr-1695	754	25	120	120	NUM
cblr-1695	754	26	(	(	PUNCT
cblr-1695	754	27	2017	2017	NUM
cblr-1695	754	28	)	)	PUNCT
cblr-1695	754	29	(	(	PUNCT
cblr-1695	754	30	“	"	PUNCT
cblr-1695	754	31	with	with	ADP
cblr-1695	754	32	truthful	truthful	ADJ
cblr-1695	754	33	disclosure	disclosure	NOUN
cblr-1695	754	34	,	,	PUNCT
cblr-1695	754	35	investors	investor	NOUN
cblr-1695	754	36	will	will	AUX
cblr-1695	754	37	buy	buy	VERB
cblr-1695	754	38	the	the	DET
cblr-1695	754	39	stock	stock	NOUN
cblr-1695	754	40	at	at	ADP
cblr-1695	754	41	a	a	DET
cblr-1695	754	42	valuation	valuation	NOUN
cblr-1695	754	43	that	that	PRON
cblr-1695	754	44	reflects	reflect	VERB
cblr-1695	754	45	the	the	DET
cblr-1695	754	46	risks	risk	NOUN
cblr-1695	754	47	associated	associate	VERB
cblr-1695	754	48	with	with	ADP
cblr-1695	754	49	the	the	DET
cblr-1695	754	50	investment	investment	NOUN
cblr-1695	754	51	[	[	X
cblr-1695	754	52	.	.	X
cblr-1695	754	53	]	]	X
cblr-1695	754	54	”	"	PUNCT
cblr-1695	754	55	)	)	PUNCT
cblr-1695	754	56	.	.	PUNCT
cblr-1695	755	1	209	209	NUM
cblr-1695	755	2	gwynn	gwynn	PROPN
cblr-1695	755	3	guilford	guilford	PROPN
cblr-1695	755	4	,	,	PUNCT
cblr-1695	755	5	us	us	PROPN
cblr-1695	755	6	startups	startup	NOUN
cblr-1695	755	7	do	do	AUX
cblr-1695	755	8	n’t	not	PART
cblr-1695	755	9	want	want	VERB
cblr-1695	755	10	to	to	PART
cblr-1695	755	11	go	go	VERB
cblr-1695	755	12	public	public	ADJ
cblr-1695	755	13	anymore	anymore	ADV
cblr-1695	755	14	.	.	PUNCT
cblr-1695	756	1	that	that	PRON
cblr-1695	756	2	’s	’	VERB
cblr-1695	756	3	bad	bad	ADJ
cblr-1695	756	4	news	news	NOUN
cblr-1695	756	5	for	for	ADP
cblr-1695	756	6	americans	americans	PROPN
cblr-1695	756	7	,	,	PUNCT
cblr-1695	756	8	quartz	quartz	NOUN
cblr-1695	756	9	(	(	PUNCT
cblr-1695	756	10	feb	feb	PROPN
cblr-1695	756	11	.	.	PROPN
cblr-1695	756	12	1	1	NUM
cblr-1695	756	13	,	,	PUNCT
cblr-1695	756	14	2018	2018	NUM
cblr-1695	756	15	)	)	PUNCT
cblr-1695	756	16	,	,	PUNCT
cblr-1695	756	17	https://qz.com/1192972/us-startups-are-shunning-ipos-thats-bad-news-foramericans/	https://qz.com/1192972/us-startups-are-shunning-ipos-thats-bad-news-foramericans/	VERB
cblr-1695	756	18	[	[	X
cblr-1695	756	19	https://perma.cc/ha3a-p8wt	https://perma.cc/ha3a-p8wt	NOUN
cblr-1695	756	20	]	]	X
cblr-1695	756	21	.	.	PUNCT
cblr-1695	757	1	356	356	NUM
cblr-1695	757	2	columbia	columbia	PROPN
cblr-1695	757	3	business	business	NOUN
cblr-1695	757	4	law	law	PROPN
cblr-1695	757	5	review	review	NOUN
cblr-1695	758	1	[	[	X
cblr-1695	758	2	vol	vol	NOUN
cblr-1695	758	3	.	.	PUNCT
cblr-1695	758	4	2019	2019	NUM
cblr-1695	758	5	must	must	AUX
cblr-1695	758	6	effectuate	effectuate	VERB
cblr-1695	758	7	changes	change	NOUN
cblr-1695	758	8	that	that	PRON
cblr-1695	758	9	accomplish	accomplish	VERB
cblr-1695	758	10	two	two	NUM
cblr-1695	758	11	interconnected	interconnected	ADJ
cblr-1695	758	12	goals	goal	NOUN
cblr-1695	758	13	:	:	PUNCT
cblr-1695	758	14	1	1	X
cblr-1695	758	15	)	)	PUNCT
cblr-1695	758	16	make	make	VERB
cblr-1695	758	17	private	private	ADJ
cblr-1695	758	18	markets	market	NOUN
cblr-1695	758	19	less	less	ADV
cblr-1695	758	20	viable	viable	ADJ
cblr-1695	758	21	for	for	ADP
cblr-1695	758	22	companies	company	NOUN
cblr-1695	758	23	seeking	seek	VERB
cblr-1695	758	24	capital	capital	NOUN
cblr-1695	758	25	;	;	PUNCT
cblr-1695	758	26	and	and	CCONJ
cblr-1695	758	27	2	2	X
cblr-1695	758	28	)	)	PUNCT
cblr-1695	758	29	make	make	VERB
cblr-1695	758	30	the	the	DET
cblr-1695	758	31	public	public	ADJ
cblr-1695	758	32	markets	market	NOUN
cblr-1695	758	33	—	—	PUNCT
cblr-1695	758	34	and	and	CCONJ
cblr-1695	758	35	being	be	AUX
cblr-1695	758	36	a	a	DET
cblr-1695	758	37	public	public	ADJ
cblr-1695	758	38	company	company	NOUN
cblr-1695	758	39	—	—	PUNCT
cblr-1695	758	40	the	the	DET
cblr-1695	758	41	most	most	ADV
cblr-1695	758	42	attractive	attractive	ADJ
cblr-1695	758	43	option	option	NOUN
cblr-1695	758	44	.	.	PUNCT
cblr-1695	759	1	this	this	DET
cblr-1695	759	2	part	part	NOUN
cblr-1695	759	3	outlines	outline	VERB
cblr-1695	759	4	three	three	NUM
cblr-1695	759	5	new	new	ADJ
cblr-1695	759	6	proposals	proposal	NOUN
cblr-1695	759	7	for	for	ADP
cblr-1695	759	8	increasing	increase	VERB
cblr-1695	759	9	ipo	ipo	NOUN
cblr-1695	759	10	activity	activity	NOUN
cblr-1695	759	11	.	.	PUNCT
cblr-1695	760	1	it	it	PRON
cblr-1695	760	2	then	then	ADV
cblr-1695	760	3	calls	call	VERB
cblr-1695	760	4	for	for	ADP
cblr-1695	760	5	the	the	DET
cblr-1695	760	6	abolition	abolition	NOUN
cblr-1695	760	7	of	of	ADP
cblr-1695	760	8	the	the	DET
cblr-1695	760	9	confidential	confidential	ADJ
cblr-1695	760	10	drs	drs	ADJ
cblr-1695	760	11	process	process	NOUN
cblr-1695	760	12	for	for	ADP
cblr-1695	760	13	both	both	CCONJ
cblr-1695	760	14	egcs	egcs	ADJ
cblr-1695	760	15	and	and	CCONJ
cblr-1695	760	16	non	non	ADJ
cblr-1695	760	17	-	-	ADJ
cblr-1695	760	18	egcs	egcs	ADJ
cblr-1695	760	19	and	and	CCONJ
cblr-1695	760	20	a	a	DET
cblr-1695	760	21	return	return	NOUN
cblr-1695	760	22	to	to	ADP
cblr-1695	760	23	the	the	DET
cblr-1695	760	24	principle	principle	NOUN
cblr-1695	760	25	of	of	ADP
cblr-1695	760	26	disclosure	disclosure	NOUN
cblr-1695	760	27	that	that	PRON
cblr-1695	760	28	historically	historically	ADV
cblr-1695	760	29	has	have	AUX
cblr-1695	760	30	served	serve	VERB
cblr-1695	760	31	as	as	ADP
cblr-1695	760	32	the	the	DET
cblr-1695	760	33	foundation	foundation	NOUN
cblr-1695	760	34	of	of	ADP
cblr-1695	760	35	the	the	DET
cblr-1695	760	36	public	public	ADJ
cblr-1695	760	37	markets	market	NOUN
cblr-1695	760	38	.	.	PUNCT
cblr-1695	761	1	a.	a.	NOUN
cblr-1695	761	2	eliminate	eliminate	VERB
cblr-1695	761	3	benefits	benefit	NOUN
cblr-1695	761	4	awarded	award	VERB
cblr-1695	761	5	to	to	ADP
cblr-1695	761	6	private	private	ADJ
cblr-1695	761	7	capital	capital	NOUN
cblr-1695	761	8	many	many	ADJ
cblr-1695	761	9	companies	company	NOUN
cblr-1695	761	10	forego	forego	VERB
cblr-1695	761	11	an	an	DET
cblr-1695	761	12	ipo	ipo	NOUN
cblr-1695	761	13	in	in	ADP
cblr-1695	761	14	order	order	NOUN
cblr-1695	761	15	to	to	PART
cblr-1695	761	16	avoid	avoid	VERB
cblr-1695	761	17	new	new	ADJ
cblr-1695	761	18	regulations	regulation	NOUN
cblr-1695	761	19	and	and	CCONJ
cblr-1695	761	20	accompanying	accompany	VERB
cblr-1695	761	21	costs,210	costs,210	PROPN
cblr-1695	761	22	instead	instead	ADV
cblr-1695	761	23	tapping	tap	VERB
cblr-1695	761	24	private	private	ADJ
cblr-1695	761	25	capital	capital	NOUN
cblr-1695	761	26	reserves	reserve	NOUN
cblr-1695	761	27	that	that	PRON
cblr-1695	761	28	do	do	AUX
cblr-1695	761	29	not	not	PART
cblr-1695	761	30	trigger	trigger	VERB
cblr-1695	761	31	such	such	ADJ
cblr-1695	761	32	regulations	regulation	NOUN
cblr-1695	761	33	or	or	CCONJ
cblr-1695	761	34	costs	cost	NOUN
cblr-1695	761	35	.	.	PUNCT
cblr-1695	762	1	therefore	therefore	ADV
cblr-1695	762	2	,	,	PUNCT
cblr-1695	762	3	in	in	ADP
cblr-1695	762	4	order	order	NOUN
cblr-1695	762	5	to	to	PART
cblr-1695	762	6	lead	lead	VERB
cblr-1695	762	7	american	american	ADJ
cblr-1695	762	8	companies	company	NOUN
cblr-1695	762	9	to	to	ADP
cblr-1695	762	10	the	the	DET
cblr-1695	762	11	public	public	ADJ
cblr-1695	762	12	markets	market	NOUN
cblr-1695	762	13	,	,	PUNCT
cblr-1695	762	14	the	the	DET
cblr-1695	762	15	sec	sec	PROPN
cblr-1695	762	16	and	and	CCONJ
cblr-1695	762	17	congress	congress	PROPN
cblr-1695	762	18	must	must	AUX
cblr-1695	762	19	eliminate	eliminate	VERB
cblr-1695	762	20	regulations	regulation	NOUN
cblr-1695	762	21	that	that	PRON
cblr-1695	762	22	benefit	benefit	VERB
cblr-1695	762	23	private	private	ADJ
cblr-1695	762	24	capital	capital	NOUN
cblr-1695	762	25	and	and	CCONJ
cblr-1695	762	26	cause	cause	VERB
cblr-1695	762	27	the	the	DET
cblr-1695	762	28	public	public	ADJ
cblr-1695	762	29	markets	market	NOUN
cblr-1695	762	30	—	—	PUNCT
cblr-1695	762	31	and	and	CCONJ
cblr-1695	762	32	the	the	DET
cblr-1695	762	33	distributional	distributional	ADJ
cblr-1695	762	34	equality	equality	NOUN
cblr-1695	762	35	they	they	PRON
cblr-1695	762	36	promote	promote	VERB
cblr-1695	762	37	—	—	PUNCT
cblr-1695	762	38	to	to	PART
cblr-1695	762	39	suffer	suffer	VERB
cblr-1695	762	40	.	.	PUNCT
cblr-1695	763	1	historically	historically	ADV
cblr-1695	763	2	,	,	PUNCT
cblr-1695	763	3	section	section	NOUN
cblr-1695	763	4	12(g	12(g	NUM
cblr-1695	763	5	)	)	PUNCT
cblr-1695	763	6	of	of	ADP
cblr-1695	763	7	the	the	DET
cblr-1695	763	8	1934	1934	NUM
cblr-1695	763	9	act	act	NOUN
cblr-1695	763	10	required	require	VERB
cblr-1695	763	11	companies	company	NOUN
cblr-1695	763	12	to	to	PART
cblr-1695	763	13	become	become	VERB
cblr-1695	763	14	public	public	ADJ
cblr-1695	763	15	reporting	reporting	NOUN
cblr-1695	763	16	companies	company	NOUN
cblr-1695	763	17	—	—	PUNCT
cblr-1695	763	18	and	and	CCONJ
cblr-1695	763	19	,	,	PUNCT
cblr-1695	763	20	as	as	ADP
cblr-1695	763	21	such	such	ADJ
cblr-1695	763	22	,	,	PUNCT
cblr-1695	763	23	publicly	publicly	ADV
cblr-1695	763	24	file	file	VERB
cblr-1695	763	25	regular	regular	ADJ
cblr-1695	763	26	reports	report	NOUN
cblr-1695	763	27	—	—	PUNCT
cblr-1695	763	28	once	once	SCONJ
cblr-1695	763	29	they	they	PRON
cblr-1695	763	30	obtained	obtain	VERB
cblr-1695	763	31	assets	asset	NOUN
cblr-1695	763	32	exceeding	exceed	VERB
cblr-1695	763	33	$	$	SYM
cblr-1695	763	34	1	1	NUM
cblr-1695	763	35	million	million	NUM
cblr-1695	763	36	and	and	CCONJ
cblr-1695	763	37	had	have	VERB
cblr-1695	763	38	500	500	NUM
cblr-1695	763	39	or	or	CCONJ
cblr-1695	763	40	more	more	ADJ
cblr-1695	763	41	shareholders.211	shareholders.211	PROPN
cblr-1695	763	42	this	this	PRON
cblr-1695	763	43	meant	mean	VERB
cblr-1695	763	44	that	that	SCONJ
cblr-1695	763	45	“	"	PUNCT
cblr-1695	763	46	[	[	X
cblr-1695	763	47	f]or	f]or	ADJ
cblr-1695	763	48	decades	decade	NOUN
cblr-1695	763	49	.	.	PUNCT
cblr-1695	763	50	.	.	PUNCT
cblr-1695	763	51	.	.	PUNCT
cblr-1695	764	1	firms	firm	NOUN
cblr-1695	764	2	could	could	AUX
cblr-1695	764	3	raise	raise	VERB
cblr-1695	764	4	only	only	ADV
cblr-1695	764	5	small	small	ADJ
cblr-1695	764	6	amounts	amount	NOUN
cblr-1695	764	7	of	of	ADP
cblr-1695	764	8	money	money	NOUN
cblr-1695	764	9	without	without	ADP
cblr-1695	764	10	triggering	trigger	VERB
cblr-1695	764	11	public	public	ADJ
cblr-1695	764	12	-	-	PUNCT
cblr-1695	764	13	reporting	reporting	NOUN
cblr-1695	764	14	requirements	requirement	NOUN
cblr-1695	764	15	.	.	PUNCT
cblr-1695	764	16	”212	”212	PUNCT
cblr-1695	764	17	however	however	ADV
cblr-1695	764	18	,	,	PUNCT
cblr-1695	764	19	in	in	ADP
cblr-1695	764	20	2012	2012	NUM
cblr-1695	764	21	,	,	PUNCT
cblr-1695	764	22	the	the	DET
cblr-1695	764	23	jobs	job	NOUN
cblr-1695	764	24	act	act	VERB
cblr-1695	764	25	increased	increase	VERB
cblr-1695	764	26	the	the	DET
cblr-1695	764	27	threshold	threshold	NOUN
cblr-1695	764	28	to	to	ADP
cblr-1695	764	29	$	$	SYM
cblr-1695	764	30	10	10	NUM
cblr-1695	764	31	million	million	NUM
cblr-1695	764	32	and	and	CCONJ
cblr-1695	764	33	2000	2000	NUM
cblr-1695	764	34	shareholders	shareholder	NOUN
cblr-1695	764	35	,	,	PUNCT
cblr-1695	764	36	or	or	CCONJ
cblr-1695	764	37	500	500	NUM
cblr-1695	764	38	210	210	NUM
cblr-1695	764	39	see	see	VERB
cblr-1695	764	40	generally	generally	ADV
cblr-1695	764	41	supra	supra	PROPN
cblr-1695	764	42	sections	section	NOUN
cblr-1695	764	43	ii.b.2–3	ii.b.2–3	PROPN
cblr-1695	764	44	.	.	NOUN
cblr-1695	764	45	211	211	NUM
cblr-1695	764	46	see	see	VERB
cblr-1695	764	47	u.s	u.s	PROPN
cblr-1695	764	48	.	.	PROPN
cblr-1695	764	49	congress	congress	PROPN
cblr-1695	764	50	enacts	enact	VERB
cblr-1695	764	51	jobs	job	NOUN
cblr-1695	764	52	act	act	PROPN
cblr-1695	764	53	,	,	PUNCT
cblr-1695	764	54	increasing	increase	VERB
cblr-1695	764	55	499	499	NUM
cblr-1695	764	56	investor	investor	NOUN
cblr-1695	764	57	limit	limit	NOUN
cblr-1695	764	58	for	for	ADP
cblr-1695	764	59	private	private	ADJ
cblr-1695	764	60	funds	fund	NOUN
cblr-1695	764	61	to	to	ADP
cblr-1695	764	62	1,999	1,999	NUM
cblr-1695	764	63	and	and	CCONJ
cblr-1695	764	64	eliminating	eliminate	VERB
cblr-1695	764	65	prohibition	prohibition	NOUN
cblr-1695	764	66	against	against	ADP
cblr-1695	764	67	general	general	ADJ
cblr-1695	764	68	solicitation	solicitation	NOUN
cblr-1695	764	69	in	in	ADP
cblr-1695	764	70	connection	connection	NOUN
cblr-1695	764	71	with	with	ADP
cblr-1695	764	72	certain	certain	ADJ
cblr-1695	764	73	private	private	ADJ
cblr-1695	764	74	offerings	offering	NOUN
cblr-1695	764	75	,	,	PUNCT
cblr-1695	764	76	sidley	sidley	PROPN
cblr-1695	764	77	austin	austin	PROPN
cblr-1695	764	78	llp	llp	PROPN
cblr-1695	764	79	(	(	PUNCT
cblr-1695	764	80	mar	mar	PROPN
cblr-1695	764	81	.	.	PROPN
cblr-1695	764	82	28	28	NUM
cblr-1695	764	83	,	,	PUNCT
cblr-1695	764	84	2012	2012	NUM
cblr-1695	764	85	)	)	PUNCT
cblr-1695	764	86	,	,	PUNCT
cblr-1695	764	87	https://www.sidley.com/en/insights/newsupdates/	https://www.sidley.com/en/insights/newsupdates/	X
cblr-1695	764	88	2012/03	2012/03	NUM
cblr-1695	764	89	/	/	SYM
cblr-1695	764	90	us	us	PROPN
cblr-1695	764	91	-	-	PUNCT
cblr-1695	764	92	congress	congress	NOUN
cblr-1695	764	93	-	-	PUNCT
cblr-1695	764	94	enacts	enact	VERB
cblr-1695	764	95	-	-	PUNCT
cblr-1695	764	96	jobs	job	NOUN
cblr-1695	764	97	-	-	PUNCT
cblr-1695	764	98	act	act	NOUN
cblr-1695	764	99	-	-	PUNCT
cblr-1695	764	100	increasing-499	increasing-499	ADJ
cblr-1695	764	101	-	-	PUNCT
cblr-1695	764	102	investor	investor	NOUN
cblr-1695	764	103	-	-	PUNCT
cblr-1695	764	104	limit	limit	NOUN
cblr-1695	764	105	-	-	PUNCT
cblr-1695	764	106	forprivate	forprivate	NOUN
cblr-1695	764	107	-	-	PUNCT
cblr-1695	764	108	funds	fund	NOUN
cblr-1695	764	109	-	-	PUNCT
cblr-1695	764	110	to-1999	to-1999	NOUN
cblr-1695	764	111	-	-	PUNCT
cblr-1695	764	112	and	and	CCONJ
cblr-1695	764	113	-	-	PUNCT
cblr-1695	764	114	eliminating	eliminating	NOUN
cblr-1695	764	115	-	-	PUNCT
cblr-1695	764	116	prohibition	prohibition	NOUN
cblr-1695	764	117	-	-	PUNCT
cblr-1695	764	118	against	against	ADP
cblr-1695	764	119	-	-	PUNCT
cblr-1695	764	120	generalsolicitation	generalsolicitation	NOUN
cblr-1695	764	121	-	-	PUNCT
cblr-1695	764	122	in	in	ADP
cblr-1695	764	123	-	-	PUNCT
cblr-1695	764	124	connection	connection	NOUN
cblr-1695	764	125	-	-	PUNCT
cblr-1695	764	126	with	with	ADP
cblr-1695	764	127	-	-	PUNCT
cblr-1695	764	128	certain	certain	ADJ
cblr-1695	764	129	-	-	PUNCT
cblr-1695	764	130	private	private	ADJ
cblr-1695	764	131	-	-	PUNCT
cblr-1695	764	132	offerings	offering	NOUN
cblr-1695	764	133	(	(	PUNCT
cblr-1695	764	134	on	on	ADP
cblr-1695	764	135	file	file	NOUN
cblr-1695	764	136	with	with	ADP
cblr-1695	764	137	the	the	DET
cblr-1695	764	138	columbia	columbia	PROPN
cblr-1695	764	139	business	business	PROPN
cblr-1695	764	140	law	law	PROPN
cblr-1695	764	141	review	review	PROPN
cblr-1695	764	142	)	)	PUNCT
cblr-1695	764	143	.	.	PUNCT
cblr-1695	765	1	212	212	NUM
cblr-1695	765	2	partnoy	partnoy	ADJ
cblr-1695	765	3	,	,	PUNCT
cblr-1695	765	4	supra	supra	ADJ
cblr-1695	765	5	note	note	NOUN
cblr-1695	765	6	193	193	NUM
cblr-1695	765	7	.	.	PUNCT
cblr-1695	766	1	no	no	INTJ
cblr-1695	766	2	.	.	PUNCT
cblr-1695	767	1	1:305	1:305	NUM
cblr-1695	767	2	]	]	X
cblr-1695	767	3	going	go	VERB
cblr-1695	767	4	public	public	ADJ
cblr-1695	767	5	secretly	secretly	ADV
cblr-1695	767	6	357	357	NUM
cblr-1695	767	7	shareholders	shareholder	NOUN
cblr-1695	767	8	who	who	PRON
cblr-1695	767	9	are	be	AUX
cblr-1695	767	10	not	not	PART
cblr-1695	767	11	accredited	accredit	VERB
cblr-1695	767	12	investors.213	investors.213	NOUN
cblr-1695	767	13	this	this	PRON
cblr-1695	767	14	was	be	AUX
cblr-1695	767	15	a	a	DET
cblr-1695	767	16	grave	grave	ADJ
cblr-1695	767	17	mistake	mistake	NOUN
cblr-1695	767	18	because	because	SCONJ
cblr-1695	767	19	it	it	PRON
cblr-1695	767	20	encourages	encourage	VERB
cblr-1695	767	21	companies	company	NOUN
cblr-1695	767	22	to	to	PART
cblr-1695	767	23	consider	consider	VERB
cblr-1695	767	24	obtaining	obtain	VERB
cblr-1695	767	25	greater	great	ADJ
cblr-1695	767	26	levels	level	NOUN
cblr-1695	767	27	of	of	ADP
cblr-1695	767	28	private	private	ADJ
cblr-1695	767	29	capital	capital	NOUN
cblr-1695	767	30	without	without	ADP
cblr-1695	767	31	having	have	VERB
cblr-1695	767	32	to	to	PART
cblr-1695	767	33	worry	worry	VERB
cblr-1695	767	34	about	about	ADP
cblr-1695	767	35	making	make	VERB
cblr-1695	767	36	public	public	ADJ
cblr-1695	767	37	filings	filing	NOUN
cblr-1695	767	38	.	.	PUNCT
cblr-1695	768	1	instead	instead	ADV
cblr-1695	768	2	,	,	PUNCT
cblr-1695	768	3	if	if	SCONJ
cblr-1695	768	4	the	the	DET
cblr-1695	768	5	sec	sec	PROPN
cblr-1695	768	6	wishes	wish	VERB
cblr-1695	768	7	to	to	PART
cblr-1695	768	8	revitalize	revitalize	VERB
cblr-1695	768	9	the	the	DET
cblr-1695	768	10	ipo	ipo	NOUN
cblr-1695	768	11	market	market	NOUN
cblr-1695	768	12	,	,	PUNCT
cblr-1695	768	13	it	it	PRON
cblr-1695	768	14	should	should	AUX
cblr-1695	768	15	work	work	VERB
cblr-1695	768	16	with	with	ADP
cblr-1695	768	17	congress	congress	PROPN
cblr-1695	768	18	to	to	PART
cblr-1695	768	19	reduce	reduce	VERB
cblr-1695	768	20	the	the	DET
cblr-1695	768	21	threshold	threshold	NOUN
cblr-1695	768	22	for	for	ADP
cblr-1695	768	23	when	when	SCONJ
cblr-1695	768	24	companies	company	NOUN
cblr-1695	768	25	must	must	AUX
cblr-1695	768	26	comply	comply	VERB
cblr-1695	768	27	with	with	ADP
cblr-1695	768	28	disclosure	disclosure	NOUN
cblr-1695	768	29	requirements	requirement	NOUN
cblr-1695	768	30	.	.	PUNCT
cblr-1695	769	1	one	one	NUM
cblr-1695	769	2	of	of	ADP
cblr-1695	769	3	the	the	DET
cblr-1695	769	4	main	main	ADJ
cblr-1695	769	5	reasons	reason	NOUN
cblr-1695	769	6	that	that	PRON
cblr-1695	769	7	companies	company	NOUN
cblr-1695	769	8	seek	seek	VERB
cblr-1695	769	9	private	private	ADJ
cblr-1695	769	10	capital	capital	NOUN
cblr-1695	769	11	as	as	SCONJ
cblr-1695	769	12	opposed	oppose	VERB
cblr-1695	769	13	to	to	ADP
cblr-1695	769	14	public	public	ADJ
cblr-1695	769	15	is	be	AUX
cblr-1695	769	16	the	the	DET
cblr-1695	769	17	ability	ability	NOUN
cblr-1695	769	18	to	to	PART
cblr-1695	769	19	avoid	avoid	VERB
cblr-1695	769	20	disclosure	disclosure	NOUN
cblr-1695	769	21	laws.214	laws.214	PROPN
cblr-1695	769	22	therefore	therefore	ADV
cblr-1695	769	23	,	,	PUNCT
cblr-1695	769	24	the	the	DET
cblr-1695	769	25	jobs	job	NOUN
cblr-1695	769	26	act	act	PROPN
cblr-1695	769	27	’s	’s	PART
cblr-1695	769	28	quadrupling	quadrupling	NOUN
cblr-1695	769	29	of	of	ADP
cblr-1695	769	30	the	the	DET
cblr-1695	769	31	reporting	reporting	NOUN
cblr-1695	769	32	threshold	threshold	NOUN
cblr-1695	769	33	—	—	PUNCT
cblr-1695	769	34	in	in	ADP
cblr-1695	769	35	terms	term	NOUN
cblr-1695	769	36	of	of	ADP
cblr-1695	769	37	number	number	NOUN
cblr-1695	769	38	of	of	ADP
cblr-1695	769	39	shareholders	shareholder	NOUN
cblr-1695	769	40	—	—	PUNCT
cblr-1695	769	41	allows	allow	VERB
cblr-1695	769	42	companies	company	NOUN
cblr-1695	769	43	to	to	PART
cblr-1695	769	44	continue	continue	VERB
cblr-1695	769	45	to	to	PART
cblr-1695	769	46	seek	seek	VERB
cblr-1695	769	47	additional	additional	ADJ
cblr-1695	769	48	private	private	ADJ
cblr-1695	769	49	funding	funding	NOUN
cblr-1695	769	50	and	and	CCONJ
cblr-1695	769	51	avoid	avoid	VERB
cblr-1695	769	52	public	public	ADJ
cblr-1695	769	53	disclosure	disclosure	NOUN
cblr-1695	769	54	.	.	PUNCT
cblr-1695	770	1	instead	instead	ADV
cblr-1695	770	2	,	,	PUNCT
cblr-1695	770	3	the	the	DET
cblr-1695	770	4	reporting	reporting	NOUN
cblr-1695	770	5	threshold	threshold	NOUN
cblr-1695	770	6	should	should	AUX
cblr-1695	770	7	be	be	AUX
cblr-1695	770	8	returned	return	VERB
cblr-1695	770	9	to	to	ADP
cblr-1695	770	10	500	500	NUM
cblr-1695	770	11	shareholders	shareholder	NOUN
cblr-1695	770	12	,	,	PUNCT
cblr-1695	770	13	or	or	CCONJ
cblr-1695	770	14	perhaps	perhaps	ADV
cblr-1695	770	15	lowered	lower	VERB
cblr-1695	770	16	even	even	ADV
cblr-1695	770	17	further	far	ADV
cblr-1695	770	18	.	.	PUNCT
cblr-1695	771	1	for	for	ADP
cblr-1695	771	2	example	example	NOUN
cblr-1695	771	3	,	,	PUNCT
cblr-1695	771	4	if	if	SCONJ
cblr-1695	771	5	a	a	DET
cblr-1695	771	6	company	company	NOUN
cblr-1695	771	7	with	with	ADP
cblr-1695	771	8	250	250	NUM
cblr-1695	771	9	shareholders	shareholder	NOUN
cblr-1695	771	10	was	be	AUX
cblr-1695	771	11	required	require	VERB
cblr-1695	771	12	to	to	PART
cblr-1695	771	13	comply	comply	VERB
cblr-1695	771	14	with	with	ADP
cblr-1695	771	15	securities	security	NOUN
cblr-1695	771	16	disclosure	disclosure	NOUN
cblr-1695	771	17	laws	law	NOUN
cblr-1695	771	18	,	,	PUNCT
cblr-1695	771	19	such	such	DET
cblr-1695	771	20	a	a	DET
cblr-1695	771	21	company	company	NOUN
cblr-1695	771	22	would	would	AUX
cblr-1695	771	23	likely	likely	ADV
cblr-1695	771	24	consider	consider	VERB
cblr-1695	771	25	an	an	DET
cblr-1695	771	26	ipo	ipo	NOUN
cblr-1695	771	27	earlier	early	ADV
cblr-1695	771	28	in	in	ADP
cblr-1695	771	29	its	its	PRON
cblr-1695	771	30	growth	growth	NOUN
cblr-1695	771	31	since	since	SCONJ
cblr-1695	771	32	one	one	NUM
cblr-1695	771	33	benefit	benefit	NOUN
cblr-1695	771	34	of	of	ADP
cblr-1695	771	35	remaining	remain	VERB
cblr-1695	771	36	private	private	ADJ
cblr-1695	771	37	—	—	PUNCT
cblr-1695	771	38	avoiding	avoid	VERB
cblr-1695	771	39	disclosure	disclosure	NOUN
cblr-1695	771	40	laws	law	NOUN
cblr-1695	771	41	—	—	PUNCT
cblr-1695	771	42	would	would	AUX
cblr-1695	771	43	cease	cease	VERB
cblr-1695	771	44	to	to	PART
cblr-1695	771	45	exist	exist	VERB
cblr-1695	771	46	after	after	SCONJ
cblr-1695	771	47	only	only	ADV
cblr-1695	771	48	a	a	DET
cblr-1695	771	49	few	few	ADJ
cblr-1695	771	50	hundred	hundred	NUM
cblr-1695	771	51	investors	investor	NOUN
cblr-1695	771	52	became	become	VERB
cblr-1695	771	53	shareholders	shareholder	NOUN
cblr-1695	771	54	.	.	PUNCT
cblr-1695	772	1	perhaps	perhaps	ADV
cblr-1695	772	2	due	due	ADP
cblr-1695	772	3	to	to	ADP
cblr-1695	772	4	its	its	PRON
cblr-1695	772	5	failure	failure	NOUN
cblr-1695	772	6	in	in	ADP
cblr-1695	772	7	bringing	bring	VERB
cblr-1695	772	8	new	new	ADJ
cblr-1695	772	9	companies	company	NOUN
cblr-1695	772	10	into	into	ADP
cblr-1695	772	11	the	the	DET
cblr-1695	772	12	public	public	ADJ
cblr-1695	772	13	markets	market	NOUN
cblr-1695	772	14	,	,	PUNCT
cblr-1695	772	15	the	the	DET
cblr-1695	772	16	sec	sec	PROPN
cblr-1695	772	17	has	have	AUX
cblr-1695	772	18	instead	instead	ADV
cblr-1695	772	19	begun	begin	VERB
cblr-1695	772	20	to	to	PART
cblr-1695	772	21	consider	consider	VERB
cblr-1695	772	22	the	the	DET
cblr-1695	772	23	opposite	opposite	NOUN
cblr-1695	772	24	:	:	PUNCT
cblr-1695	772	25	pushing	push	VERB
cblr-1695	772	26	more	more	ADJ
cblr-1695	772	27	investors	investor	NOUN
cblr-1695	772	28	to	to	ADP
cblr-1695	772	29	the	the	DET
cblr-1695	772	30	private	private	ADJ
cblr-1695	772	31	markets.215	markets.215	NOUN
cblr-1695	772	32	this	this	PRON
cblr-1695	772	33	is	be	AUX
cblr-1695	772	34	well	well	ADV
cblr-1695	772	35	-	-	PUNCT
cblr-1695	772	36	intended	intend	VERB
cblr-1695	772	37	.	.	PUNCT
cblr-1695	773	1	struggling	struggle	VERB
cblr-1695	773	2	with	with	ADP
cblr-1695	773	3	how	how	SCONJ
cblr-1695	773	4	to	to	PART
cblr-1695	773	5	revitalize	revitalize	VERB
cblr-1695	773	6	the	the	DET
cblr-1695	773	7	capital	capital	NOUN
cblr-1695	773	8	markets	market	NOUN
cblr-1695	773	9	generally	generally	ADV
cblr-1695	773	10	,	,	PUNCT
cblr-1695	773	11	chairman	chairman	PROPN
cblr-1695	773	12	clayton	clayton	PROPN
cblr-1695	773	13	is	be	AUX
cblr-1695	773	14	attempting	attempt	VERB
cblr-1695	773	15	to	to	PART
cblr-1695	773	16	provide	provide	VERB
cblr-1695	773	17	“	"	PUNCT
cblr-1695	773	18	main	main	ADJ
cblr-1695	773	19	street	street	NOUN
cblr-1695	773	20	investors	investor	NOUN
cblr-1695	773	21	”	"	PUNCT
cblr-1695	773	22	with	with	ADP
cblr-1695	773	23	an	an	DET
cblr-1695	773	24	opportunity	opportunity	NOUN
cblr-1695	773	25	to	to	PART
cblr-1695	773	26	invest	invest	VERB
cblr-1695	773	27	in	in	ADP
cblr-1695	773	28	companies	company	NOUN
cblr-1695	773	29	that	that	PRON
cblr-1695	773	30	are	be	AUX
cblr-1695	773	31	currently	currently	ADV
cblr-1695	773	32	“	"	PUNCT
cblr-1695	773	33	out	out	ADP
cblr-1695	773	34	of	of	ADP
cblr-1695	773	35	their	their	PRON
cblr-1695	773	36	reach	reach	NOUN
cblr-1695	773	37	”	"	PUNCT
cblr-1695	773	38	since	since	SCONJ
cblr-1695	773	39	they	they	PRON
cblr-1695	773	40	are	be	AUX
cblr-1695	773	41	private.216	private.216	VERB
cblr-1695	773	42	however	however	ADV
cblr-1695	773	43	,	,	PUNCT
cblr-1695	773	44	this	this	PRON
cblr-1695	773	45	is	be	AUX
cblr-1695	773	46	the	the	DET
cblr-1695	773	47	wrong	wrong	ADJ
cblr-1695	773	48	approach	approach	NOUN
cblr-1695	773	49	and	and	CCONJ
cblr-1695	773	50	threatens	threaten	VERB
cblr-1695	773	51	the	the	DET
cblr-1695	773	52	public	public	ADJ
cblr-1695	773	53	markets	market	NOUN
cblr-1695	773	54	and	and	CCONJ
cblr-1695	773	55	investors	investor	NOUN
cblr-1695	773	56	generally	generally	ADV
cblr-1695	773	57	.	.	PUNCT
cblr-1695	774	1	since	since	SCONJ
cblr-1695	774	2	the	the	DET
cblr-1695	774	3	great	great	ADJ
cblr-1695	774	4	depression	depression	NOUN
cblr-1695	774	5	,	,	PUNCT
cblr-1695	774	6	the	the	DET
cblr-1695	774	7	mandatory	mandatory	ADJ
cblr-1695	774	8	disclosure	disclosure	NOUN
cblr-1695	774	9	system	system	NOUN
cblr-1695	774	10	imposed	impose	VERB
cblr-1695	774	11	on	on	ADP
cblr-1695	774	12	public	public	ADJ
cblr-1695	774	13	companies	company	NOUN
cblr-1695	774	14	has	have	AUX
cblr-1695	774	15	focused	focus	VERB
cblr-1695	774	16	on	on	ADP
cblr-1695	774	17	consumer	consumer	NOUN
cblr-1695	774	18	protection	protection	NOUN
cblr-1695	774	19	by	by	ADP
cblr-1695	774	20	ensuring	ensure	VERB
cblr-1695	774	21	that	that	SCONJ
cblr-1695	774	22	as	as	ADP
cblr-1695	774	23	much	much	ADJ
cblr-1695	774	24	information	information	NOUN
cblr-1695	774	25	as	as	ADP
cblr-1695	774	26	possible	possible	ADJ
cblr-1695	774	27	213	213	NUM
cblr-1695	774	28	see	see	VERB
cblr-1695	774	29	changes	change	NOUN
cblr-1695	774	30	to	to	PART
cblr-1695	774	31	exchange	exchange	VERB
cblr-1695	774	32	act	act	NOUN
cblr-1695	774	33	registration	registration	NOUN
cblr-1695	774	34	requirements	requirement	NOUN
cblr-1695	774	35	to	to	PART
cblr-1695	774	36	implement	implement	VERB
cblr-1695	774	37	title	title	NOUN
cblr-1695	774	38	v	v	NOUN
cblr-1695	774	39	and	and	CCONJ
cblr-1695	774	40	title	title	NOUN
cblr-1695	774	41	vi	vi	PROPN
cblr-1695	774	42	of	of	ADP
cblr-1695	774	43	the	the	DET
cblr-1695	774	44	jobs	job	NOUN
cblr-1695	774	45	act	act	PROPN
cblr-1695	774	46	,	,	PUNCT
cblr-1695	774	47	sec	sec	PROPN
cblr-1695	774	48	.	.	PROPN
cblr-1695	774	49	&	&	CCONJ
cblr-1695	774	50	exchange	exchange	PROPN
cblr-1695	774	51	commission	commission	PROPN
cblr-1695	774	52	(	(	PUNCT
cblr-1695	774	53	may	may	PROPN
cblr-1695	774	54	24	24	NUM
cblr-1695	774	55	,	,	PUNCT
cblr-1695	774	56	2016	2016	NUM
cblr-1695	774	57	)	)	PUNCT
cblr-1695	774	58	,	,	PUNCT
cblr-1695	774	59	https://www.sec.gov/info/smallbus/secg/jobsact-section-12g-small-business-compliance-guide.htm	https://www.sec.gov/info/smallbus/secg/jobsact-section-12g-small-business-compliance-guide.htm	PROPN
cblr-1695	775	1	[	[	X
cblr-1695	775	2	https://perma.cc/p2	https://perma.cc/p2	X
cblr-1695	775	3	cw-8gz2	cw-8gz2	NOUN
cblr-1695	775	4	]	]	PUNCT
cblr-1695	775	5	.	.	PUNCT
cblr-1695	776	1	214	214	NUM
cblr-1695	776	2	see	see	VERB
cblr-1695	776	3	section	section	PROPN
cblr-1695	776	4	ii.b.2	ii.b.2	PROPN
cblr-1695	776	5	.	.	PUNCT
cblr-1695	777	1	215	215	NUM
cblr-1695	777	2	see	see	NOUN
cblr-1695	777	3	michaels	michael	NOUN
cblr-1695	777	4	,	,	PUNCT
cblr-1695	777	5	supra	supra	PROPN
cblr-1695	777	6	note	note	NOUN
cblr-1695	777	7	197	197	NUM
cblr-1695	777	8	.	.	NUM
cblr-1695	777	9	216	216	NUM
cblr-1695	778	1	i	i	PROPN
cblr-1695	778	2	d.	d.	PROPN
cblr-1695	778	3	358	358	NUM
cblr-1695	778	4	columbia	columbia	PROPN
cblr-1695	778	5	business	business	PROPN
cblr-1695	778	6	law	law	PROPN
cblr-1695	778	7	review	review	NOUN
cblr-1695	779	1	[	[	X
cblr-1695	779	2	vol	vol	NOUN
cblr-1695	779	3	.	.	PUNCT
cblr-1695	779	4	2019	2019	NUM
cblr-1695	779	5	comes	come	VERB
cblr-1695	779	6	into	into	ADP
cblr-1695	779	7	the	the	DET
cblr-1695	779	8	light	light	NOUN
cblr-1695	779	9	so	so	SCONJ
cblr-1695	779	10	that	that	SCONJ
cblr-1695	779	11	investors	investor	NOUN
cblr-1695	779	12	are	be	AUX
cblr-1695	779	13	aware	aware	ADJ
cblr-1695	779	14	of	of	ADP
cblr-1695	779	15	the	the	DET
cblr-1695	779	16	risks	risk	NOUN
cblr-1695	779	17	in	in	ADP
cblr-1695	779	18	purchasing	purchase	VERB
cblr-1695	779	19	a	a	DET
cblr-1695	779	20	given	give	VERB
cblr-1695	779	21	stock.217	stock.217	ADJ
cblr-1695	779	22	private	private	ADJ
cblr-1695	779	23	securities	security	NOUN
cblr-1695	779	24	,	,	PUNCT
cblr-1695	779	25	on	on	ADP
cblr-1695	779	26	the	the	DET
cblr-1695	779	27	other	other	ADJ
cblr-1695	779	28	hand	hand	NOUN
cblr-1695	779	29	,	,	PUNCT
cblr-1695	779	30	are	be	AUX
cblr-1695	779	31	“	"	PUNCT
cblr-1695	779	32	off	off	ADP
cblr-1695	779	33	the	the	DET
cblr-1695	779	34	radar	radar	NOUN
cblr-1695	779	35	of	of	ADP
cblr-1695	779	36	federal	federal	ADJ
cblr-1695	779	37	regulators	regulator	NOUN
cblr-1695	779	38	,	,	PUNCT
cblr-1695	779	39	”	"	PUNCT
cblr-1695	779	40	and	and	CCONJ
cblr-1695	779	41	,	,	PUNCT
cblr-1695	779	42	as	as	ADP
cblr-1695	779	43	such	such	ADJ
cblr-1695	779	44	,	,	PUNCT
cblr-1695	779	45	“	"	PUNCT
cblr-1695	779	46	[	[	X
cblr-1695	779	47	t]here	t]here	PROPN
cblr-1695	779	48	is	be	AUX
cblr-1695	779	49	typically	typically	ADV
cblr-1695	779	50	less	less	ADJ
cblr-1695	779	51	information	information	NOUN
cblr-1695	779	52	available	available	ADJ
cblr-1695	779	53	about	about	ADP
cblr-1695	779	54	the	the	DET
cblr-1695	779	55	firms	firm	NOUN
cblr-1695	779	56	,	,	PUNCT
cblr-1695	779	57	increasing	increase	VERB
cblr-1695	779	58	risks	risk	NOUN
cblr-1695	779	59	for	for	ADP
cblr-1695	779	60	investors	investor	NOUN
cblr-1695	779	61	.	.	PUNCT
cblr-1695	779	62	”218	”218	NOUN
cblr-1695	779	63	therefore	therefore	ADV
cblr-1695	779	64	,	,	PUNCT
cblr-1695	779	65	not	not	PART
cblr-1695	779	66	only	only	ADV
cblr-1695	779	67	would	would	AUX
cblr-1695	779	68	new	new	ADJ
cblr-1695	779	69	rules	rule	NOUN
cblr-1695	779	70	allowing	allow	VERB
cblr-1695	779	71	more	more	ADJ
cblr-1695	779	72	investors	investor	NOUN
cblr-1695	779	73	into	into	ADP
cblr-1695	779	74	the	the	DET
cblr-1695	779	75	private	private	ADJ
cblr-1695	779	76	securities	security	NOUN
cblr-1695	779	77	markets	market	NOUN
cblr-1695	779	78	likely	likely	ADV
cblr-1695	779	79	result	result	VERB
cblr-1695	779	80	in	in	ADP
cblr-1695	779	81	further	further	ADJ
cblr-1695	779	82	declines	decline	NOUN
cblr-1695	779	83	in	in	ADP
cblr-1695	779	84	ipos	ipos	NOUN
cblr-1695	779	85	(	(	PUNCT
cblr-1695	779	86	since	since	SCONJ
cblr-1695	779	87	there	there	PRON
cblr-1695	779	88	would	would	AUX
cblr-1695	779	89	be	be	AUX
cblr-1695	779	90	an	an	DET
cblr-1695	779	91	even	even	ADV
cblr-1695	779	92	greater	great	ADJ
cblr-1695	779	93	abundance	abundance	NOUN
cblr-1695	779	94	of	of	ADP
cblr-1695	779	95	private	private	ADJ
cblr-1695	779	96	capital	capital	NOUN
cblr-1695	779	97	)	)	PUNCT
cblr-1695	779	98	,	,	PUNCT
cblr-1695	779	99	but	but	CCONJ
cblr-1695	779	100	it	it	PRON
cblr-1695	779	101	would	would	AUX
cblr-1695	779	102	also	also	ADV
cblr-1695	779	103	subject	subject	VERB
cblr-1695	779	104	investors	investor	NOUN
cblr-1695	779	105	to	to	ADP
cblr-1695	779	106	investments	investment	NOUN
cblr-1695	779	107	whose	whose	DET
cblr-1695	779	108	risks	risk	NOUN
cblr-1695	779	109	may	may	AUX
cblr-1695	779	110	remain	remain	VERB
cblr-1695	779	111	undisclosed	undisclosed	ADJ
cblr-1695	779	112	,	,	PUNCT
cblr-1695	779	113	thus	thus	ADV
cblr-1695	779	114	making	make	VERB
cblr-1695	779	115	the	the	DET
cblr-1695	779	116	investments	investment	NOUN
cblr-1695	779	117	themselves	themselves	PRON
cblr-1695	779	118	exponentially	exponentially	ADV
cblr-1695	779	119	more	more	ADV
cblr-1695	779	120	risky	risky	ADJ
cblr-1695	779	121	.	.	PUNCT
cblr-1695	780	1	in	in	ADP
cblr-1695	780	2	sum	sum	NOUN
cblr-1695	780	3	,	,	PUNCT
cblr-1695	780	4	rather	rather	ADV
cblr-1695	780	5	than	than	ADP
cblr-1695	780	6	encouraging	encourage	VERB
cblr-1695	780	7	more	more	ADJ
cblr-1695	780	8	private	private	ADJ
cblr-1695	780	9	investment	investment	NOUN
cblr-1695	780	10	,	,	PUNCT
cblr-1695	780	11	the	the	DET
cblr-1695	780	12	sec	sec	PROPN
cblr-1695	780	13	and	and	CCONJ
cblr-1695	780	14	congress	congress	PROPN
cblr-1695	780	15	should	should	AUX
cblr-1695	780	16	eliminate	eliminate	VERB
cblr-1695	780	17	benefits	benefit	NOUN
cblr-1695	780	18	that	that	PRON
cblr-1695	780	19	companies	company	NOUN
cblr-1695	780	20	enjoy	enjoy	VERB
cblr-1695	780	21	by	by	ADP
cblr-1695	780	22	remaining	remain	VERB
cblr-1695	780	23	private	private	ADJ
cblr-1695	780	24	and	and	CCONJ
cblr-1695	780	25	instead	instead	ADV
cblr-1695	780	26	cultivate	cultivate	VERB
cblr-1695	780	27	a	a	DET
cblr-1695	780	28	system	system	NOUN
cblr-1695	780	29	in	in	ADP
cblr-1695	780	30	which	which	PRON
cblr-1695	780	31	there	there	PRON
cblr-1695	780	32	is	be	VERB
cblr-1695	780	33	little	little	ADJ
cblr-1695	780	34	benefit	benefit	NOUN
cblr-1695	780	35	—	—	PUNCT
cblr-1695	780	36	such	such	ADJ
cblr-1695	780	37	as	as	ADP
cblr-1695	780	38	from	from	ADP
cblr-1695	780	39	a	a	DET
cblr-1695	780	40	disclosure	disclosure	NOUN
cblr-1695	780	41	standpoint	standpoint	NOUN
cblr-1695	780	42	—	—	PUNCT
cblr-1695	780	43	in	in	ADP
cblr-1695	780	44	seeking	seek	VERB
cblr-1695	780	45	private	private	ADJ
cblr-1695	780	46	capital	capital	NOUN
cblr-1695	780	47	rather	rather	ADV
cblr-1695	780	48	than	than	ADP
cblr-1695	780	49	public	public	ADJ
cblr-1695	780	50	.	.	PUNCT
cblr-1695	781	1	with	with	ADP
cblr-1695	781	2	little	little	ADJ
cblr-1695	781	3	benefit	benefit	NOUN
cblr-1695	781	4	to	to	ADP
cblr-1695	781	5	seeking	seek	VERB
cblr-1695	781	6	private	private	ADJ
cblr-1695	781	7	capital	capital	NOUN
cblr-1695	781	8	,	,	PUNCT
cblr-1695	781	9	companies	company	NOUN
cblr-1695	781	10	would	would	AUX
cblr-1695	781	11	be	be	AUX
cblr-1695	781	12	more	more	ADV
cblr-1695	781	13	likely	likely	ADJ
cblr-1695	781	14	to	to	PART
cblr-1695	781	15	consider	consider	VERB
cblr-1695	781	16	an	an	DET
cblr-1695	781	17	ipo	ipo	NOUN
cblr-1695	781	18	.	.	PUNCT
cblr-1695	782	1	b.	b.	PROPN
cblr-1695	782	2	create	create	VERB
cblr-1695	782	3	meaningful	meaningful	ADJ
cblr-1695	782	4	benefits	benefit	NOUN
cblr-1695	782	5	for	for	ADP
cblr-1695	782	6	companies	company	NOUN
cblr-1695	782	7	that	that	PRON
cblr-1695	782	8	elect	elect	VERB
cblr-1695	782	9	to	to	PART
cblr-1695	782	10	go	go	VERB
cblr-1695	782	11	public	public	ADJ
cblr-1695	782	12	in	in	ADP
cblr-1695	782	13	addition	addition	NOUN
cblr-1695	782	14	to	to	ADP
cblr-1695	782	15	eliminating	eliminate	VERB
cblr-1695	782	16	the	the	DET
cblr-1695	782	17	privileged	privileged	ADJ
cblr-1695	782	18	status	status	NOUN
cblr-1695	782	19	that	that	PRON
cblr-1695	782	20	private	private	ADJ
cblr-1695	782	21	capital	capital	NOUN
cblr-1695	782	22	holds	hold	VERB
cblr-1695	782	23	over	over	ADP
cblr-1695	782	24	the	the	DET
cblr-1695	782	25	public	public	ADJ
cblr-1695	782	26	markets	market	NOUN
cblr-1695	782	27	,	,	PUNCT
cblr-1695	782	28	the	the	DET
cblr-1695	782	29	sec	sec	PROPN
cblr-1695	782	30	and	and	CCONJ
cblr-1695	782	31	congress	congress	PROPN
cblr-1695	782	32	must	must	AUX
cblr-1695	782	33	also	also	ADV
cblr-1695	782	34	effectuate	effectuate	VERB
cblr-1695	782	35	policies	policy	NOUN
cblr-1695	782	36	in	in	ADP
cblr-1695	782	37	which	which	PRON
cblr-1695	782	38	companies	company	NOUN
cblr-1695	782	39	are	be	AUX
cblr-1695	782	40	actively	actively	ADV
cblr-1695	782	41	incentivized	incentivize	VERB
cblr-1695	782	42	to	to	PART
cblr-1695	782	43	go	go	VERB
cblr-1695	782	44	public	public	ADJ
cblr-1695	782	45	despite	despite	SCONJ
cblr-1695	782	46	benefits	benefit	NOUN
cblr-1695	782	47	that	that	PRON
cblr-1695	782	48	private	private	ADJ
cblr-1695	782	49	capital	capital	NOUN
cblr-1695	782	50	may	may	AUX
cblr-1695	782	51	offer	offer	VERB
cblr-1695	782	52	.	.	PUNCT
cblr-1695	783	1	by	by	ADP
cblr-1695	783	2	actively	actively	ADV
cblr-1695	783	3	eliminating	eliminate	VERB
cblr-1695	783	4	deterrents	deterrent	NOUN
cblr-1695	783	5	that	that	PRON
cblr-1695	783	6	companies	company	NOUN
cblr-1695	783	7	cite	cite	VERB
cblr-1695	783	8	as	as	ADP
cblr-1695	783	9	reasons	reason	NOUN
cblr-1695	783	10	to	to	PART
cblr-1695	783	11	not	not	PART
cblr-1695	783	12	go	go	VERB
cblr-1695	783	13	public	public	ADJ
cblr-1695	783	14	—	—	PUNCT
cblr-1695	783	15	namely	namely	ADV
cblr-1695	783	16	regulatory	regulatory	ADJ
cblr-1695	783	17	compliance	compliance	NOUN
cblr-1695	783	18	mandates	mandate	NOUN
cblr-1695	783	19	and	and	CCONJ
cblr-1695	783	20	increased	increase	VERB
cblr-1695	783	21	costs219	costs219	PROPN
cblr-1695	783	22	—	—	PUNCT
cblr-1695	783	23	the	the	DET
cblr-1695	783	24	public	public	ADJ
cblr-1695	783	25	markets	market	NOUN
cblr-1695	783	26	will	will	AUX
cblr-1695	783	27	become	become	VERB
cblr-1695	783	28	more	more	ADV
cblr-1695	783	29	attractive	attractive	ADJ
cblr-1695	783	30	.	.	PUNCT
cblr-1695	784	1	this	this	DET
cblr-1695	784	2	section	section	NOUN
cblr-1695	784	3	advocates	advocate	VERB
cblr-1695	784	4	for	for	ADP
cblr-1695	784	5	the	the	DET
cblr-1695	784	6	sec	sec	PROPN
cblr-1695	784	7	to	to	PART
cblr-1695	784	8	explore	explore	VERB
cblr-1695	784	9	policies	policy	NOUN
cblr-1695	784	10	that	that	PRON
cblr-1695	784	11	significantly	significantly	ADV
cblr-1695	784	12	reduce	reduce	VERB
cblr-1695	784	13	regulatory	regulatory	ADJ
cblr-1695	784	14	compliance	compliance	NOUN
cblr-1695	784	15	requirements	requirement	NOUN
cblr-1695	784	16	and	and	CCONJ
cblr-1695	784	17	associated	associate	VERB
cblr-1695	784	18	costs	cost	NOUN
cblr-1695	784	19	for	for	ADP
cblr-1695	784	20	companies	company	NOUN
cblr-1695	784	21	that	that	PRON
cblr-1695	784	22	go	go	VERB
cblr-1695	784	23	public	public	ADJ
cblr-1695	784	24	—	—	PUNCT
cblr-1695	784	25	especially	especially	ADV
cblr-1695	784	26	in	in	ADP
cblr-1695	784	27	a	a	DET
cblr-1695	784	28	new	new	ADJ
cblr-1695	784	29	public	public	ADJ
cblr-1695	784	30	company	company	NOUN
cblr-1695	784	31	’s	’s	PART
cblr-1695	784	32	early	early	ADJ
cblr-1695	784	33	years	year	NOUN
cblr-1695	784	34	.	.	PUNCT
cblr-1695	785	1	doing	do	VERB
cblr-1695	785	2	so	so	ADV
cblr-1695	785	3	would	would	AUX
cblr-1695	785	4	allow	allow	VERB
cblr-1695	785	5	companies	company	NOUN
cblr-1695	785	6	to	to	PART
cblr-1695	785	7	begin	begin	VERB
cblr-1695	785	8	to	to	PART
cblr-1695	785	9	incur	incur	VERB
cblr-1695	785	10	these	these	DET
cblr-1695	785	11	increased	increase	VERB
cblr-1695	785	12	costs	cost	NOUN
cblr-1695	785	13	in	in	ADP
cblr-1695	785	14	later	later	ADJ
cblr-1695	785	15	years	year	NOUN
cblr-1695	785	16	as	as	ADP
cblr-1695	785	17	a	a	DET
cblr-1695	785	18	public	public	ADJ
cblr-1695	785	19	company	company	NOUN
cblr-1695	785	20	.	.	PUNCT
cblr-1695	786	1	in	in	ADP
cblr-1695	786	2	fact	fact	NOUN
cblr-1695	786	3	,	,	PUNCT
cblr-1695	786	4	companies	company	NOUN
cblr-1695	786	5	could	could	AUX
cblr-1695	786	6	perhaps	perhaps	ADV
cblr-1695	786	7	217	217	NUM
cblr-1695	786	8	see	see	VERB
cblr-1695	786	9	coffee	coffee	NOUN
cblr-1695	786	10	et	et	PROPN
cblr-1695	786	11	al	al	PROPN
cblr-1695	786	12	.	.	PROPN
cblr-1695	786	13	,	,	PUNCT
cblr-1695	786	14	supra	supra	PROPN
cblr-1695	786	15	note	note	NOUN
cblr-1695	786	16	75	75	NUM
cblr-1695	786	17	,	,	PUNCT
cblr-1695	786	18	at	at	ADP
cblr-1695	786	19	4–6	4–6	PROPN
cblr-1695	786	20	.	.	PROPN
cblr-1695	786	21	218	218	NUM
cblr-1695	786	22	see	see	VERB
cblr-1695	786	23	michaels	michael	NOUN
cblr-1695	786	24	,	,	PUNCT
cblr-1695	786	25	supra	supra	PROPN
cblr-1695	786	26	note	note	NOUN
cblr-1695	786	27	197	197	NUM
cblr-1695	786	28	.	.	X
cblr-1695	786	29	219	219	NUM
cblr-1695	786	30	see	see	VERB
cblr-1695	786	31	supra	supra	PROPN
cblr-1695	786	32	section	section	PROPN
cblr-1695	786	33	ii.b.2	ii.b.2	PROPN
cblr-1695	786	34	.	.	PUNCT
cblr-1695	787	1	no	no	INTJ
cblr-1695	787	2	.	.	PUNCT
cblr-1695	788	1	1:305	1:305	NUM
cblr-1695	788	2	]	]	X
cblr-1695	788	3	going	go	VERB
cblr-1695	788	4	public	public	ADJ
cblr-1695	788	5	secretly	secretly	ADV
cblr-1695	788	6	359	359	NUM
cblr-1695	788	7	even	even	ADV
cblr-1695	788	8	fund	fund	VERB
cblr-1695	788	9	these	these	DET
cblr-1695	788	10	additional	additional	ADJ
cblr-1695	788	11	costs	cost	NOUN
cblr-1695	788	12	through	through	ADP
cblr-1695	788	13	the	the	DET
cblr-1695	788	14	very	very	ADJ
cblr-1695	788	15	capital	capital	NOUN
cblr-1695	788	16	raised	raise	VERB
cblr-1695	788	17	by	by	ADP
cblr-1695	788	18	the	the	DET
cblr-1695	788	19	ipo	ipo	NOUN
cblr-1695	788	20	.	.	PUNCT
cblr-1695	789	1	by	by	ADP
cblr-1695	789	2	eliminating	eliminate	VERB
cblr-1695	789	3	major	major	ADJ
cblr-1695	789	4	costs	cost	NOUN
cblr-1695	789	5	associated	associate	VERB
cblr-1695	789	6	with	with	ADP
cblr-1695	789	7	going	go	VERB
cblr-1695	789	8	public	public	ADJ
cblr-1695	789	9	,	,	PUNCT
cblr-1695	789	10	at	at	ADP
cblr-1695	789	11	least	least	ADJ
cblr-1695	789	12	in	in	ADP
cblr-1695	789	13	the	the	DET
cblr-1695	789	14	early	early	ADJ
cblr-1695	789	15	years	year	NOUN
cblr-1695	789	16	,	,	PUNCT
cblr-1695	789	17	going	go	VERB
cblr-1695	789	18	public	public	ADJ
cblr-1695	789	19	can	can	AUX
cblr-1695	789	20	more	more	ADV
cblr-1695	789	21	effectively	effectively	ADV
cblr-1695	789	22	compete	compete	VERB
cblr-1695	789	23	with	with	ADP
cblr-1695	789	24	the	the	DET
cblr-1695	789	25	private	private	ADJ
cblr-1695	789	26	capital	capital	NOUN
cblr-1695	789	27	markets	market	NOUN
cblr-1695	789	28	,	,	PUNCT
cblr-1695	789	29	which	which	PRON
cblr-1695	789	30	do	do	AUX
cblr-1695	789	31	not	not	PART
cblr-1695	789	32	impose	impose	VERB
cblr-1695	789	33	such	such	ADJ
cblr-1695	789	34	costs	cost	NOUN
cblr-1695	789	35	due	due	ADP
cblr-1695	789	36	to	to	ADP
cblr-1695	789	37	the	the	DET
cblr-1695	789	38	lack	lack	NOUN
cblr-1695	789	39	of	of	ADP
cblr-1695	789	40	applicable	applicable	ADJ
cblr-1695	789	41	regulations	regulation	NOUN
cblr-1695	789	42	and	and	CCONJ
cblr-1695	789	43	compliance	compliance	NOUN
cblr-1695	789	44	standards	standard	NOUN
cblr-1695	789	45	.	.	PUNCT
cblr-1695	790	1	specifically	specifically	ADV
cblr-1695	790	2	,	,	PUNCT
cblr-1695	790	3	there	there	PRON
cblr-1695	790	4	are	be	VERB
cblr-1695	790	5	two	two	NUM
cblr-1695	790	6	proposals	proposal	NOUN
cblr-1695	790	7	the	the	DET
cblr-1695	790	8	sec	sec	PROPN
cblr-1695	790	9	,	,	PUNCT
cblr-1695	790	10	congress	congress	PROPN
cblr-1695	790	11	,	,	PUNCT
cblr-1695	790	12	and	and	CCONJ
cblr-1695	790	13	other	other	ADJ
cblr-1695	790	14	governmental	governmental	ADJ
cblr-1695	790	15	actors	actor	NOUN
cblr-1695	790	16	should	should	AUX
cblr-1695	790	17	explore	explore	VERB
cblr-1695	790	18	:	:	PUNCT
cblr-1695	790	19	(	(	PUNCT
cblr-1695	790	20	1	1	X
cblr-1695	790	21	)	)	PUNCT
cblr-1695	790	22	temporarily	temporarily	ADV
cblr-1695	790	23	exempt	exempt	ADJ
cblr-1695	790	24	companies	company	NOUN
cblr-1695	790	25	from	from	ADP
cblr-1695	790	26	portions	portion	NOUN
cblr-1695	790	27	of	of	ADP
cblr-1695	790	28	sox	sox	PROPN
cblr-1695	790	29	and	and	CCONJ
cblr-1695	790	30	other	other	ADJ
cblr-1695	790	31	regulations	regulation	NOUN
cblr-1695	790	32	applicable	applicable	ADJ
cblr-1695	790	33	to	to	ADP
cblr-1695	790	34	public	public	ADJ
cblr-1695	790	35	companies	company	NOUN
cblr-1695	790	36	;	;	PUNCT
cblr-1695	790	37	and	and	CCONJ
cblr-1695	790	38	(	(	PUNCT
cblr-1695	790	39	2	2	X
cblr-1695	790	40	)	)	PUNCT
cblr-1695	790	41	offer	offer	VERB
cblr-1695	790	42	tax	tax	NOUN
cblr-1695	790	43	credits	credit	NOUN
cblr-1695	790	44	to	to	ADP
cblr-1695	790	45	companies	company	NOUN
cblr-1695	790	46	for	for	ADP
cblr-1695	790	47	going	go	VERB
cblr-1695	790	48	public	public	ADJ
cblr-1695	790	49	.	.	PUNCT
cblr-1695	791	1	each	each	PRON
cblr-1695	791	2	of	of	ADP
cblr-1695	791	3	these	these	DET
cblr-1695	791	4	ideas	idea	NOUN
cblr-1695	791	5	is	be	AUX
cblr-1695	791	6	explored	explore	VERB
cblr-1695	791	7	more	more	ADV
cblr-1695	791	8	below	below	ADV
cblr-1695	791	9	.	.	PUNCT
cblr-1695	792	1	1	1	X
cblr-1695	792	2	.	.	X
cblr-1695	792	3	temporarily	temporarily	ADV
cblr-1695	792	4	exempt	exempt	ADJ
cblr-1695	792	5	companies	company	NOUN
cblr-1695	792	6	from	from	ADP
cblr-1695	792	7	portions	portion	NOUN
cblr-1695	792	8	of	of	ADP
cblr-1695	792	9	sox	sox	PROPN
cblr-1695	792	10	and	and	CCONJ
cblr-1695	792	11	other	other	ADJ
cblr-1695	792	12	regulations	regulation	NOUN
cblr-1695	792	13	applicable	applicable	ADJ
cblr-1695	792	14	to	to	ADP
cblr-1695	792	15	public	public	ADJ
cblr-1695	792	16	companies	company	NOUN
cblr-1695	792	17	in	in	ADP
cblr-1695	792	18	an	an	DET
cblr-1695	792	19	effort	effort	NOUN
cblr-1695	792	20	to	to	PART
cblr-1695	792	21	increase	increase	VERB
cblr-1695	792	22	ipos	ipos	NOUN
cblr-1695	792	23	,	,	PUNCT
cblr-1695	792	24	egcs	egcs	ADJ
cblr-1695	792	25	and	and	CCONJ
cblr-1695	792	26	non	non	ADJ
cblr-1695	792	27	-	-	ADJ
cblr-1695	792	28	egcs	egcs	ADJ
cblr-1695	792	29	should	should	AUX
cblr-1695	792	30	both	both	PRON
cblr-1695	792	31	be	be	AUX
cblr-1695	792	32	temporarily	temporarily	ADV
cblr-1695	792	33	exempted	exempt	VERB
cblr-1695	792	34	from	from	ADP
cblr-1695	792	35	portions	portion	NOUN
cblr-1695	792	36	of	of	ADP
cblr-1695	792	37	sox	sox	PROPN
cblr-1695	792	38	,	,	PUNCT
cblr-1695	792	39	doddfrank	doddfrank	NOUN
cblr-1695	792	40	,	,	PUNCT
cblr-1695	792	41	and	and	CCONJ
cblr-1695	792	42	other	other	ADJ
cblr-1695	792	43	public	public	ADJ
cblr-1695	792	44	company	company	NOUN
cblr-1695	792	45	compliance	compliance	NOUN
cblr-1695	792	46	statutes	statute	NOUN
cblr-1695	792	47	that	that	PRON
cblr-1695	792	48	are	be	AUX
cblr-1695	792	49	particularly	particularly	ADV
cblr-1695	792	50	onerous	onerous	ADJ
cblr-1695	792	51	and	and	CCONJ
cblr-1695	792	52	likely	likely	ADV
cblr-1695	792	53	serve	serve	VERB
cblr-1695	792	54	as	as	ADP
cblr-1695	792	55	deterrents	deterrent	NOUN
cblr-1695	792	56	to	to	ADP
cblr-1695	792	57	going	go	VERB
cblr-1695	792	58	public	public	ADJ
cblr-1695	792	59	.	.	PUNCT
cblr-1695	793	1	for	for	ADP
cblr-1695	793	2	example	example	NOUN
cblr-1695	793	3	,	,	PUNCT
cblr-1695	793	4	section	section	NOUN
cblr-1695	793	5	404(b	404(b	NOUN
cblr-1695	793	6	)	)	PUNCT
cblr-1695	793	7	of	of	ADP
cblr-1695	793	8	sox	sox	PROPN
cblr-1695	793	9	requires	require	VERB
cblr-1695	793	10	auditors	auditor	NOUN
cblr-1695	793	11	to	to	PART
cblr-1695	793	12	evaluate	evaluate	VERB
cblr-1695	793	13	public	public	ADJ
cblr-1695	793	14	companies	company	NOUN
cblr-1695	793	15	’	'	PUNCT
cblr-1695	793	16	internal	internal	ADJ
cblr-1695	793	17	controls	control	NOUN
cblr-1695	793	18	,	,	PUNCT
cblr-1695	793	19	the	the	DET
cblr-1695	793	20	policies	policy	NOUN
cblr-1695	793	21	and	and	CCONJ
cblr-1695	793	22	procedures	procedure	NOUN
cblr-1695	793	23	intended	intend	VERB
cblr-1695	793	24	to	to	PART
cblr-1695	793	25	prevent	prevent	VERB
cblr-1695	793	26	errors	error	NOUN
cblr-1695	793	27	or	or	CCONJ
cblr-1695	793	28	fraud	fraud	NOUN
cblr-1695	793	29	with	with	ADP
cblr-1695	793	30	regard	regard	NOUN
cblr-1695	793	31	to	to	ADP
cblr-1695	793	32	financial	financial	ADJ
cblr-1695	793	33	statements.220	statements.220	NOUN
cblr-1695	793	34	over	over	ADP
cblr-1695	793	35	the	the	DET
cblr-1695	793	36	years	year	NOUN
cblr-1695	793	37	,	,	PUNCT
cblr-1695	793	38	certain	certain	ADJ
cblr-1695	793	39	companies	company	NOUN
cblr-1695	793	40	have	have	AUX
cblr-1695	793	41	been	be	AUX
cblr-1695	793	42	exempted	exempt	VERB
cblr-1695	793	43	from	from	ADP
cblr-1695	793	44	this	this	DET
cblr-1695	793	45	requirement	requirement	NOUN
cblr-1695	793	46	—	—	PUNCT
cblr-1695	793	47	dodd	dodd	PROPN
cblr-1695	793	48	-	-	PUNCT
cblr-1695	793	49	frank	frank	PROPN
cblr-1695	793	50	exempted	exempt	VERB
cblr-1695	793	51	very	very	ADV
cblr-1695	793	52	small	small	ADJ
cblr-1695	793	53	companies	company	NOUN
cblr-1695	793	54	and	and	CCONJ
cblr-1695	793	55	then	then	ADV
cblr-1695	793	56	the	the	DET
cblr-1695	793	57	jobs	job	NOUN
cblr-1695	793	58	act	act	VERB
cblr-1695	793	59	exempted	exempt	VERB
cblr-1695	793	60	egcs.221	egcs.221	PROPN
cblr-1695	793	61	non	non	ADJ
cblr-1695	793	62	-	-	ADJ
cblr-1695	793	63	egcs	egcs	ADJ
cblr-1695	793	64	who	who	PRON
cblr-1695	793	65	choose	choose	VERB
cblr-1695	793	66	to	to	PART
cblr-1695	793	67	go	go	VERB
cblr-1695	793	68	public	public	ADJ
cblr-1695	793	69	should	should	AUX
cblr-1695	793	70	similarly	similarly	ADV
cblr-1695	793	71	be	be	AUX
cblr-1695	793	72	exempt	exempt	ADJ
cblr-1695	793	73	from	from	ADP
cblr-1695	793	74	burdensome	burdensome	ADJ
cblr-1695	793	75	requirements	requirement	NOUN
cblr-1695	793	76	like	like	ADP
cblr-1695	793	77	this	this	PRON
cblr-1695	793	78	for	for	ADP
cblr-1695	793	79	a	a	DET
cblr-1695	793	80	limited	limited	ADJ
cblr-1695	793	81	period	period	NOUN
cblr-1695	793	82	of	of	ADP
cblr-1695	793	83	time	time	NOUN
cblr-1695	793	84	as	as	ADV
cblr-1695	793	85	well	well	ADV
cblr-1695	793	86	,	,	PUNCT
cblr-1695	793	87	such	such	ADJ
cblr-1695	793	88	as	as	ADP
cblr-1695	793	89	five	five	NUM
cblr-1695	793	90	years.222	years.222	NUM
cblr-1695	793	91	220	220	NUM
cblr-1695	793	92	sarbanes	sarbane	NOUN
cblr-1695	793	93	-	-	PUNCT
cblr-1695	793	94	oxley	oxley	ADJ
cblr-1695	793	95	act	act	NOUN
cblr-1695	793	96	of	of	ADP
cblr-1695	793	97	2002	2002	NUM
cblr-1695	793	98	§	§	PROPN
cblr-1695	793	99	404(b	404(b	NOUN
cblr-1695	793	100	)	)	PUNCT
cblr-1695	793	101	,	,	PUNCT
cblr-1695	793	102	15	15	NUM
cblr-1695	793	103	u.s.c	u.s.c	ADJ
cblr-1695	793	104	.	.	PUNCT
cblr-1695	794	1	§	§	PROPN
cblr-1695	794	2	7262(b	7262(b	NUM
cblr-1695	794	3	)	)	PUNCT
cblr-1695	794	4	(	(	PUNCT
cblr-1695	794	5	2012	2012	NUM
cblr-1695	794	6	)	)	PUNCT
cblr-1695	795	1	;	;	PUNCT
cblr-1695	795	2	see	see	VERB
cblr-1695	795	3	also	also	ADV
cblr-1695	795	4	michael	michael	PROPN
cblr-1695	795	5	rapoport	rapoport	PROPN
cblr-1695	795	6	,	,	PUNCT
cblr-1695	795	7	why	why	SCONJ
cblr-1695	795	8	stop	stop	VERB
cblr-1695	795	9	at	at	ADP
cblr-1695	795	10	dodd	dodd	PROPN
cblr-1695	795	11	frank	frank	PROPN
cblr-1695	795	12	?	?	PUNCT
cblr-1695	796	1	some	some	PRON
cblr-1695	796	2	want	want	VERB
cblr-1695	796	3	trump	trump	VERB
cblr-1695	796	4	’s	’s	PART
cblr-1695	796	5	regulatory	regulatory	ADJ
cblr-1695	796	6	overhaul	overhaul	NOUN
cblr-1695	796	7	to	to	PART
cblr-1695	796	8	go	go	VERB
cblr-1695	796	9	further	far	ADV
cblr-1695	796	10	,	,	PUNCT
cblr-1695	796	11	wall	wall	PROPN
cblr-1695	796	12	st	st	PROPN
cblr-1695	796	13	.	.	PROPN
cblr-1695	796	14	j.	j.	PROPN
cblr-1695	796	15	(	(	PUNCT
cblr-1695	796	16	feb	feb	PROPN
cblr-1695	796	17	.	.	PROPN
cblr-1695	796	18	14	14	NUM
cblr-1695	796	19	,	,	PUNCT
cblr-1695	796	20	2017	2017	NUM
cblr-1695	796	21	)	)	PUNCT
cblr-1695	796	22	,	,	PUNCT
cblr-1695	796	23	https://www.wsj.com/articles/trump-gives-impetus-to-push-to-revampsarbanes-oxley-auditor-rule-1487070001	https://www.wsj.com/articles/trump-gives-impetus-to-push-to-revampsarbanes-oxley-auditor-rule-1487070001	X
cblr-1695	796	24	(	(	PUNCT
cblr-1695	796	25	on	on	ADP
cblr-1695	796	26	file	file	NOUN
cblr-1695	796	27	with	with	ADP
cblr-1695	796	28	the	the	DET
cblr-1695	796	29	columbia	columbia	PROPN
cblr-1695	796	30	business	business	PROPN
cblr-1695	796	31	law	law	PROPN
cblr-1695	796	32	review	review	PROPN
cblr-1695	796	33	)	)	PUNCT
cblr-1695	796	34	.	.	PUNCT
cblr-1695	797	1	221	221	NUM
cblr-1695	797	2	see	see	NOUN
cblr-1695	797	3	rapoport	rapoport	NOUN
cblr-1695	797	4	,	,	PUNCT
cblr-1695	797	5	supra	supra	PROPN
cblr-1695	797	6	note	note	NOUN
cblr-1695	797	7	220	220	NUM
cblr-1695	797	8	.	.	NOUN
cblr-1695	797	9	222	222	NUM
cblr-1695	797	10	this	this	DET
cblr-1695	797	11	proposed	propose	VERB
cblr-1695	797	12	length	length	NOUN
cblr-1695	797	13	mirrors	mirror	NOUN
cblr-1695	797	14	the	the	DET
cblr-1695	797	15	length	length	NOUN
cblr-1695	797	16	of	of	ADP
cblr-1695	797	17	time	time	NOUN
cblr-1695	797	18	that	that	PRON
cblr-1695	797	19	egcs	egcs	VERB
cblr-1695	797	20	,	,	PUNCT
cblr-1695	797	21	once	once	ADV
cblr-1695	797	22	public	public	ADJ
cblr-1695	797	23	,	,	PUNCT
cblr-1695	797	24	are	be	AUX
cblr-1695	797	25	able	able	ADJ
cblr-1695	797	26	to	to	PART
cblr-1695	797	27	continue	continue	VERB
cblr-1695	797	28	to	to	PART
cblr-1695	797	29	enjoy	enjoy	VERB
cblr-1695	797	30	the	the	DET
cblr-1695	797	31	benefits	benefit	NOUN
cblr-1695	797	32	granted	grant	VERB
cblr-1695	797	33	by	by	ADP
cblr-1695	797	34	egc	egc	ADJ
cblr-1695	797	35	status	status	NOUN
cblr-1695	797	36	.	.	PUNCT
cblr-1695	798	1	see	see	VERB
cblr-1695	798	2	360	360	NUM
cblr-1695	798	3	columbia	columbia	PROPN
cblr-1695	798	4	business	business	NOUN
cblr-1695	798	5	law	law	PROPN
cblr-1695	798	6	review	review	NOUN
cblr-1695	799	1	[	[	X
cblr-1695	799	2	vol	vol	NOUN
cblr-1695	799	3	.	.	NOUN
cblr-1695	799	4	2019	2019	NUM
cblr-1695	799	5	increased	increase	VERB
cblr-1695	799	6	regulations	regulation	NOUN
cblr-1695	799	7	and	and	CCONJ
cblr-1695	799	8	the	the	DET
cblr-1695	799	9	cost	cost	NOUN
cblr-1695	799	10	of	of	ADP
cblr-1695	799	11	such	such	ADJ
cblr-1695	799	12	compliance	compliance	NOUN
cblr-1695	799	13	are	be	AUX
cblr-1695	799	14	consistently	consistently	ADV
cblr-1695	799	15	cited	cite	VERB
cblr-1695	799	16	as	as	ADP
cblr-1695	799	17	deterrents	deterrent	NOUN
cblr-1695	799	18	to	to	ADP
cblr-1695	799	19	going	go	VERB
cblr-1695	799	20	public.223	public.223	NOUN
cblr-1695	799	21	exempting	exempt	VERB
cblr-1695	799	22	new	new	ADJ
cblr-1695	799	23	public	public	ADJ
cblr-1695	799	24	companies	company	NOUN
cblr-1695	799	25	from	from	ADP
cblr-1695	799	26	such	such	ADJ
cblr-1695	799	27	requirements	requirement	NOUN
cblr-1695	799	28	would	would	AUX
cblr-1695	799	29	likely	likely	ADV
cblr-1695	799	30	make	make	VERB
cblr-1695	799	31	public	public	ADJ
cblr-1695	799	32	company	company	NOUN
cblr-1695	799	33	status	status	VERB
cblr-1695	799	34	much	much	ADV
cblr-1695	799	35	more	more	ADV
cblr-1695	799	36	appealing	appealing	ADJ
cblr-1695	799	37	.	.	PUNCT
cblr-1695	800	1	such	such	DET
cblr-1695	800	2	a	a	DET
cblr-1695	800	3	policy	policy	NOUN
cblr-1695	800	4	would	would	AUX
cblr-1695	800	5	remove	remove	VERB
cblr-1695	800	6	substantial	substantial	ADJ
cblr-1695	800	7	compliance	compliance	NOUN
cblr-1695	800	8	costs	cost	NOUN
cblr-1695	800	9	from	from	ADP
cblr-1695	800	10	a	a	DET
cblr-1695	800	11	firm	firm	NOUN
cblr-1695	800	12	’s	’s	PART
cblr-1695	800	13	initial	initial	ADJ
cblr-1695	800	14	years	year	NOUN
cblr-1695	800	15	as	as	ADP
cblr-1695	800	16	a	a	DET
cblr-1695	800	17	public	public	ADJ
cblr-1695	800	18	company	company	NOUN
cblr-1695	800	19	and	and	CCONJ
cblr-1695	800	20	allow	allow	VERB
cblr-1695	800	21	for	for	ADP
cblr-1695	800	22	an	an	DET
cblr-1695	800	23	adjustment	adjustment	NOUN
cblr-1695	800	24	period	period	NOUN
cblr-1695	800	25	before	before	ADP
cblr-1695	800	26	subjecting	subject	VERB
cblr-1695	800	27	the	the	DET
cblr-1695	800	28	company	company	NOUN
cblr-1695	800	29	to	to	ADP
cblr-1695	800	30	new	new	ADJ
cblr-1695	800	31	,	,	PUNCT
cblr-1695	800	32	stringent	stringent	ADJ
cblr-1695	800	33	oversight	oversight	NOUN
cblr-1695	800	34	requirements	requirement	NOUN
cblr-1695	800	35	.	.	PUNCT
cblr-1695	801	1	furthermore	furthermore	ADV
cblr-1695	801	2	,	,	PUNCT
cblr-1695	801	3	rather	rather	ADV
cblr-1695	801	4	than	than	ADP
cblr-1695	801	5	risk	risk	NOUN
cblr-1695	801	6	burdening	burden	VERB
cblr-1695	801	7	a	a	DET
cblr-1695	801	8	new	new	ADJ
cblr-1695	801	9	public	public	ADJ
cblr-1695	801	10	company	company	NOUN
cblr-1695	801	11	with	with	ADP
cblr-1695	801	12	a	a	DET
cblr-1695	801	13	massive	massive	ADJ
cblr-1695	801	14	amount	amount	NOUN
cblr-1695	801	15	of	of	ADP
cblr-1695	801	16	new	new	ADJ
cblr-1695	801	17	expenses	expense	NOUN
cblr-1695	801	18	,	,	PUNCT
cblr-1695	801	19	such	such	DET
cblr-1695	801	20	a	a	DET
cblr-1695	801	21	policy	policy	NOUN
cblr-1695	801	22	would	would	AUX
cblr-1695	801	23	allow	allow	VERB
cblr-1695	801	24	a	a	DET
cblr-1695	801	25	company	company	NOUN
cblr-1695	801	26	to	to	PART
cblr-1695	801	27	use	use	VERB
cblr-1695	801	28	the	the	DET
cblr-1695	801	29	capital	capital	NOUN
cblr-1695	801	30	raised	raise	VERB
cblr-1695	801	31	by	by	ADP
cblr-1695	801	32	the	the	DET
cblr-1695	801	33	ipo	ipo	PROPN
cblr-1695	801	34	itself	itself	PRON
cblr-1695	801	35	—	—	PUNCT
cblr-1695	801	36	and	and	CCONJ
cblr-1695	801	37	,	,	PUNCT
cblr-1695	801	38	hopefully	hopefully	ADV
cblr-1695	801	39	,	,	PUNCT
cblr-1695	801	40	the	the	DET
cblr-1695	801	41	growth	growth	NOUN
cblr-1695	801	42	that	that	PRON
cblr-1695	801	43	that	that	DET
cblr-1695	801	44	capital	capital	NOUN
cblr-1695	801	45	provides	provide	VERB
cblr-1695	801	46	—	—	PUNCT
cblr-1695	801	47	to	to	PART
cblr-1695	801	48	fund	fund	VERB
cblr-1695	801	49	these	these	DET
cblr-1695	801	50	new	new	ADJ
cblr-1695	801	51	compliance	compliance	NOUN
cblr-1695	801	52	and	and	CCONJ
cblr-1695	801	53	regulatory	regulatory	ADJ
cblr-1695	801	54	expenses	expense	NOUN
cblr-1695	801	55	in	in	ADP
cblr-1695	801	56	the	the	DET
cblr-1695	801	57	future	future	NOUN
cblr-1695	801	58	.	.	PUNCT
cblr-1695	802	1	nonetheless	nonetheless	ADV
cblr-1695	802	2	,	,	PUNCT
cblr-1695	802	3	removing	remove	VERB
cblr-1695	802	4	such	such	ADJ
cblr-1695	802	5	regulations	regulation	NOUN
cblr-1695	802	6	could	could	AUX
cblr-1695	802	7	cultivate	cultivate	VERB
cblr-1695	802	8	fertile	fertile	ADJ
cblr-1695	802	9	ground	ground	NOUN
cblr-1695	802	10	for	for	ADP
cblr-1695	802	11	corporate	corporate	ADJ
cblr-1695	802	12	failures	failure	NOUN
cblr-1695	802	13	akin	akin	ADJ
cblr-1695	802	14	to	to	ADP
cblr-1695	802	15	those	those	PRON
cblr-1695	802	16	in	in	ADP
cblr-1695	802	17	the	the	DET
cblr-1695	802	18	presox	presox	ADJ
cblr-1695	802	19	era	era	NOUN
cblr-1695	802	20	,	,	PUNCT
cblr-1695	802	21	such	such	ADJ
cblr-1695	802	22	as	as	ADP
cblr-1695	802	23	the	the	DET
cblr-1695	802	24	enron	enron	PROPN
cblr-1695	802	25	fraud.224	fraud.224	PROPN
cblr-1695	802	26	in	in	ADP
cblr-1695	802	27	fact	fact	NOUN
cblr-1695	802	28	,	,	PUNCT
cblr-1695	802	29	this	this	DET
cblr-1695	802	30	proposal	proposal	NOUN
cblr-1695	802	31	may	may	AUX
cblr-1695	802	32	seem	seem	VERB
cblr-1695	802	33	to	to	PART
cblr-1695	802	34	contradict	contradict	VERB
cblr-1695	802	35	this	this	DET
cblr-1695	802	36	note	note	NOUN
cblr-1695	802	37	’s	’s	NOUN
cblr-1695	802	38	general	general	ADJ
cblr-1695	802	39	call	call	NOUN
cblr-1695	802	40	for	for	ADP
cblr-1695	802	41	greater	great	ADJ
cblr-1695	802	42	disclosure.225	disclosure.225	CCONJ
cblr-1695	802	43	however	however	ADV
cblr-1695	802	44	,	,	PUNCT
cblr-1695	802	45	this	this	PRON
cblr-1695	802	46	should	should	AUX
cblr-1695	802	47	be	be	AUX
cblr-1695	802	48	of	of	ADP
cblr-1695	802	49	little	little	ADJ
cblr-1695	802	50	concern	concern	NOUN
cblr-1695	802	51	for	for	ADP
cblr-1695	802	52	two	two	NUM
cblr-1695	802	53	reasons	reason	NOUN
cblr-1695	802	54	.	.	PUNCT
cblr-1695	803	1	first	first	ADV
cblr-1695	803	2	,	,	PUNCT
cblr-1695	803	3	because	because	SCONJ
cblr-1695	803	4	the	the	DET
cblr-1695	803	5	regulations	regulation	NOUN
cblr-1695	803	6	would	would	AUX
cblr-1695	803	7	eventually	eventually	ADV
cblr-1695	803	8	apply	apply	VERB
cblr-1695	803	9	to	to	ADP
cblr-1695	803	10	new	new	ADJ
cblr-1695	803	11	public	public	ADJ
cblr-1695	803	12	companies	company	NOUN
cblr-1695	803	13	,	,	PUNCT
cblr-1695	803	14	it	it	PRON
cblr-1695	803	15	is	be	AUX
cblr-1695	803	16	unlikely	unlikely	ADJ
cblr-1695	803	17	that	that	SCONJ
cblr-1695	803	18	massive	massive	ADJ
cblr-1695	803	19	problems	problem	NOUN
cblr-1695	803	20	would	would	AUX
cblr-1695	803	21	occur	occur	VERB
cblr-1695	803	22	during	during	ADP
cblr-1695	803	23	the	the	DET
cblr-1695	803	24	brief	brief	ADJ
cblr-1695	803	25	exemption	exemption	NOUN
cblr-1695	803	26	period	period	NOUN
cblr-1695	803	27	.	.	PUNCT
cblr-1695	804	1	second	second	ADJ
cblr-1695	804	2	,	,	PUNCT
cblr-1695	804	3	because	because	SCONJ
cblr-1695	804	4	investors	investor	NOUN
cblr-1695	804	5	would	would	AUX
cblr-1695	804	6	be	be	AUX
cblr-1695	804	7	on	on	ADP
cblr-1695	804	8	notice	notice	NOUN
cblr-1695	804	9	of	of	ADP
cblr-1695	804	10	this	this	DET
cblr-1695	804	11	policy	policy	NOUN
cblr-1695	804	12	change	change	NOUN
cblr-1695	804	13	,	,	PUNCT
cblr-1695	804	14	it	it	PRON
cblr-1695	804	15	could	could	AUX
cblr-1695	804	16	actually	actually	ADV
cblr-1695	804	17	lead	lead	VERB
cblr-1695	804	18	to	to	ADP
cblr-1695	804	19	improved	improved	ADJ
cblr-1695	804	20	valuation	valuation	NOUN
cblr-1695	804	21	of	of	ADP
cblr-1695	804	22	stock	stock	NOUN
cblr-1695	804	23	.	.	PUNCT
cblr-1695	805	1	simply	simply	ADV
cblr-1695	805	2	put	put	VERB
cblr-1695	805	3	,	,	PUNCT
cblr-1695	805	4	investors	investor	NOUN
cblr-1695	805	5	comfortable	comfortable	ADJ
cblr-1695	805	6	with	with	ADP
cblr-1695	805	7	the	the	DET
cblr-1695	805	8	added	add	VERB
cblr-1695	805	9	risk	risk	NOUN
cblr-1695	805	10	of	of	ADP
cblr-1695	805	11	regulation	regulation	NOUN
cblr-1695	805	12	exemptions	exemption	NOUN
cblr-1695	805	13	could	could	AUX
cblr-1695	805	14	invest	invest	VERB
cblr-1695	805	15	in	in	ADP
cblr-1695	805	16	such	such	ADJ
cblr-1695	805	17	companies	company	NOUN
cblr-1695	805	18	and	and	CCONJ
cblr-1695	805	19	hope	hope	VERB
cblr-1695	805	20	to	to	PART
cblr-1695	805	21	earn	earn	VERB
cblr-1695	805	22	a	a	DET
cblr-1695	805	23	high	high	ADJ
cblr-1695	805	24	return	return	NOUN
cblr-1695	805	25	,	,	PUNCT
cblr-1695	805	26	as	as	SCONJ
cblr-1695	805	27	often	often	ADV
cblr-1695	805	28	happens	happen	VERB
cblr-1695	805	29	immediately	immediately	ADV
cblr-1695	805	30	supra	supra	ADJ
cblr-1695	805	31	note	note	NOUN
cblr-1695	805	32	79	79	NUM
cblr-1695	805	33	and	and	CCONJ
cblr-1695	805	34	accompanying	accompany	VERB
cblr-1695	805	35	text	text	NOUN
cblr-1695	805	36	.	.	PUNCT
cblr-1695	806	1	alternatively	alternatively	ADV
cblr-1695	806	2	,	,	PUNCT
cblr-1695	806	3	non	non	ADJ
cblr-1695	806	4	-	-	ADJ
cblr-1695	806	5	egcs	egcs	ADJ
cblr-1695	806	6	could	could	AUX
cblr-1695	806	7	even	even	ADV
cblr-1695	806	8	be	be	AUX
cblr-1695	806	9	exempted	exempt	VERB
cblr-1695	806	10	from	from	ADP
cblr-1695	806	11	section	section	NOUN
cblr-1695	806	12	404(b	404(b	NOUN
cblr-1695	806	13	)	)	PUNCT
cblr-1695	806	14	and	and	CCONJ
cblr-1695	806	15	other	other	ADJ
cblr-1695	806	16	burdensome	burdensome	ADJ
cblr-1695	806	17	compliance	compliance	NOUN
cblr-1695	806	18	statutes	statute	NOUN
cblr-1695	806	19	for	for	ADP
cblr-1695	806	20	less	less	ADJ
cblr-1695	806	21	time	time	NOUN
cblr-1695	806	22	if	if	SCONJ
cblr-1695	806	23	the	the	DET
cblr-1695	806	24	sec	sec	PROPN
cblr-1695	806	25	determined	determine	VERB
cblr-1695	806	26	that	that	SCONJ
cblr-1695	806	27	the	the	DET
cblr-1695	806	28	cost	cost	NOUN
cblr-1695	806	29	savings	saving	NOUN
cblr-1695	806	30	from	from	ADP
cblr-1695	806	31	a	a	DET
cblr-1695	806	32	shorter	short	ADJ
cblr-1695	806	33	exemption	exemption	NOUN
cblr-1695	806	34	period	period	NOUN
cblr-1695	806	35	would	would	AUX
cblr-1695	806	36	still	still	ADV
cblr-1695	806	37	properly	properly	ADV
cblr-1695	806	38	induce	induce	VERB
cblr-1695	806	39	non	non	ADJ
cblr-1695	806	40	-	-	ADJ
cblr-1695	806	41	egcs	egcs	ADJ
cblr-1695	806	42	to	to	PART
cblr-1695	806	43	go	go	VERB
cblr-1695	806	44	public	public	ADJ
cblr-1695	806	45	.	.	PUNCT
cblr-1695	807	1	223	223	NUM
cblr-1695	807	2	see	see	VERB
cblr-1695	807	3	supra	supra	PROPN
cblr-1695	807	4	section	section	PROPN
cblr-1695	807	5	ii.b.2	ii.b.2	PROPN
cblr-1695	807	6	.	.	PUNCT
cblr-1695	808	1	224	224	NUM
cblr-1695	808	2	see	see	VERB
cblr-1695	808	3	generally	generally	ADV
cblr-1695	808	4	bethany	bethany	PROPN
cblr-1695	808	5	mclean	mclean	PROPN
cblr-1695	808	6	&	&	CCONJ
cblr-1695	808	7	peter	peter	PROPN
cblr-1695	808	8	elkind	elkind	PROPN
cblr-1695	808	9	,	,	PUNCT
cblr-1695	808	10	the	the	DET
cblr-1695	808	11	smartest	smart	ADJ
cblr-1695	808	12	guys	guy	NOUN
cblr-1695	808	13	in	in	ADP
cblr-1695	808	14	the	the	DET
cblr-1695	808	15	room	room	NOUN
cblr-1695	808	16	:	:	PUNCT
cblr-1695	808	17	the	the	DET
cblr-1695	808	18	amazing	amazing	ADJ
cblr-1695	808	19	rise	rise	NOUN
cblr-1695	808	20	and	and	CCONJ
cblr-1695	808	21	scandalous	scandalous	ADJ
cblr-1695	808	22	fall	fall	NOUN
cblr-1695	808	23	of	of	ADP
cblr-1695	808	24	enron	enron	PROPN
cblr-1695	808	25	(	(	PUNCT
cblr-1695	808	26	2003	2003	NUM
cblr-1695	808	27	)	)	PUNCT
cblr-1695	808	28	.	.	PUNCT
cblr-1695	809	1	225	225	NUM
cblr-1695	809	2	see	see	VERB
cblr-1695	809	3	infra	infra	NOUN
cblr-1695	809	4	section	section	NOUN
cblr-1695	809	5	v.c	v.c	PROPN
cblr-1695	809	6	.	.	PROPN
cblr-1695	810	1	in	in	ADP
cblr-1695	810	2	addition	addition	NOUN
cblr-1695	810	3	,	,	PUNCT
cblr-1695	810	4	at	at	ADV
cblr-1695	810	5	least	least	ADV
cblr-1695	810	6	one	one	NUM
cblr-1695	810	7	other	other	ADJ
cblr-1695	810	8	study	study	NOUN
cblr-1695	810	9	has	have	AUX
cblr-1695	810	10	found	find	VERB
cblr-1695	810	11	that	that	SCONJ
cblr-1695	810	12	the	the	DET
cblr-1695	810	13	ability	ability	NOUN
cblr-1695	810	14	for	for	ADP
cblr-1695	810	15	egc	egc	PROPN
cblr-1695	810	16	’s	’s	PART
cblr-1695	810	17	to	to	PART
cblr-1695	810	18	avoid	avoid	VERB
cblr-1695	810	19	the	the	DET
cblr-1695	810	20	requirements	requirement	NOUN
cblr-1695	810	21	of	of	ADP
cblr-1695	810	22	section	section	NOUN
cblr-1695	810	23	404	404	NUM
cblr-1695	810	24	of	of	ADP
cblr-1695	810	25	sox	sox	PROPN
cblr-1695	810	26	may	may	AUX
cblr-1695	810	27	negatively	negatively	ADV
cblr-1695	810	28	affect	affect	VERB
cblr-1695	810	29	markets	market	NOUN
cblr-1695	810	30	.	.	PUNCT
cblr-1695	811	1	see	see	VERB
cblr-1695	811	2	honigsberg	honigsberg	PROPN
cblr-1695	811	3	et	et	PROPN
cblr-1695	811	4	al	al	PROPN
cblr-1695	811	5	.	.	PROPN
cblr-1695	811	6	,	,	PUNCT
cblr-1695	811	7	supra	supra	PROPN
cblr-1695	811	8	note	note	NOUN
cblr-1695	811	9	115	115	NUM
cblr-1695	811	10	,	,	PUNCT
cblr-1695	811	11	at	at	ADP
cblr-1695	811	12	309	309	NUM
cblr-1695	811	13	,	,	PUNCT
cblr-1695	811	14	313	313	NUM
cblr-1695	811	15	.	.	PUNCT
cblr-1695	812	1	no	no	INTJ
cblr-1695	812	2	.	.	PUNCT
cblr-1695	813	1	1:305	1:305	NUM
cblr-1695	813	2	]	]	X
cblr-1695	813	3	going	go	VERB
cblr-1695	813	4	public	public	ADJ
cblr-1695	813	5	secretly	secretly	ADV
cblr-1695	813	6	361	361	NUM
cblr-1695	813	7	after	after	ADP
cblr-1695	813	8	an	an	DET
cblr-1695	813	9	ipo.226	ipo.226	NOUN
cblr-1695	813	10	investors	investor	NOUN
cblr-1695	813	11	that	that	PRON
cblr-1695	813	12	do	do	AUX
cblr-1695	813	13	not	not	PART
cblr-1695	813	14	want	want	VERB
cblr-1695	813	15	to	to	PART
cblr-1695	813	16	take	take	VERB
cblr-1695	813	17	such	such	DET
cblr-1695	813	18	a	a	DET
cblr-1695	813	19	risk	risk	NOUN
cblr-1695	813	20	could	could	AUX
cblr-1695	813	21	instead	instead	ADV
cblr-1695	813	22	decide	decide	VERB
cblr-1695	813	23	to	to	PART
cblr-1695	813	24	only	only	ADV
cblr-1695	813	25	invest	invest	VERB
cblr-1695	813	26	in	in	ADP
cblr-1695	813	27	such	such	ADJ
cblr-1695	813	28	companies	company	NOUN
cblr-1695	813	29	after	after	SCONJ
cblr-1695	813	30	the	the	DET
cblr-1695	813	31	regulatory	regulatory	ADJ
cblr-1695	813	32	exemption	exemption	NOUN
cblr-1695	813	33	period	period	NOUN
cblr-1695	813	34	ends	end	VERB
cblr-1695	813	35	.	.	PUNCT
cblr-1695	814	1	if	if	SCONJ
cblr-1695	814	2	the	the	DET
cblr-1695	814	3	number	number	NOUN
cblr-1695	814	4	of	of	ADP
cblr-1695	814	5	riskaverse	riskaverse	NOUN
cblr-1695	814	6	investors	investor	NOUN
cblr-1695	814	7	is	be	AUX
cblr-1695	814	8	too	too	ADV
cblr-1695	814	9	significant	significant	ADJ
cblr-1695	814	10	,	,	PUNCT
cblr-1695	814	11	this	this	PRON
cblr-1695	814	12	could	could	AUX
cblr-1695	814	13	backfire	backfire	VERB
cblr-1695	814	14	by	by	ADP
cblr-1695	814	15	greatly	greatly	ADV
cblr-1695	814	16	reducing	reduce	VERB
cblr-1695	814	17	the	the	DET
cblr-1695	814	18	demand	demand	NOUN
cblr-1695	814	19	for	for	ADP
cblr-1695	814	20	an	an	DET
cblr-1695	814	21	issuer	issuer	NOUN
cblr-1695	814	22	’s	’s	PART
cblr-1695	814	23	stock	stock	NOUN
cblr-1695	814	24	,	,	PUNCT
cblr-1695	814	25	thus	thus	ADV
cblr-1695	814	26	indirectly	indirectly	ADV
cblr-1695	814	27	making	make	VERB
cblr-1695	814	28	the	the	DET
cblr-1695	814	29	public	public	ADJ
cblr-1695	814	30	markets	market	NOUN
cblr-1695	814	31	less	less	ADV
cblr-1695	814	32	attractive	attractive	ADJ
cblr-1695	814	33	.	.	PUNCT
cblr-1695	815	1	however	however	ADV
cblr-1695	815	2	,	,	PUNCT
cblr-1695	815	3	companies	company	NOUN
cblr-1695	815	4	could	could	AUX
cblr-1695	815	5	always	always	ADV
cblr-1695	815	6	decide	decide	VERB
cblr-1695	815	7	to	to	PART
cblr-1695	815	8	not	not	PART
cblr-1695	815	9	take	take	VERB
cblr-1695	815	10	advantage	advantage	NOUN
cblr-1695	815	11	of	of	ADP
cblr-1695	815	12	such	such	DET
cblr-1695	815	13	an	an	DET
cblr-1695	815	14	exemption	exemption	NOUN
cblr-1695	815	15	period	period	NOUN
cblr-1695	815	16	and	and	CCONJ
cblr-1695	815	17	instead	instead	ADV
cblr-1695	815	18	voluntarily	voluntarily	ADV
cblr-1695	815	19	subject	subject	VERB
cblr-1695	815	20	themselves	themselves	PRON
cblr-1695	815	21	to	to	ADP
cblr-1695	815	22	such	such	ADJ
cblr-1695	815	23	requirements	requirement	NOUN
cblr-1695	815	24	.	.	PUNCT
cblr-1695	816	1	it	it	PRON
cblr-1695	816	2	is	be	AUX
cblr-1695	816	3	common	common	ADJ
cblr-1695	816	4	for	for	ADP
cblr-1695	816	5	firms	firm	NOUN
cblr-1695	816	6	to	to	ADP
cblr-1695	816	7	forego	forego	ADJ
cblr-1695	816	8	benefits	benefit	NOUN
cblr-1695	816	9	based	base	VERB
cblr-1695	816	10	on	on	ADP
cblr-1695	816	11	market	market	NOUN
cblr-1695	816	12	demand	demand	NOUN
cblr-1695	816	13	.	.	PUNCT
cblr-1695	817	1	for	for	ADP
cblr-1695	817	2	example	example	NOUN
cblr-1695	817	3	,	,	PUNCT
cblr-1695	817	4	although	although	SCONJ
cblr-1695	817	5	egcs	egcs	PROPN
cblr-1695	817	6	are	be	AUX
cblr-1695	817	7	only	only	ADV
cblr-1695	817	8	required	require	VERB
cblr-1695	817	9	by	by	ADP
cblr-1695	817	10	law	law	NOUN
cblr-1695	817	11	to	to	PART
cblr-1695	817	12	provide	provide	VERB
cblr-1695	817	13	two	two	NUM
cblr-1695	817	14	years	year	NOUN
cblr-1695	817	15	of	of	ADP
cblr-1695	817	16	audited	audit	VERB
cblr-1695	817	17	financial	financial	ADJ
cblr-1695	817	18	statements	statement	NOUN
cblr-1695	817	19	in	in	ADP
cblr-1695	817	20	their	their	PRON
cblr-1695	817	21	form	form	NOUN
cblr-1695	817	22	s-1s	s-1s	ADJ
cblr-1695	817	23	,	,	PUNCT
cblr-1695	817	24	most	most	ADJ
cblr-1695	817	25	provide	provide	VERB
cblr-1695	817	26	more	more	ADV
cblr-1695	817	27	due	due	ADJ
cblr-1695	817	28	to	to	ADP
cblr-1695	817	29	market	market	NOUN
cblr-1695	817	30	demands.227	demands.227	VERB
cblr-1695	817	31	thus	thus	ADV
cblr-1695	817	32	,	,	PUNCT
cblr-1695	817	33	the	the	DET
cblr-1695	817	34	worst	bad	ADJ
cblr-1695	817	35	-	-	PUNCT
cblr-1695	817	36	case	case	NOUN
cblr-1695	817	37	scenario	scenario	NOUN
cblr-1695	817	38	may	may	AUX
cblr-1695	817	39	involve	involve	VERB
cblr-1695	817	40	some	some	DET
cblr-1695	817	41	companies	company	NOUN
cblr-1695	817	42	returning	return	VERB
cblr-1695	817	43	to	to	ADP
cblr-1695	817	44	the	the	DET
cblr-1695	817	45	current	current	ADJ
cblr-1695	817	46	status	status	NOUN
cblr-1695	817	47	quo	quo	NOUN
cblr-1695	817	48	.	.	PUNCT
cblr-1695	818	1	this	this	DET
cblr-1695	818	2	idea	idea	NOUN
cblr-1695	818	3	does	do	AUX
cblr-1695	818	4	not	not	PART
cblr-1695	818	5	have	have	VERB
cblr-1695	818	6	to	to	PART
cblr-1695	818	7	stop	stop	VERB
cblr-1695	818	8	at	at	ADP
cblr-1695	818	9	sox	sox	PROPN
cblr-1695	818	10	and	and	CCONJ
cblr-1695	818	11	dodd	dodd	PROPN
cblr-1695	818	12	-	-	PUNCT
cblr-1695	818	13	frank	frank	PROPN
cblr-1695	818	14	.	.	PUNCT
cblr-1695	819	1	in	in	ADP
cblr-1695	819	2	order	order	NOUN
cblr-1695	819	3	to	to	PART
cblr-1695	819	4	be	be	AUX
cblr-1695	819	5	most	most	ADV
cblr-1695	819	6	effective	effective	ADJ
cblr-1695	819	7	,	,	PUNCT
cblr-1695	819	8	the	the	DET
cblr-1695	819	9	sec	sec	PROPN
cblr-1695	819	10	and	and	CCONJ
cblr-1695	819	11	congress	congress	PROPN
cblr-1695	819	12	should	should	AUX
cblr-1695	819	13	identify	identify	VERB
cblr-1695	819	14	the	the	DET
cblr-1695	819	15	top	top	ADJ
cblr-1695	819	16	regulations	regulation	NOUN
cblr-1695	819	17	across	across	ADP
cblr-1695	819	18	all	all	DET
cblr-1695	819	19	applicable	applicable	ADJ
cblr-1695	819	20	statutes	statute	NOUN
cblr-1695	819	21	that	that	PRON
cblr-1695	819	22	deter	deter	VERB
cblr-1695	819	23	companies	company	NOUN
cblr-1695	819	24	from	from	ADP
cblr-1695	819	25	going	go	VERB
cblr-1695	819	26	public	public	ADJ
cblr-1695	819	27	and	and	CCONJ
cblr-1695	819	28	grant	grant	VERB
cblr-1695	819	29	a	a	DET
cblr-1695	819	30	temporary	temporary	ADJ
cblr-1695	819	31	exemption	exemption	NOUN
cblr-1695	819	32	to	to	ADP
cblr-1695	819	33	any	any	DET
cblr-1695	819	34	firm	firm	NOUN
cblr-1695	819	35	that	that	PRON
cblr-1695	819	36	opts	opt	VERB
cblr-1695	819	37	to	to	PART
cblr-1695	819	38	conduct	conduct	VERB
cblr-1695	819	39	an	an	DET
cblr-1695	819	40	ipo	ipo	NOUN
cblr-1695	819	41	.	.	PUNCT
cblr-1695	820	1	2	2	X
cblr-1695	820	2	.	.	X
cblr-1695	820	3	offer	offer	VERB
cblr-1695	820	4	tax	tax	NOUN
cblr-1695	820	5	incentives	incentive	NOUN
cblr-1695	820	6	to	to	ADP
cblr-1695	820	7	companies	company	NOUN
cblr-1695	820	8	for	for	ADP
cblr-1695	820	9	going	go	VERB
cblr-1695	820	10	public	public	ADJ
cblr-1695	820	11	tax	tax	NOUN
cblr-1695	820	12	policy	policy	NOUN
cblr-1695	820	13	should	should	AUX
cblr-1695	820	14	also	also	ADV
cblr-1695	820	15	be	be	AUX
cblr-1695	820	16	used	use	VERB
cblr-1695	820	17	to	to	PART
cblr-1695	820	18	catalyze	catalyze	NOUN
cblr-1695	820	19	ipos	ipos	NOUN
cblr-1695	820	20	.	.	PUNCT
cblr-1695	821	1	“	"	PUNCT
cblr-1695	821	2	almost	almost	ADV
cblr-1695	821	3	all	all	DET
cblr-1695	821	4	taxes	taxis	NOUN
cblr-1695	821	5	.	.	PUNCT
cblr-1695	821	6	.	.	PUNCT
cblr-1695	821	7	.	.	PUNCT
cblr-1695	822	1	change	change	VERB
cblr-1695	822	2	the	the	DET
cblr-1695	822	3	incentives	incentive	NOUN
cblr-1695	822	4	to	to	PART
cblr-1695	822	5	engage	engage	VERB
cblr-1695	822	6	in	in	ADP
cblr-1695	822	7	various	various	ADJ
cblr-1695	822	8	activities[.]”228	activities[.]”228	PROPN
cblr-1695	822	9	consequently	consequently	ADV
cblr-1695	822	10	,	,	PUNCT
cblr-1695	822	11	congress	congress	PROPN
cblr-1695	822	12	should	should	AUX
cblr-1695	822	13	enact	enact	VERB
cblr-1695	822	14	tax	tax	NOUN
cblr-1695	822	15	legislation	legislation	NOUN
cblr-1695	822	16	,	,	PUNCT
cblr-1695	822	17	such	such	ADJ
cblr-1695	822	18	as	as	ADP
cblr-1695	822	19	an	an	DET
cblr-1695	822	20	ipo	ipo	NOUN
cblr-1695	822	21	tax	tax	NOUN
cblr-1695	822	22	credit	credit	NOUN
cblr-1695	822	23	,	,	PUNCT
cblr-1695	822	24	to	to	PART
cblr-1695	822	25	encourage	encourage	VERB
cblr-1695	822	26	companies	company	NOUN
cblr-1695	822	27	to	to	PART
cblr-1695	822	28	go	go	VERB
cblr-1695	822	29	public	public	ADJ
cblr-1695	822	30	.	.	PUNCT
cblr-1695	823	1	tax	tax	NOUN
cblr-1695	823	2	credits	credit	NOUN
cblr-1695	823	3	are	be	AUX
cblr-1695	823	4	currently	currently	ADV
cblr-1695	823	5	used	use	VERB
cblr-1695	823	6	for	for	ADP
cblr-1695	823	7	a	a	DET
cblr-1695	823	8	wide	wide	ADJ
cblr-1695	823	9	range	range	NOUN
cblr-1695	823	10	of	of	ADP
cblr-1695	823	11	activities	activity	NOUN
cblr-1695	823	12	,	,	PUNCT
cblr-1695	823	13	which	which	PRON
cblr-1695	823	14	are	be	AUX
cblr-1695	823	15	often	often	ADV
cblr-1695	823	16	motivated	motivate	VERB
cblr-1695	823	17	,	,	PUNCT
cblr-1695	823	18	in	in	ADP
cblr-1695	823	19	part	part	NOUN
cblr-1695	823	20	,	,	PUNCT
cblr-1695	823	21	by	by	ADP
cblr-1695	823	22	incentivizing	incentivize	VERB
cblr-1695	823	23	businesses	business	NOUN
cblr-1695	823	24	to	to	PART
cblr-1695	823	25	act	act	VERB
cblr-1695	823	26	in	in	ADP
cblr-1695	823	27	a	a	DET
cblr-1695	823	28	certain	certain	ADJ
cblr-1695	823	29	way	way	NOUN
cblr-1695	823	30	.	.	PUNCT
cblr-1695	824	1	for	for	ADP
cblr-1695	824	2	example	example	NOUN
cblr-1695	824	3	,	,	PUNCT
cblr-1695	824	4	the	the	DET
cblr-1695	824	5	solar	solar	ADJ
cblr-1695	824	6	226	226	NUM
cblr-1695	824	7	see	see	VERB
cblr-1695	824	8	e.g.	e.g.	ADV
cblr-1695	824	9	,	,	PUNCT
cblr-1695	824	10	infra	infra	NOUN
cblr-1695	824	11	notes	note	VERB
cblr-1695	824	12	239–46	239–46	NUM
cblr-1695	824	13	and	and	CCONJ
cblr-1695	824	14	accompanying	accompany	VERB
cblr-1695	824	15	text	text	NOUN
cblr-1695	824	16	(	(	PUNCT
cblr-1695	824	17	discussing	discuss	VERB
cblr-1695	824	18	the	the	DET
cblr-1695	824	19	phenomenon	phenomenon	NOUN
cblr-1695	824	20	of	of	ADP
cblr-1695	824	21	underpricing	underprice	VERB
cblr-1695	824	22	)	)	PUNCT
cblr-1695	824	23	.	.	PUNCT
cblr-1695	825	1	227	227	NUM
cblr-1695	825	2	see	see	VERB
cblr-1695	825	3	supra	supra	PROPN
cblr-1695	825	4	note	note	NOUN
cblr-1695	825	5	95	95	NUM
cblr-1695	825	6	and	and	CCONJ
cblr-1695	825	7	accompanying	accompany	VERB
cblr-1695	825	8	text	text	NOUN
cblr-1695	825	9	.	.	PUNCT
cblr-1695	826	1	228	228	NUM
cblr-1695	826	2	michael	michael	PROPN
cblr-1695	826	3	j.	j.	PROPN
cblr-1695	826	4	graetz	graetz	PROPN
cblr-1695	826	5	&	&	CCONJ
cblr-1695	826	6	deborah	deborah	PROPN
cblr-1695	826	7	h.	h.	PROPN
cblr-1695	826	8	schenk	schenk	PROPN
cblr-1695	826	9	,	,	PUNCT
cblr-1695	826	10	federal	federal	ADJ
cblr-1695	826	11	income	income	NOUN
cblr-1695	826	12	taxation	taxation	NOUN
cblr-1695	826	13	:	:	PUNCT
cblr-1695	826	14	principles	principle	NOUN
cblr-1695	826	15	and	and	CCONJ
cblr-1695	826	16	policies	policy	NOUN
cblr-1695	826	17	28	28	NUM
cblr-1695	826	18	(	(	PUNCT
cblr-1695	826	19	7th	7th	ADJ
cblr-1695	826	20	ed	ed	NOUN
cblr-1695	826	21	.	.	PROPN
cblr-1695	826	22	2013	2013	NUM
cblr-1695	826	23	)	)	PUNCT
cblr-1695	826	24	.	.	PUNCT
cblr-1695	827	1	362	362	NUM
cblr-1695	827	2	columbia	columbia	PROPN
cblr-1695	827	3	business	business	NOUN
cblr-1695	827	4	law	law	PROPN
cblr-1695	827	5	review	review	NOUN
cblr-1695	828	1	[	[	X
cblr-1695	828	2	vol	vol	NOUN
cblr-1695	828	3	.	.	NOUN
cblr-1695	828	4	2019	2019	NUM
cblr-1695	828	5	investment	investment	NOUN
cblr-1695	828	6	tax	tax	NOUN
cblr-1695	828	7	credit	credit	NOUN
cblr-1695	828	8	incentivizes	incentivize	VERB
cblr-1695	828	9	commercial	commercial	ADJ
cblr-1695	828	10	installation	installation	NOUN
cblr-1695	828	11	of	of	ADP
cblr-1695	828	12	solar	solar	ADJ
cblr-1695	828	13	and	and	CCONJ
cblr-1695	828	14	other	other	ADJ
cblr-1695	828	15	renewable	renewable	ADJ
cblr-1695	828	16	energy	energy	NOUN
cblr-1695	828	17	systems.229	systems.229	NOUN
cblr-1695	828	18	similar	similar	ADJ
cblr-1695	828	19	tax	tax	NOUN
cblr-1695	828	20	credits	credit	NOUN
cblr-1695	828	21	could	could	AUX
cblr-1695	828	22	be	be	AUX
cblr-1695	828	23	offered	offer	VERB
cblr-1695	828	24	to	to	ADP
cblr-1695	828	25	companies	company	NOUN
cblr-1695	828	26	that	that	PRON
cblr-1695	828	27	commit	commit	VERB
cblr-1695	828	28	to	to	ADP
cblr-1695	828	29	conducting	conduct	VERB
cblr-1695	828	30	an	an	DET
cblr-1695	828	31	ipo	ipo	NOUN
cblr-1695	828	32	.	.	PUNCT
cblr-1695	829	1	although	although	SCONJ
cblr-1695	829	2	this	this	PRON
cblr-1695	829	3	would	would	AUX
cblr-1695	829	4	initially	initially	ADV
cblr-1695	829	5	have	have	VERB
cblr-1695	829	6	a	a	DET
cblr-1695	829	7	negative	negative	ADJ
cblr-1695	829	8	effect	effect	NOUN
cblr-1695	829	9	on	on	ADP
cblr-1695	829	10	the	the	DET
cblr-1695	829	11	federal	federal	ADJ
cblr-1695	829	12	fisc	fisc	NOUN
cblr-1695	829	13	—	—	PUNCT
cblr-1695	829	14	since	since	SCONJ
cblr-1695	829	15	the	the	DET
cblr-1695	829	16	government	government	NOUN
cblr-1695	829	17	’s	’s	PART
cblr-1695	829	18	tax	tax	NOUN
cblr-1695	829	19	revenue	revenue	NOUN
cblr-1695	829	20	would	would	AUX
cblr-1695	829	21	presumably	presumably	ADV
cblr-1695	829	22	be	be	AUX
cblr-1695	829	23	less	less	ADJ
cblr-1695	829	24	than	than	SCONJ
cblr-1695	829	25	it	it	PRON
cblr-1695	829	26	would	would	AUX
cblr-1695	829	27	be	be	AUX
cblr-1695	829	28	without	without	ADP
cblr-1695	829	29	the	the	DET
cblr-1695	829	30	tax	tax	NOUN
cblr-1695	829	31	credit	credit	NOUN
cblr-1695	829	32	—	—	PUNCT
cblr-1695	829	33	such	such	DET
cblr-1695	829	34	a	a	DET
cblr-1695	829	35	policy	policy	NOUN
cblr-1695	829	36	can	can	AUX
cblr-1695	829	37	be	be	AUX
cblr-1695	829	38	justified	justify	VERB
cblr-1695	829	39	for	for	ADP
cblr-1695	829	40	two	two	NUM
cblr-1695	829	41	reasons	reason	NOUN
cblr-1695	829	42	.	.	PUNCT
cblr-1695	830	1	first	first	ADV
cblr-1695	830	2	,	,	PUNCT
cblr-1695	830	3	encouraging	encourage	VERB
cblr-1695	830	4	more	more	ADJ
cblr-1695	830	5	public	public	ADJ
cblr-1695	830	6	companies	company	NOUN
cblr-1695	830	7	may	may	AUX
cblr-1695	830	8	ultimately	ultimately	ADV
cblr-1695	830	9	result	result	VERB
cblr-1695	830	10	in	in	ADP
cblr-1695	830	11	increased	increase	VERB
cblr-1695	830	12	tax	tax	NOUN
cblr-1695	830	13	revenue	revenue	NOUN
cblr-1695	830	14	in	in	ADP
cblr-1695	830	15	the	the	DET
cblr-1695	830	16	long	long	ADJ
cblr-1695	830	17	run	run	NOUN
cblr-1695	830	18	.	.	PUNCT
cblr-1695	831	1	any	any	DET
cblr-1695	831	2	increased	increase	VERB
cblr-1695	831	3	earnings	earning	NOUN
cblr-1695	831	4	a	a	DET
cblr-1695	831	5	firm	firm	NOUN
cblr-1695	831	6	generates	generate	VERB
cblr-1695	831	7	as	as	ADP
cblr-1695	831	8	a	a	DET
cblr-1695	831	9	public	public	ADJ
cblr-1695	831	10	entity	entity	NOUN
cblr-1695	831	11	would	would	AUX
cblr-1695	831	12	be	be	AUX
cblr-1695	831	13	taxed	tax	VERB
cblr-1695	831	14	as	as	ADP
cblr-1695	831	15	additional	additional	ADJ
cblr-1695	831	16	corporate	corporate	ADJ
cblr-1695	831	17	income.230	income.230	VERB
cblr-1695	831	18	furthermore	furthermore	ADV
cblr-1695	831	19	,	,	PUNCT
cblr-1695	831	20	investors	investor	NOUN
cblr-1695	831	21	in	in	ADP
cblr-1695	831	22	public	public	ADJ
cblr-1695	831	23	common	common	ADJ
cblr-1695	831	24	stock	stock	NOUN
cblr-1695	831	25	would	would	AUX
cblr-1695	831	26	ultimately	ultimately	ADV
cblr-1695	831	27	be	be	AUX
cblr-1695	831	28	taxed	tax	VERB
cblr-1695	831	29	on	on	ADP
cblr-1695	831	30	capital	capital	NOUN
cblr-1695	831	31	gains	gain	NOUN
cblr-1695	831	32	upon	upon	SCONJ
cblr-1695	831	33	their	their	PRON
cblr-1695	831	34	sale	sale	NOUN
cblr-1695	831	35	of	of	ADP
cblr-1695	831	36	such	such	ADJ
cblr-1695	831	37	stock.231	stock.231	ADJ
cblr-1695	831	38	finally	finally	ADV
cblr-1695	831	39	,	,	PUNCT
cblr-1695	831	40	public	public	ADJ
cblr-1695	831	41	companies	company	NOUN
cblr-1695	831	42	would	would	AUX
cblr-1695	831	43	have	have	VERB
cblr-1695	831	44	an	an	DET
cblr-1695	831	45	increased	increase	VERB
cblr-1695	831	46	demand	demand	NOUN
cblr-1695	831	47	for	for	ADP
cblr-1695	831	48	professional	professional	ADJ
cblr-1695	831	49	services	service	NOUN
cblr-1695	831	50	,	,	PUNCT
cblr-1695	831	51	such	such	ADJ
cblr-1695	831	52	as	as	ADP
cblr-1695	831	53	law	law	NOUN
cblr-1695	831	54	and	and	CCONJ
cblr-1695	831	55	accounting	accounting	NOUN
cblr-1695	831	56	,	,	PUNCT
cblr-1695	831	57	which	which	PRON
cblr-1695	831	58	would	would	AUX
cblr-1695	831	59	also	also	ADV
cblr-1695	831	60	lead	lead	VERB
cblr-1695	831	61	to	to	ADP
cblr-1695	831	62	increased	increase	VERB
cblr-1695	831	63	tax	tax	NOUN
cblr-1695	831	64	revenue	revenue	NOUN
cblr-1695	831	65	as	as	SCONJ
cblr-1695	831	66	these	these	DET
cblr-1695	831	67	firms	firm	NOUN
cblr-1695	831	68	earn	earn	VERB
cblr-1695	831	69	additional	additional	ADJ
cblr-1695	831	70	income	income	NOUN
cblr-1695	831	71	servicing	service	VERB
cblr-1695	831	72	new	new	ADJ
cblr-1695	831	73	public	public	ADJ
cblr-1695	831	74	companies	company	NOUN
cblr-1695	831	75	.	.	PUNCT
cblr-1695	832	1	as	as	SCONJ
cblr-1695	832	2	such	such	ADJ
cblr-1695	832	3	,	,	PUNCT
cblr-1695	832	4	tax	tax	NOUN
cblr-1695	832	5	credits	credit	NOUN
cblr-1695	832	6	offered	offer	VERB
cblr-1695	832	7	to	to	PART
cblr-1695	832	8	encourage	encourage	VERB
cblr-1695	832	9	companies	company	NOUN
cblr-1695	832	10	to	to	PART
cblr-1695	832	11	go	go	VERB
cblr-1695	832	12	public	public	ADJ
cblr-1695	832	13	may	may	AUX
cblr-1695	832	14	ultimately	ultimately	ADV
cblr-1695	832	15	pay	pay	VERB
cblr-1695	832	16	off	off	ADP
cblr-1695	832	17	.	.	PUNCT
cblr-1695	833	1	second	second	ADJ
cblr-1695	833	2	,	,	PUNCT
cblr-1695	833	3	even	even	ADV
cblr-1695	833	4	if	if	SCONJ
cblr-1695	833	5	such	such	DET
cblr-1695	833	6	a	a	DET
cblr-1695	833	7	tax	tax	NOUN
cblr-1695	833	8	policy	policy	NOUN
cblr-1695	833	9	did	do	AUX
cblr-1695	833	10	not	not	PART
cblr-1695	833	11	pay	pay	VERB
cblr-1695	833	12	for	for	ADP
cblr-1695	833	13	itself	itself	PRON
cblr-1695	833	14	in	in	ADP
cblr-1695	833	15	the	the	DET
cblr-1695	833	16	long	long	ADJ
cblr-1695	833	17	run	run	NOUN
cblr-1695	833	18	,	,	PUNCT
cblr-1695	833	19	the	the	DET
cblr-1695	833	20	government	government	NOUN
cblr-1695	833	21	should	should	AUX
cblr-1695	833	22	subsidize	subsidize	VERB
cblr-1695	833	23	the	the	DET
cblr-1695	833	24	costs	cost	NOUN
cblr-1695	833	25	of	of	ADP
cblr-1695	833	26	going	go	VERB
cblr-1695	833	27	public	public	ADJ
cblr-1695	833	28	because	because	SCONJ
cblr-1695	833	29	of	of	ADP
cblr-1695	833	30	the	the	DET
cblr-1695	833	31	equality	equality	NOUN
cblr-1695	833	32	ends	end	VERB
cblr-1695	833	33	it	it	PRON
cblr-1695	833	34	achieves.232	achieves.232	PROPN
cblr-1695	833	35	a	a	DET
cblr-1695	833	36	public	public	ADJ
cblr-1695	833	37	company	company	NOUN
cblr-1695	833	38	avails	avail	VERB
cblr-1695	833	39	itself	itself	PRON
cblr-1695	833	40	of	of	ADP
cblr-1695	833	41	a	a	DET
cblr-1695	833	42	wide	wide	ADJ
cblr-1695	833	43	range	range	NOUN
cblr-1695	833	44	of	of	ADP
cblr-1695	833	45	american	american	ADJ
cblr-1695	833	46	investors	investor	NOUN
cblr-1695	833	47	,	,	PUNCT
cblr-1695	833	48	unlike	unlike	ADP
cblr-1695	833	49	private	private	ADJ
cblr-1695	833	50	capital	capital	NOUN
cblr-1695	833	51	,	,	PUNCT
cblr-1695	833	52	which	which	PRON
cblr-1695	833	53	often	often	ADV
cblr-1695	833	54	only	only	ADV
cblr-1695	833	55	provides	provide	VERB
cblr-1695	833	56	returns	return	NOUN
cblr-1695	833	57	to	to	ADP
cblr-1695	833	58	the	the	DET
cblr-1695	833	59	wealthy.233	wealthy.233	NOUN
cblr-1695	833	60	increasing	increase	VERB
cblr-1695	833	61	activity	activity	NOUN
cblr-1695	833	62	in	in	ADP
cblr-1695	833	63	the	the	DET
cblr-1695	833	64	public	public	ADJ
cblr-1695	833	65	markets	market	NOUN
cblr-1695	833	66	is	be	AUX
cblr-1695	833	67	ultimately	ultimately	ADV
cblr-1695	833	68	good	good	ADJ
cblr-1695	833	69	for	for	ADP
cblr-1695	833	70	the	the	DET
cblr-1695	833	71	public	public	NOUN
cblr-1695	833	72	.	.	PUNCT
cblr-1695	834	1	however	however	ADV
cblr-1695	834	2	,	,	PUNCT
cblr-1695	834	3	because	because	SCONJ
cblr-1695	834	4	ipos	ipos	PROPN
cblr-1695	834	5	are	be	AUX
cblr-1695	834	6	costly	costly	ADJ
cblr-1695	834	7	endeavors	endeavor	NOUN
cblr-1695	834	8	,	,	PUNCT
cblr-1695	834	9	many	many	ADJ
cblr-1695	834	10	companies	company	NOUN
cblr-1695	834	11	are	be	AUX
cblr-1695	834	12	incentivized	incentivize	VERB
cblr-1695	834	13	to	to	PART
cblr-1695	834	14	remain	remain	VERB
cblr-1695	834	15	229	229	NUM
cblr-1695	834	16	see	see	NOUN
cblr-1695	834	17	brad	brad	PROPN
cblr-1695	834	18	plumer	plumer	PROPN
cblr-1695	834	19	,	,	PUNCT
cblr-1695	834	20	tax	tax	NOUN
cblr-1695	834	21	bill	bill	NOUN
cblr-1695	834	22	largely	largely	ADV
cblr-1695	834	23	preserves	preserve	VERB
cblr-1695	834	24	incentives	incentive	NOUN
cblr-1695	834	25	for	for	ADP
cblr-1695	834	26	wind	wind	NOUN
cblr-1695	834	27	and	and	CCONJ
cblr-1695	834	28	solar	solar	ADJ
cblr-1695	834	29	power	power	NOUN
cblr-1695	834	30	,	,	PUNCT
cblr-1695	834	31	n.y	n.y	PROPN
cblr-1695	834	32	.	.	PROPN
cblr-1695	834	33	times	times	PROPN
cblr-1695	834	34	(	(	PUNCT
cblr-1695	834	35	dec	dec	PROPN
cblr-1695	834	36	.	.	PROPN
cblr-1695	834	37	16	16	NUM
cblr-1695	834	38	,	,	PUNCT
cblr-1695	834	39	2017	2017	NUM
cblr-1695	834	40	)	)	PUNCT
cblr-1695	834	41	,	,	PUNCT
cblr-1695	834	42	https://www.nytimes.com/	https://www.nytimes.com/	ADJ
cblr-1695	834	43	2017/12/16	2017/12/16	NUM
cblr-1695	834	44	/	/	SYM
cblr-1695	834	45	climate	climate	NOUN
cblr-1695	834	46	/	/	SYM
cblr-1695	834	47	tax	tax	NOUN
cblr-1695	834	48	-	-	PUNCT
cblr-1695	834	49	bill	bill	NOUN
cblr-1695	834	50	-	-	PUNCT
cblr-1695	834	51	wind	wind	NOUN
cblr-1695	834	52	-	-	PUNCT
cblr-1695	834	53	solar.html	solar.html	NOUN
cblr-1695	835	1	[	[	PUNCT
cblr-1695	835	2	https://perma.cc/x5t6-sedn	https://perma.cc/x5t6-sedn	NOUN
cblr-1695	835	3	]	]	PUNCT
cblr-1695	835	4	(	(	PUNCT
cblr-1695	835	5	“	"	PUNCT
cblr-1695	835	6	for	for	ADP
cblr-1695	835	7	years	year	NOUN
cblr-1695	835	8	,	,	PUNCT
cblr-1695	835	9	congress	congress	PROPN
cblr-1695	835	10	has	have	AUX
cblr-1695	835	11	offered	offer	VERB
cblr-1695	835	12	tax	tax	NOUN
cblr-1695	835	13	credits	credit	NOUN
cblr-1695	835	14	for	for	ADP
cblr-1695	835	15	wind	wind	NOUN
cblr-1695	835	16	and	and	CCONJ
cblr-1695	835	17	solar	solar	ADJ
cblr-1695	835	18	projects	project	NOUN
cblr-1695	835	19	that	that	PRON
cblr-1695	835	20	can	can	AUX
cblr-1695	835	21	offset	offset	VERB
cblr-1695	835	22	30	30	NUM
cblr-1695	835	23	percent	percent	NOUN
cblr-1695	835	24	or	or	CCONJ
cblr-1695	835	25	more	more	ADJ
cblr-1695	835	26	of	of	ADP
cblr-1695	835	27	the	the	DET
cblr-1695	835	28	total	total	ADJ
cblr-1695	835	29	costs	cost	NOUN
cblr-1695	835	30	.	.	PUNCT
cblr-1695	835	31	”	"	PUNCT
cblr-1695	835	32	)	)	PUNCT
cblr-1695	835	33	.	.	PUNCT
cblr-1695	836	1	230	230	NUM
cblr-1695	836	2	this	this	PRON
cblr-1695	836	3	is	be	AUX
cblr-1695	836	4	based	base	VERB
cblr-1695	836	5	on	on	ADP
cblr-1695	836	6	the	the	DET
cblr-1695	836	7	gross	gross	ADJ
cblr-1695	836	8	oversimplification	oversimplification	NOUN
cblr-1695	836	9	that	that	PRON
cblr-1695	836	10	higher	high	ADJ
cblr-1695	836	11	profits	profit	NOUN
cblr-1695	836	12	would	would	AUX
cblr-1695	836	13	yield	yield	VERB
cblr-1695	836	14	higher	high	ADJ
cblr-1695	836	15	taxable	taxable	ADJ
cblr-1695	836	16	corporate	corporate	ADJ
cblr-1695	836	17	income	income	NOUN
cblr-1695	836	18	.	.	PUNCT
cblr-1695	837	1	but	but	CCONJ
cblr-1695	837	2	see	see	VERB
cblr-1695	837	3	patricia	patricia	PROPN
cblr-1695	837	4	cohen	cohen	PROPN
cblr-1695	837	5	,	,	PUNCT
cblr-1695	837	6	profitable	profitable	ADJ
cblr-1695	837	7	companies	company	NOUN
cblr-1695	837	8	,	,	PUNCT
cblr-1695	837	9	no	no	DET
cblr-1695	837	10	taxes	taxis	NOUN
cblr-1695	837	11	:	:	PUNCT
cblr-1695	837	12	here	here	ADV
cblr-1695	837	13	’s	’	VERB
cblr-1695	837	14	how	how	SCONJ
cblr-1695	837	15	they	they	PRON
cblr-1695	837	16	did	do	VERB
cblr-1695	837	17	it	it	PRON
cblr-1695	837	18	,	,	PUNCT
cblr-1695	837	19	n.y	n.y	PROPN
cblr-1695	837	20	.	.	PROPN
cblr-1695	837	21	times	times	PROPN
cblr-1695	837	22	(	(	PUNCT
cblr-1695	837	23	mar	mar	PROPN
cblr-1695	837	24	.	.	PROPN
cblr-1695	837	25	9	9	NUM
cblr-1695	837	26	,	,	PUNCT
cblr-1695	837	27	2017	2017	NUM
cblr-1695	837	28	)	)	PUNCT
cblr-1695	837	29	,	,	PUNCT
cblr-1695	837	30	https://www.nytimes.com/2017/03/09/business/economy/corporatetax-report.html	https://www.nytimes.com/2017/03/09/business/economy/corporatetax-report.html	PROPN
cblr-1695	838	1	[	[	X
cblr-1695	838	2	https://perma.cc/x8qa-9tq6	https://perma.cc/x8qa-9tq6	PROPN
cblr-1695	838	3	]	]	X
cblr-1695	838	4	.	.	PUNCT
cblr-1695	838	5	231	231	NUM
cblr-1695	838	6	see	see	VERB
cblr-1695	838	7	generally	generally	ADV
cblr-1695	838	8	graetz	graetz	PROPN
cblr-1695	838	9	&	&	CCONJ
cblr-1695	838	10	schenk	schenk	PROPN
cblr-1695	838	11	,	,	PUNCT
cblr-1695	838	12	supra	supra	PROPN
cblr-1695	838	13	note	note	PROPN
cblr-1695	838	14	228	228	NUM
cblr-1695	838	15	,	,	PUNCT
cblr-1695	838	16	at	at	ADP
cblr-1695	838	17	497–504	497–504	NUM
cblr-1695	838	18	.	.	PUNCT
cblr-1695	839	1	232	232	NUM
cblr-1695	839	2	see	see	VERB
cblr-1695	839	3	supra	supra	PROPN
cblr-1695	839	4	section	section	PROPN
cblr-1695	839	5	iv.b	iv.b	PROPN
cblr-1695	839	6	.	.	PROPN
cblr-1695	839	7	233	233	NUM
cblr-1695	839	8	see	see	VERB
cblr-1695	839	9	supra	supra	PROPN
cblr-1695	839	10	section	section	PROPN
cblr-1695	839	11	iv.b	iv.b	PROPN
cblr-1695	839	12	.	.	PUNCT
cblr-1695	840	1	no	no	INTJ
cblr-1695	840	2	.	.	PUNCT
cblr-1695	841	1	1:305	1:305	NUM
cblr-1695	841	2	]	]	X
cblr-1695	841	3	going	go	VERB
cblr-1695	841	4	public	public	ADJ
cblr-1695	841	5	secretly	secretly	ADV
cblr-1695	841	6	363	363	NUM
cblr-1695	841	7	private	private	ADJ
cblr-1695	841	8	.	.	PUNCT
cblr-1695	842	1	tax	tax	NOUN
cblr-1695	842	2	credits	credit	NOUN
cblr-1695	842	3	could	could	AUX
cblr-1695	842	4	be	be	AUX
cblr-1695	842	5	a	a	DET
cblr-1695	842	6	viable	viable	ADJ
cblr-1695	842	7	solution	solution	NOUN
cblr-1695	842	8	to	to	PART
cblr-1695	842	9	help	help	VERB
cblr-1695	842	10	subsidize	subsidize	VERB
cblr-1695	842	11	the	the	DET
cblr-1695	842	12	costs	cost	NOUN
cblr-1695	842	13	of	of	ADP
cblr-1695	842	14	going	go	VERB
cblr-1695	842	15	public	public	ADJ
cblr-1695	842	16	.	.	PUNCT
cblr-1695	843	1	economically	economically	ADV
cblr-1695	843	2	rational	rational	ADJ
cblr-1695	843	3	companies	company	NOUN
cblr-1695	843	4	will	will	AUX
cblr-1695	843	5	ultimately	ultimately	ADV
cblr-1695	843	6	decide	decide	VERB
cblr-1695	843	7	for	for	ADP
cblr-1695	843	8	or	or	CCONJ
cblr-1695	843	9	against	against	ADP
cblr-1695	843	10	an	an	DET
cblr-1695	843	11	ipo	ipo	NOUN
cblr-1695	843	12	based	base	VERB
cblr-1695	843	13	on	on	ADP
cblr-1695	843	14	its	its	PRON
cblr-1695	843	15	potential	potential	ADJ
cblr-1695	843	16	financial	financial	ADJ
cblr-1695	843	17	impact	impact	NOUN
cblr-1695	843	18	.	.	PUNCT
cblr-1695	844	1	tax	tax	NOUN
cblr-1695	844	2	credits	credit	NOUN
cblr-1695	844	3	can	can	AUX
cblr-1695	844	4	serve	serve	VERB
cblr-1695	844	5	as	as	ADP
cblr-1695	844	6	a	a	DET
cblr-1695	844	7	meaningful	meaningful	ADJ
cblr-1695	844	8	way	way	NOUN
cblr-1695	844	9	to	to	PART
cblr-1695	844	10	effectively	effectively	ADV
cblr-1695	844	11	reduce	reduce	VERB
cblr-1695	844	12	the	the	DET
cblr-1695	844	13	costs	cost	NOUN
cblr-1695	844	14	of	of	ADP
cblr-1695	844	15	going	go	VERB
cblr-1695	844	16	public	public	ADJ
cblr-1695	844	17	and	and	CCONJ
cblr-1695	844	18	,	,	PUNCT
cblr-1695	844	19	therefore	therefore	ADV
cblr-1695	844	20	,	,	PUNCT
cblr-1695	844	21	encourage	encourage	VERB
cblr-1695	844	22	more	more	ADJ
cblr-1695	844	23	companies	company	NOUN
cblr-1695	844	24	to	to	PART
cblr-1695	844	25	choose	choose	VERB
cblr-1695	844	26	the	the	DET
cblr-1695	844	27	public	public	ADJ
cblr-1695	844	28	markets	market	NOUN
cblr-1695	844	29	over	over	ADP
cblr-1695	844	30	private	private	ADJ
cblr-1695	844	31	.	.	PUNCT
cblr-1695	845	1	c.	c.	PROPN
cblr-1695	845	2	eliminate	eliminate	VERB
cblr-1695	845	3	the	the	DET
cblr-1695	845	4	confidential	confidential	ADJ
cblr-1695	845	5	drs	drs	ADJ
cblr-1695	845	6	process	process	NOUN
cblr-1695	845	7	for	for	ADP
cblr-1695	845	8	egcs	egcs	ADJ
cblr-1695	845	9	and	and	CCONJ
cblr-1695	845	10	non	non	ADJ
cblr-1695	845	11	-	-	ADJ
cblr-1695	845	12	egcs	egcs	VERB
cblr-1695	845	13	the	the	DET
cblr-1695	845	14	confidential	confidential	ADJ
cblr-1695	845	15	drs	drs	ADJ
cblr-1695	845	16	process	process	NOUN
cblr-1695	845	17	has	have	VERB
cblr-1695	845	18	yet	yet	ADV
cblr-1695	845	19	to	to	PART
cblr-1695	845	20	conclusively	conclusively	ADV
cblr-1695	845	21	increase	increase	VERB
cblr-1695	845	22	ipo	ipo	NOUN
cblr-1695	845	23	activity	activity	NOUN
cblr-1695	845	24	.	.	PUNCT
cblr-1695	846	1	companies	company	NOUN
cblr-1695	846	2	themselves	themselves	PRON
cblr-1695	846	3	,	,	PUNCT
cblr-1695	846	4	not	not	PART
cblr-1695	846	5	investors	investor	NOUN
cblr-1695	846	6	or	or	CCONJ
cblr-1695	846	7	the	the	DET
cblr-1695	846	8	capital	capital	NOUN
cblr-1695	846	9	markets	market	NOUN
cblr-1695	846	10	,	,	PUNCT
cblr-1695	846	11	are	be	AUX
cblr-1695	846	12	the	the	DET
cblr-1695	846	13	only	only	ADJ
cblr-1695	846	14	ones	one	NOUN
cblr-1695	846	15	who	who	PRON
cblr-1695	846	16	benefit	benefit	VERB
cblr-1695	846	17	from	from	ADP
cblr-1695	846	18	the	the	DET
cblr-1695	846	19	current	current	ADJ
cblr-1695	846	20	policies	policy	NOUN
cblr-1695	846	21	enacted	enact	VERB
cblr-1695	846	22	through	through	ADP
cblr-1695	846	23	the	the	DET
cblr-1695	846	24	jobs	job	NOUN
cblr-1695	846	25	act	act	NOUN
cblr-1695	846	26	and	and	CCONJ
cblr-1695	846	27	the	the	DET
cblr-1695	846	28	july	july	PROPN
cblr-1695	846	29	2017	2017	NUM
cblr-1695	846	30	change	change	NOUN
cblr-1695	846	31	.	.	PUNCT
cblr-1695	847	1	instead	instead	ADV
cblr-1695	847	2	,	,	PUNCT
cblr-1695	847	3	the	the	DET
cblr-1695	847	4	confidential	confidential	ADJ
cblr-1695	847	5	drs	drs	ADJ
cblr-1695	847	6	process	process	NOUN
cblr-1695	847	7	actively	actively	ADV
cblr-1695	847	8	inhibits	inhibit	VERB
cblr-1695	847	9	ipo	ipo	NOUN
cblr-1695	847	10	growth	growth	NOUN
cblr-1695	847	11	and	and	CCONJ
cblr-1695	847	12	has	have	VERB
cblr-1695	847	13	other	other	ADJ
cblr-1695	847	14	negative	negative	ADJ
cblr-1695	847	15	consequences	consequence	NOUN
cblr-1695	847	16	.	.	PUNCT
cblr-1695	848	1	therefore	therefore	ADV
cblr-1695	848	2	,	,	PUNCT
cblr-1695	848	3	it	it	PRON
cblr-1695	848	4	should	should	AUX
cblr-1695	848	5	be	be	AUX
cblr-1695	848	6	ended	end	VERB
cblr-1695	848	7	for	for	ADP
cblr-1695	848	8	egcs	egcs	ADJ
cblr-1695	848	9	and	and	CCONJ
cblr-1695	848	10	non	non	ADJ
cblr-1695	848	11	-	-	ADJ
cblr-1695	848	12	egcs	egcs	ADJ
cblr-1695	848	13	alike	alike	ADV
cblr-1695	848	14	,	,	PUNCT
cblr-1695	848	15	and	and	CCONJ
cblr-1695	848	16	the	the	DET
cblr-1695	848	17	ipo	ipo	NOUN
cblr-1695	848	18	process	process	NOUN
cblr-1695	848	19	must	must	AUX
cblr-1695	848	20	return	return	VERB
cblr-1695	848	21	to	to	ADP
cblr-1695	848	22	the	the	DET
cblr-1695	848	23	principles	principle	NOUN
cblr-1695	848	24	of	of	ADP
cblr-1695	848	25	public	public	ADJ
cblr-1695	848	26	disclosure	disclosure	NOUN
cblr-1695	848	27	as	as	SCONJ
cblr-1695	848	28	originally	originally	ADV
cblr-1695	848	29	intended	intend	VERB
cblr-1695	848	30	by	by	ADP
cblr-1695	848	31	the	the	DET
cblr-1695	848	32	1933	1933	NUM
cblr-1695	848	33	act	act	NOUN
cblr-1695	848	34	.	.	PUNCT
cblr-1695	849	1	the	the	DET
cblr-1695	849	2	first	first	ADJ
cblr-1695	849	3	problem	problem	NOUN
cblr-1695	849	4	with	with	ADP
cblr-1695	849	5	the	the	DET
cblr-1695	849	6	confidential	confidential	ADJ
cblr-1695	849	7	drs	drs	ADJ
cblr-1695	849	8	process	process	NOUN
cblr-1695	849	9	is	be	AUX
cblr-1695	849	10	it	it	PRON
cblr-1695	849	11	inhibits	inhibit	VERB
cblr-1695	849	12	companies	company	NOUN
cblr-1695	849	13	from	from	ADP
cblr-1695	849	14	going	go	VERB
cblr-1695	849	15	public	public	ADJ
cblr-1695	849	16	because	because	SCONJ
cblr-1695	849	17	they	they	PRON
cblr-1695	849	18	have	have	VERB
cblr-1695	849	19	“	"	PUNCT
cblr-1695	849	20	greater	great	ADJ
cblr-1695	849	21	flexibility	flexibility	NOUN
cblr-1695	849	22	in	in	ADP
cblr-1695	849	23	timing	time	VERB
cblr-1695	849	24	their	their	PRON
cblr-1695	849	25	ipos	ipos	NOUN
cblr-1695	849	26	.	.	PUNCT
cblr-1695	850	1	”234	”234	PROPN
cblr-1695	850	2	for	for	ADP
cblr-1695	850	3	example	example	NOUN
cblr-1695	850	4	,	,	PUNCT
cblr-1695	850	5	prior	prior	ADV
cblr-1695	850	6	to	to	ADP
cblr-1695	850	7	2000	2000	NUM
cblr-1695	850	8	,	,	PUNCT
cblr-1695	850	9	it	it	PRON
cblr-1695	850	10	typically	typically	ADV
cblr-1695	850	11	took	take	VERB
cblr-1695	850	12	between	between	ADP
cblr-1695	850	13	forty	forty	NUM
cblr-1695	850	14	-	-	PUNCT
cblr-1695	850	15	five	five	NUM
cblr-1695	850	16	and	and	CCONJ
cblr-1695	850	17	sixty	sixty	NUM
cblr-1695	850	18	days	day	NOUN
cblr-1695	850	19	for	for	SCONJ
cblr-1695	850	20	a	a	DET
cblr-1695	850	21	company	company	NOUN
cblr-1695	850	22	to	to	PART
cblr-1695	850	23	complete	complete	VERB
cblr-1695	850	24	an	an	DET
cblr-1695	850	25	ipo	ipo	NOUN
cblr-1695	850	26	after	after	ADP
cblr-1695	850	27	initially	initially	ADV
cblr-1695	850	28	filing	file	VERB
cblr-1695	850	29	its	its	PRON
cblr-1695	850	30	registration	registration	NOUN
cblr-1695	850	31	statement.235	statement.235	VERB
cblr-1695	850	32	however	however	ADV
cblr-1695	850	33	,	,	PUNCT
cblr-1695	850	34	from	from	ADP
cblr-1695	850	35	2013–2016	2013–2016	NUM
cblr-1695	850	36	,	,	PUNCT
cblr-1695	850	37	it	it	PRON
cblr-1695	850	38	took	take	VERB
cblr-1695	850	39	egcs	egcs	PROPN
cblr-1695	850	40	a	a	DET
cblr-1695	850	41	median	median	NOUN
cblr-1695	850	42	of	of	ADP
cblr-1695	850	43	sixty	sixty	NUM
cblr-1695	850	44	-	-	PUNCT
cblr-1695	850	45	seven	seven	NUM
cblr-1695	850	46	days	day	NOUN
cblr-1695	850	47	from	from	ADP
cblr-1695	850	48	the	the	DET
cblr-1695	850	49	initial	initial	ADJ
cblr-1695	850	50	confidential	confidential	ADJ
cblr-1695	850	51	drs	drs	ADJ
cblr-1695	850	52	filing	filing	NOUN
cblr-1695	850	53	to	to	ADP
cblr-1695	850	54	the	the	DET
cblr-1695	850	55	filing	filing	NOUN
cblr-1695	850	56	of	of	ADP
cblr-1695	850	57	the	the	DET
cblr-1695	850	58	form	form	NOUN
cblr-1695	850	59	s-1.236	s-1.236	PUNCT
cblr-1695	850	60	such	such	ADJ
cblr-1695	850	61	companies	company	NOUN
cblr-1695	850	62	then	then	ADV
cblr-1695	850	63	take	take	VERB
cblr-1695	850	64	additional	additional	ADJ
cblr-1695	850	65	time	time	NOUN
cblr-1695	850	66	between	between	ADP
cblr-1695	850	67	the	the	DET
cblr-1695	850	68	filing	filing	NOUN
cblr-1695	850	69	of	of	ADP
cblr-1695	850	70	the	the	DET
cblr-1695	850	71	form	form	NOUN
cblr-1695	850	72	s-1	s-1	NOUN
cblr-1695	850	73	and	and	CCONJ
cblr-1695	850	74	the	the	DET
cblr-1695	850	75	actual	actual	ADJ
cblr-1695	850	76	ipo	ipo	PROPN
cblr-1695	850	77	date.237	date.237	PROPN
cblr-1695	850	78	although	although	SCONJ
cblr-1695	850	79	this	this	PRON
cblr-1695	850	80	may	may	AUX
cblr-1695	850	81	suggest	suggest	VERB
cblr-1695	850	82	that	that	SCONJ
cblr-1695	850	83	the	the	DET
cblr-1695	850	84	confidential	confidential	ADJ
cblr-1695	850	85	drs	drs	ADJ
cblr-1695	850	86	process	process	NOUN
cblr-1695	850	87	merely	merely	ADV
cblr-1695	850	88	adds	add	VERB
cblr-1695	850	89	an	an	DET
cblr-1695	850	90	additional	additional	ADJ
cblr-1695	850	91	few	few	ADJ
cblr-1695	850	92	months	month	NOUN
cblr-1695	850	93	to	to	ADP
cblr-1695	850	94	the	the	DET
cblr-1695	850	95	overall	overall	ADJ
cblr-1695	850	96	ipo	ipo	NOUN
cblr-1695	850	97	timeline	timeline	NOUN
cblr-1695	850	98	,	,	PUNCT
cblr-1695	850	99	in	in	ADP
cblr-1695	850	100	some	some	DET
cblr-1695	850	101	cases	case	NOUN
cblr-1695	850	102	,	,	PUNCT
cblr-1695	850	103	firms	firm	NOUN
cblr-1695	850	104	may	may	AUX
cblr-1695	850	105	wait	wait	VERB
cblr-1695	850	106	years	year	NOUN
cblr-1695	850	107	after	after	ADP
cblr-1695	850	108	filing	file	VERB
cblr-1695	850	109	a	a	DET
cblr-1695	850	110	confidential	confidential	ADJ
cblr-1695	850	111	drs	dr	NOUN
cblr-1695	850	112	before	before	ADP
cblr-1695	850	113	going	go	VERB
cblr-1695	850	114	public.238	public.238	NOUN
cblr-1695	850	115	thus	thus	ADV
cblr-1695	850	116	,	,	PUNCT
cblr-1695	850	117	the	the	DET
cblr-1695	850	118	ability	ability	NOUN
cblr-1695	850	119	to	to	PART
cblr-1695	850	120	confidentially	confidentially	ADV
cblr-1695	850	121	file	file	VERB
cblr-1695	850	122	a	a	DET
cblr-1695	850	123	234	234	NUM
cblr-1695	850	124	marderosian	marderosian	NOUN
cblr-1695	850	125	,	,	PUNCT
cblr-1695	850	126	supra	supra	ADJ
cblr-1695	850	127	note	note	NOUN
cblr-1695	850	128	106	106	NUM
cblr-1695	850	129	.	.	PUNCT
cblr-1695	851	1	235	235	NUM
cblr-1695	851	2	see	see	VERB
cblr-1695	851	3	i	i	PRON
cblr-1695	851	4	d.	d.	PROPN
cblr-1695	851	5	236	236	NUM
cblr-1695	851	6	i	i	PROPN
cblr-1695	851	7	d.	d.	PROPN
cblr-1695	851	8	237	237	NUM
cblr-1695	851	9	see	see	VERB
cblr-1695	851	10	supra	supra	ADJ
cblr-1695	851	11	notes	note	NOUN
cblr-1695	851	12	69–71	69–71	NUM
cblr-1695	851	13	and	and	CCONJ
cblr-1695	851	14	accompanying	accompany	VERB
cblr-1695	851	15	text	text	NOUN
cblr-1695	851	16	.	.	PUNCT
cblr-1695	852	1	238	238	NUM
cblr-1695	852	2	see	see	VERB
cblr-1695	852	3	supra	supra	PROPN
cblr-1695	852	4	notes	note	VERB
cblr-1695	852	5	169–70	169–70	PROPN
cblr-1695	852	6	and	and	CCONJ
cblr-1695	852	7	accompanying	accompany	VERB
cblr-1695	852	8	text	text	NOUN
cblr-1695	852	9	.	.	PUNCT
cblr-1695	853	1	364	364	NUM
cblr-1695	853	2	columbia	columbia	PROPN
cblr-1695	853	3	business	business	NOUN
cblr-1695	853	4	law	law	PROPN
cblr-1695	853	5	review	review	NOUN
cblr-1695	853	6	[	[	X
cblr-1695	853	7	vol	vol	NOUN
cblr-1695	853	8	.	.	NOUN
cblr-1695	853	9	2019	2019	NUM
cblr-1695	853	10	drs	drs	PROPN
cblr-1695	853	11	allows	allow	VERB
cblr-1695	853	12	companies	company	NOUN
cblr-1695	853	13	to	to	PART
cblr-1695	853	14	remain	remain	VERB
cblr-1695	853	15	private	private	ADJ
cblr-1695	853	16	for	for	ADP
cblr-1695	853	17	much	much	ADV
cblr-1695	853	18	longer	long	ADJ
cblr-1695	853	19	than	than	SCONJ
cblr-1695	853	20	companies	company	NOUN
cblr-1695	853	21	did	do	VERB
cblr-1695	853	22	before	before	ADP
cblr-1695	853	23	the	the	DET
cblr-1695	853	24	creation	creation	NOUN
cblr-1695	853	25	of	of	ADP
cblr-1695	853	26	the	the	DET
cblr-1695	853	27	confidential	confidential	ADJ
cblr-1695	853	28	drs	drs	ADJ
cblr-1695	853	29	review	review	NOUN
cblr-1695	853	30	process	process	NOUN
cblr-1695	853	31	.	.	PUNCT
cblr-1695	854	1	a	a	DET
cblr-1695	854	2	second	second	ADJ
cblr-1695	854	3	problem	problem	NOUN
cblr-1695	854	4	with	with	ADP
cblr-1695	854	5	the	the	DET
cblr-1695	854	6	confidential	confidential	ADJ
cblr-1695	854	7	drs	drs	ADJ
cblr-1695	854	8	process	process	NOUN
cblr-1695	854	9	is	be	AUX
cblr-1695	854	10	that	that	SCONJ
cblr-1695	854	11	some	some	DET
cblr-1695	854	12	evidence	evidence	NOUN
cblr-1695	854	13	suggests	suggest	VERB
cblr-1695	854	14	it	it	PRON
cblr-1695	854	15	does	do	AUX
cblr-1695	854	16	not	not	PART
cblr-1695	854	17	reduce	reduce	VERB
cblr-1695	854	18	costs	cost	NOUN
cblr-1695	854	19	associated	associate	VERB
cblr-1695	854	20	with	with	ADP
cblr-1695	854	21	going	go	VERB
cblr-1695	854	22	public	public	ADJ
cblr-1695	854	23	.	.	PUNCT
cblr-1695	855	1	for	for	ADP
cblr-1695	855	2	example	example	NOUN
cblr-1695	855	3	,	,	PUNCT
cblr-1695	855	4	one	one	NUM
cblr-1695	855	5	study	study	NOUN
cblr-1695	855	6	found	find	VERB
cblr-1695	855	7	that	that	SCONJ
cblr-1695	855	8	the	the	DET
cblr-1695	855	9	jobs	job	NOUN
cblr-1695	855	10	act	act	NOUN
cblr-1695	855	11	did	do	AUX
cblr-1695	855	12	not	not	PART
cblr-1695	855	13	reduce	reduce	VERB
cblr-1695	855	14	the	the	DET
cblr-1695	855	15	direct	direct	ADJ
cblr-1695	855	16	costs	cost	NOUN
cblr-1695	855	17	of	of	ADP
cblr-1695	855	18	going	go	VERB
cblr-1695	855	19	public	public	ADJ
cblr-1695	855	20	,	,	PUNCT
cblr-1695	855	21	and	and	CCONJ
cblr-1695	855	22	actually	actually	ADV
cblr-1695	855	23	increased	increase	VERB
cblr-1695	855	24	indirect	indirect	ADJ
cblr-1695	855	25	costs	cost	NOUN
cblr-1695	855	26	—	—	PUNCT
cblr-1695	855	27	measured	measure	VERB
cblr-1695	855	28	by	by	ADP
cblr-1695	855	29	underpricing239	underpricing239	PROPN
cblr-1695	855	30	—	—	PUNCT
cblr-1695	855	31	by	by	ADP
cblr-1695	855	32	seventy	seventy	NUM
cblr-1695	855	33	-	-	PUNCT
cblr-1695	855	34	six	six	NUM
cblr-1695	855	35	percent.240	percent.240	NOUN
cblr-1695	855	36	the	the	DET
cblr-1695	855	37	study	study	NOUN
cblr-1695	855	38	notes	note	VERB
cblr-1695	855	39	that	that	SCONJ
cblr-1695	855	40	these	these	DET
cblr-1695	855	41	findings	finding	NOUN
cblr-1695	855	42	“	"	PUNCT
cblr-1695	855	43	are	be	AUX
cblr-1695	855	44	consistent	consistent	ADJ
cblr-1695	855	45	with	with	ADP
cblr-1695	855	46	a	a	DET
cblr-1695	855	47	large	large	ADJ
cblr-1695	855	48	body	body	NOUN
cblr-1695	855	49	of	of	ADP
cblr-1695	855	50	literature	literature	NOUN
cblr-1695	855	51	that	that	PRON
cblr-1695	855	52	finds	find	VERB
cblr-1695	855	53	that	that	SCONJ
cblr-1695	855	54	investors	investor	NOUN
cblr-1695	855	55	value	value	VERB
cblr-1695	855	56	transparency	transparency	NOUN
cblr-1695	855	57	and	and	CCONJ
cblr-1695	855	58	that	that	SCONJ
cblr-1695	855	59	,	,	PUNCT
cblr-1695	855	60	in	in	ADP
cblr-1695	855	61	its	its	PRON
cblr-1695	855	62	absence	absence	NOUN
cblr-1695	855	63	,	,	PUNCT
cblr-1695	855	64	issuers	issuer	NOUN
cblr-1695	855	65	are	be	AUX
cblr-1695	855	66	penalized	penalize	VERB
cblr-1695	855	67	by	by	ADP
cblr-1695	855	68	a	a	DET
cblr-1695	855	69	higher	high	ADJ
cblr-1695	855	70	cost	cost	NOUN
cblr-1695	855	71	of	of	ADP
cblr-1695	855	72	capital	capital	NOUN
cblr-1695	855	73	.	.	PUNCT
cblr-1695	856	1	”241	”241	VERB
cblr-1695	856	2	finally	finally	ADV
cblr-1695	856	3	,	,	PUNCT
cblr-1695	856	4	the	the	DET
cblr-1695	856	5	confidential	confidential	ADJ
cblr-1695	856	6	drs	drs	ADJ
cblr-1695	856	7	process	process	NOUN
cblr-1695	856	8	has	have	AUX
cblr-1695	856	9	also	also	ADV
cblr-1695	856	10	resulted	result	VERB
cblr-1695	856	11	in	in	ADP
cblr-1695	856	12	unintended	unintended	ADJ
cblr-1695	856	13	consequences	consequence	NOUN
cblr-1695	856	14	that	that	PRON
cblr-1695	856	15	negatively	negatively	ADV
cblr-1695	856	16	affect	affect	VERB
cblr-1695	856	17	individual	individual	ADJ
cblr-1695	856	18	investors	investor	NOUN
cblr-1695	856	19	.	.	PUNCT
cblr-1695	857	1	a	a	DET
cblr-1695	857	2	study	study	NOUN
cblr-1695	857	3	conducted	conduct	VERB
cblr-1695	857	4	by	by	ADP
cblr-1695	857	5	then	then	ADV
cblr-1695	857	6	-	-	PUNCT
cblr-1695	857	7	professor	professor	NOUN
cblr-1695	857	8	robert	robert	PROPN
cblr-1695	857	9	j.	j.	PROPN
cblr-1695	857	10	jackson	jackson	PROPN
cblr-1695	857	11	,	,	PUNCT
cblr-1695	857	12	jr	jr	PROPN
cblr-1695	857	13	.	.	PROPN
cblr-1695	857	14	,	,	PUNCT
cblr-1695	857	15	a	a	DET
cblr-1695	857	16	current	current	ADJ
cblr-1695	857	17	sec	sec	PROPN
cblr-1695	857	18	commissioner	commissioner	NOUN
cblr-1695	857	19	,	,	PUNCT
cblr-1695	857	20	and	and	CCONJ
cblr-1695	857	21	others	other	NOUN
cblr-1695	857	22	examined	examine	VERB
cblr-1695	857	23	the	the	DET
cblr-1695	857	24	confidential	confidential	ADJ
cblr-1695	857	25	drs	drs	ADJ
cblr-1695	857	26	process	process	NOUN
cblr-1695	857	27	and	and	CCONJ
cblr-1695	857	28	several	several	ADJ
cblr-1695	857	29	other	other	ADJ
cblr-1695	857	30	aspects	aspect	NOUN
cblr-1695	857	31	of	of	ADP
cblr-1695	857	32	the	the	DET
cblr-1695	857	33	jobs	job	NOUN
cblr-1695	857	34	act	act	NOUN
cblr-1695	857	35	that	that	PRON
cblr-1695	857	36	reduce	reduce	VERB
cblr-1695	857	37	the	the	DET
cblr-1695	857	38	level	level	NOUN
cblr-1695	857	39	of	of	ADP
cblr-1695	857	40	required	require	VERB
cblr-1695	857	41	egc	egc	PROPN
cblr-1695	857	42	disclosure.242	disclosure.242	NOUN
cblr-1695	857	43	this	this	DET
cblr-1695	857	44	study	study	NOUN
cblr-1695	857	45	found	find	VERB
cblr-1695	857	46	that	that	SCONJ
cblr-1695	857	47	reducing	reduce	VERB
cblr-1695	857	48	mandatory	mandatory	ADJ
cblr-1695	857	49	239	239	NUM
cblr-1695	857	50	underpricing	underpricing	NOUN
cblr-1695	857	51	is	be	AUX
cblr-1695	857	52	“	"	PUNCT
cblr-1695	857	53	the	the	DET
cblr-1695	857	54	fact	fact	NOUN
cblr-1695	857	55	that	that	SCONJ
cblr-1695	857	56	the	the	DET
cblr-1695	857	57	price	price	NOUN
cblr-1695	857	58	of	of	ADP
cblr-1695	857	59	the	the	DET
cblr-1695	857	60	offered	offer	VERB
cblr-1695	857	61	shares	share	NOUN
cblr-1695	857	62	jumps	jump	VERB
cblr-1695	857	63	substantially	substantially	ADV
cblr-1695	857	64	above	above	ADP
cblr-1695	857	65	the	the	DET
cblr-1695	857	66	offering	offering	NOUN
cblr-1695	857	67	price	price	NOUN
cblr-1695	857	68	during	during	ADP
cblr-1695	857	69	the	the	DET
cblr-1695	857	70	first	first	ADJ
cblr-1695	857	71	day	day	NOUN
cblr-1695	857	72	of	of	ADP
cblr-1695	857	73	trading	trading	NOUN
cblr-1695	857	74	.	.	PUNCT
cblr-1695	857	75	”	"	PUNCT
cblr-1695	858	1	berdejó	berdejó	NOUN
cblr-1695	858	2	,	,	PUNCT
cblr-1695	858	3	supra	supra	PROPN
cblr-1695	858	4	note	note	NOUN
cblr-1695	858	5	121	121	NUM
cblr-1695	858	6	,	,	PUNCT
cblr-1695	858	7	at	at	ADP
cblr-1695	858	8	12	12	NUM
cblr-1695	858	9	.	.	PUNCT
cblr-1695	859	1	this	this	PRON
cblr-1695	859	2	is	be	AUX
cblr-1695	859	3	a	a	DET
cblr-1695	859	4	problem	problem	NOUN
cblr-1695	859	5	for	for	ADP
cblr-1695	859	6	issuers	issuer	NOUN
cblr-1695	859	7	because	because	SCONJ
cblr-1695	859	8	it	it	PRON
cblr-1695	859	9	means	mean	VERB
cblr-1695	859	10	they	they	PRON
cblr-1695	859	11	leave	leave	VERB
cblr-1695	859	12	“	"	PUNCT
cblr-1695	859	13	considerable	considerable	ADJ
cblr-1695	859	14	amounts	amount	NOUN
cblr-1695	859	15	of	of	ADP
cblr-1695	859	16	money	money	NOUN
cblr-1695	859	17	on	on	ADP
cblr-1695	859	18	the	the	DET
cblr-1695	859	19	table	table	NOUN
cblr-1695	859	20	”	"	PUNCT
cblr-1695	859	21	since	since	SCONJ
cblr-1695	859	22	the	the	DET
cblr-1695	859	23	initial	initial	ADJ
cblr-1695	859	24	offer	offer	NOUN
cblr-1695	859	25	price	price	NOUN
cblr-1695	859	26	was	be	AUX
cblr-1695	859	27	not	not	PART
cblr-1695	859	28	set	set	VERB
cblr-1695	859	29	higher	higher	ADV
cblr-1695	859	30	.	.	PUNCT
cblr-1695	860	1	i	i	PRON
cblr-1695	860	2	d.	d.	PROPN
cblr-1695	860	3	240	240	NUM
cblr-1695	860	4	susan	susan	PROPN
cblr-1695	860	5	chaplinsky	chaplinsky	PROPN
cblr-1695	860	6	,	,	PUNCT
cblr-1695	860	7	kathleen	kathleen	PROPN
cblr-1695	860	8	weiss	weiss	PROPN
cblr-1695	860	9	hanley	hanley	PROPN
cblr-1695	860	10	&	&	CCONJ
cblr-1695	860	11	s.	s.	PROPN
cblr-1695	860	12	katie	katie	PROPN
cblr-1695	860	13	moon	moon	PROPN
cblr-1695	860	14	,	,	PUNCT
cblr-1695	860	15	the	the	DET
cblr-1695	860	16	jobs	job	NOUN
cblr-1695	860	17	act	act	VERB
cblr-1695	860	18	and	and	CCONJ
cblr-1695	860	19	the	the	DET
cblr-1695	860	20	costs	cost	NOUN
cblr-1695	860	21	of	of	ADP
cblr-1695	860	22	going	go	VERB
cblr-1695	860	23	public	public	ADJ
cblr-1695	860	24	,	,	PUNCT
cblr-1695	860	25	55	55	NUM
cblr-1695	860	26	j.	j.	PROPN
cblr-1695	860	27	accounting	accounting	NOUN
cblr-1695	860	28	res	re	NOUN
cblr-1695	860	29	.	.	PUNCT
cblr-1695	860	30	795	795	NUM
cblr-1695	860	31	,	,	PUNCT
cblr-1695	860	32	799	799	NUM
cblr-1695	860	33	(	(	PUNCT
cblr-1695	860	34	2017	2017	NUM
cblr-1695	860	35	)	)	PUNCT
cblr-1695	860	36	.	.	PUNCT
cblr-1695	861	1	241	241	NUM
cblr-1695	862	1	i	i	PRON
cblr-1695	862	2	d.	d.	PROPN
cblr-1695	862	3	at	at	ADP
cblr-1695	862	4	828	828	NUM
cblr-1695	862	5	.	.	PUNCT
cblr-1695	863	1	242	242	NUM
cblr-1695	863	2	honigsberg	honigsberg	NOUN
cblr-1695	863	3	et	et	PROPN
cblr-1695	863	4	al	al	PROPN
cblr-1695	863	5	.	.	PROPN
cblr-1695	863	6	,	,	PUNCT
cblr-1695	863	7	supra	supra	PROPN
cblr-1695	863	8	note	note	NOUN
cblr-1695	863	9	115	115	NUM
cblr-1695	863	10	,	,	PUNCT
cblr-1695	863	11	at	at	ADP
cblr-1695	863	12	313	313	NUM
cblr-1695	863	13	.	.	PUNCT
cblr-1695	864	1	although	although	SCONJ
cblr-1695	864	2	the	the	DET
cblr-1695	864	3	confidential	confidential	ADJ
cblr-1695	864	4	drs	drs	ADJ
cblr-1695	864	5	process	process	NOUN
cblr-1695	864	6	results	result	NOUN
cblr-1695	864	7	in	in	ADP
cblr-1695	864	8	issuers	issuer	NOUN
cblr-1695	864	9	“	"	PUNCT
cblr-1695	864	10	eventually	eventually	ADV
cblr-1695	864	11	disclos[ing	disclos[e	VERB
cblr-1695	864	12	]	]	PUNCT
cblr-1695	864	13	the	the	DET
cblr-1695	864	14	same	same	ADJ
cblr-1695	864	15	amount	amount	NOUN
cblr-1695	864	16	of	of	ADP
cblr-1695	864	17	information	information	NOUN
cblr-1695	864	18	”	"	PUNCT
cblr-1695	864	19	as	as	ADP
cblr-1695	864	20	issuers	issuer	NOUN
cblr-1695	864	21	who	who	PRON
cblr-1695	864	22	opt	opt	VERB
cblr-1695	864	23	to	to	PART
cblr-1695	864	24	not	not	PART
cblr-1695	864	25	use	use	VERB
cblr-1695	864	26	the	the	DET
cblr-1695	864	27	confidential	confidential	ADJ
cblr-1695	864	28	process	process	NOUN
cblr-1695	864	29	,	,	PUNCT
cblr-1695	864	30	the	the	DET
cblr-1695	864	31	authors	author	NOUN
cblr-1695	864	32	of	of	ADP
cblr-1695	864	33	this	this	DET
cblr-1695	864	34	study	study	NOUN
cblr-1695	864	35	examined	examine	VERB
cblr-1695	864	36	the	the	DET
cblr-1695	864	37	confidential	confidential	ADJ
cblr-1695	864	38	drs	drs	ADJ
cblr-1695	864	39	process	process	NOUN
cblr-1695	864	40	along	along	ADP
cblr-1695	864	41	with	with	ADP
cblr-1695	864	42	other	other	ADJ
cblr-1695	864	43	jobs	job	NOUN
cblr-1695	864	44	act	act	VERB
cblr-1695	864	45	provisions	provision	NOUN
cblr-1695	864	46	that	that	PRON
cblr-1695	864	47	more	more	ADV
cblr-1695	864	48	directly	directly	ADV
cblr-1695	864	49	reduce	reduce	VERB
cblr-1695	864	50	egc	egc	ADJ
cblr-1695	864	51	disclosure	disclosure	NOUN
cblr-1695	864	52	requirements	requirement	NOUN
cblr-1695	864	53	,	,	PUNCT
cblr-1695	864	54	including	include	VERB
cblr-1695	864	55	the	the	DET
cblr-1695	864	56	ability	ability	NOUN
cblr-1695	864	57	for	for	ADP
cblr-1695	864	58	egcs	egcs	NOUN
cblr-1695	864	59	to	to	PART
cblr-1695	864	60	provide	provide	VERB
cblr-1695	864	61	fewer	few	ADJ
cblr-1695	864	62	than	than	ADP
cblr-1695	864	63	three	three	NUM
cblr-1695	864	64	years	year	NOUN
cblr-1695	864	65	of	of	ADP
cblr-1695	864	66	audited	audit	VERB
cblr-1695	864	67	financial	financial	ADJ
cblr-1695	864	68	statements	statement	NOUN
cblr-1695	864	69	and	and	CCONJ
cblr-1695	864	70	the	the	DET
cblr-1695	864	71	ability	ability	NOUN
cblr-1695	864	72	for	for	SCONJ
cblr-1695	864	73	egcs	egcs	NOUN
cblr-1695	864	74	to	to	PART
cblr-1695	864	75	opt	opt	VERB
cblr-1695	864	76	out	out	ADP
cblr-1695	864	77	of	of	ADP
cblr-1695	864	78	sox	sox	PROPN
cblr-1695	864	79	section	section	NOUN
cblr-1695	864	80	404(b	404(b	NOUN
cblr-1695	864	81	)	)	PUNCT
cblr-1695	864	82	.	.	PUNCT
cblr-1695	865	1	see	see	VERB
cblr-1695	865	2	i	i	PRON
cblr-1695	865	3	d.	d.	PROPN
cblr-1695	865	4	the	the	DET
cblr-1695	865	5	authors	author	NOUN
cblr-1695	865	6	concluded	conclude	VERB
cblr-1695	865	7	that	that	SCONJ
cblr-1695	865	8	the	the	DET
cblr-1695	865	9	confidential	confidential	ADJ
cblr-1695	865	10	drs	drs	ADJ
cblr-1695	865	11	benefit	benefit	NOUN
cblr-1695	865	12	does	do	AUX
cblr-1695	865	13	directly	directly	ADV
cblr-1695	865	14	affect	affect	VERB
cblr-1695	865	15	the	the	DET
cblr-1695	865	16	disclosure	disclosure	NOUN
cblr-1695	865	17	in	in	ADP
cblr-1695	865	18	the	the	DET
cblr-1695	865	19	market	market	NOUN
cblr-1695	865	20	because	because	SCONJ
cblr-1695	865	21	“	"	PUNCT
cblr-1695	865	22	it	it	PRON
cblr-1695	865	23	may	may	AUX
cblr-1695	865	24	severely	severely	ADV
cblr-1695	865	25	limit	limit	VERB
cblr-1695	865	26	the	the	DET
cblr-1695	865	27	amount	amount	NOUN
cblr-1695	865	28	of	of	ADP
cblr-1695	865	29	time	time	NOUN
cblr-1695	865	30	investors	investor	NOUN
cblr-1695	865	31	have	have	VERB
cblr-1695	865	32	to	to	PART
cblr-1695	865	33	process	process	VERB
cblr-1695	865	34	the	the	DET
cblr-1695	865	35	filings	filing	NOUN
cblr-1695	865	36	in	in	ADP
cblr-1695	865	37	question	question	NOUN
cblr-1695	865	38	”	"	PUNCT
cblr-1695	865	39	due	due	ADP
cblr-1695	865	40	to	to	ADP
cblr-1695	865	41	the	the	DET
cblr-1695	865	42	fact	fact	NOUN
cblr-1695	865	43	that	that	SCONJ
cblr-1695	865	44	a	a	DET
cblr-1695	865	45	registration	registration	NOUN
cblr-1695	865	46	statement	statement	NOUN
cblr-1695	865	47	only	only	ADV
cblr-1695	865	48	needs	need	VERB
cblr-1695	865	49	to	to	PART
cblr-1695	865	50	be	be	AUX
cblr-1695	865	51	filed	file	VERB
cblr-1695	865	52	no	no	ADV
cblr-1695	865	53	.	.	PUNCT
cblr-1695	866	1	1:305	1:305	NUM
cblr-1695	866	2	]	]	X
cblr-1695	866	3	going	go	VERB
cblr-1695	866	4	public	public	ADJ
cblr-1695	866	5	secretly	secretly	ADV
cblr-1695	866	6	365	365	NUM
cblr-1695	866	7	disclosure	disclosure	NOUN
cblr-1695	866	8	through	through	ADP
cblr-1695	866	9	the	the	DET
cblr-1695	866	10	confidential	confidential	ADJ
cblr-1695	866	11	drs	drs	ADJ
cblr-1695	866	12	process	process	NOUN
cblr-1695	866	13	and	and	CCONJ
cblr-1695	866	14	other	other	ADJ
cblr-1695	866	15	provisions	provision	NOUN
cblr-1695	866	16	of	of	ADP
cblr-1695	866	17	the	the	DET
cblr-1695	866	18	jobs	job	NOUN
cblr-1695	866	19	act	act	NOUN
cblr-1695	866	20	“	"	PUNCT
cblr-1695	866	21	led	lead	VERB
cblr-1695	866	22	to	to	ADP
cblr-1695	866	23	a	a	DET
cblr-1695	866	24	reduction	reduction	NOUN
cblr-1695	866	25	in	in	ADP
cblr-1695	866	26	trading	trading	NOUN
cblr-1695	866	27	by	by	ADP
cblr-1695	866	28	individual	individual	ADJ
cblr-1695	866	29	investors	investor	NOUN
cblr-1695	866	30	,	,	PUNCT
cblr-1695	866	31	suggesting	suggest	VERB
cblr-1695	866	32	that	that	SCONJ
cblr-1695	866	33	individuals	individual	NOUN
cblr-1695	866	34	prefer	prefer	VERB
cblr-1695	866	35	to	to	PART
cblr-1695	866	36	receive	receive	VERB
cblr-1695	866	37	more	more	ADJ
cblr-1695	866	38	information	information	NOUN
cblr-1695	866	39	under	under	ADP
cblr-1695	866	40	these	these	DET
cblr-1695	866	41	disclosures	disclosure	NOUN
cblr-1695	866	42	rather	rather	ADV
cblr-1695	866	43	than	than	ADP
cblr-1695	866	44	less	less	ADJ
cblr-1695	866	45	.	.	PUNCT
cblr-1695	867	1	”243	”243	PROPN
cblr-1695	867	2	within	within	ADP
cblr-1695	867	3	two	two	NUM
cblr-1695	867	4	weeks	week	NOUN
cblr-1695	867	5	of	of	ADP
cblr-1695	867	6	a	a	DET
cblr-1695	867	7	company	company	NOUN
cblr-1695	867	8	’s	’s	PART
cblr-1695	867	9	ipo	ipo	NOUN
cblr-1695	867	10	,	,	PUNCT
cblr-1695	867	11	however	however	ADV
cblr-1695	867	12	,	,	PUNCT
cblr-1695	867	13	these	these	DET
cblr-1695	867	14	differences	difference	NOUN
cblr-1695	867	15	in	in	ADP
cblr-1695	867	16	individual	individual	ADJ
cblr-1695	867	17	investor	investor	NOUN
cblr-1695	867	18	activity	activity	NOUN
cblr-1695	867	19	had	have	AUX
cblr-1695	867	20	disappeared.244	disappeared.244	NUM
cblr-1695	867	21	nonetheless	nonetheless	ADV
cblr-1695	867	22	,	,	PUNCT
cblr-1695	867	23	the	the	DET
cblr-1695	867	24	fact	fact	NOUN
cblr-1695	867	25	that	that	SCONJ
cblr-1695	867	26	the	the	DET
cblr-1695	867	27	jobs	job	NOUN
cblr-1695	867	28	act	act	VERB
cblr-1695	867	29	allows	allow	VERB
cblr-1695	867	30	institutional	institutional	ADJ
cblr-1695	867	31	investors	investor	NOUN
cblr-1695	867	32	to	to	PART
cblr-1695	867	33	dominate	dominate	VERB
cblr-1695	867	34	the	the	DET
cblr-1695	867	35	market	market	NOUN
cblr-1695	867	36	for	for	ADP
cblr-1695	867	37	the	the	DET
cblr-1695	867	38	first	first	ADJ
cblr-1695	867	39	few	few	ADJ
cblr-1695	867	40	weeks	week	NOUN
cblr-1695	867	41	of	of	ADP
cblr-1695	867	42	an	an	DET
cblr-1695	867	43	ipo	ipo	NOUN
cblr-1695	867	44	is	be	AUX
cblr-1695	867	45	alarming	alarming	ADJ
cblr-1695	867	46	,	,	PUNCT
cblr-1695	867	47	particularly	particularly	ADV
cblr-1695	867	48	because	because	SCONJ
cblr-1695	867	49	of	of	ADP
cblr-1695	867	50	the	the	DET
cblr-1695	867	51	ability	ability	NOUN
cblr-1695	867	52	for	for	SCONJ
cblr-1695	867	53	early	early	ADJ
cblr-1695	867	54	investors	investor	NOUN
cblr-1695	867	55	to	to	PART
cblr-1695	867	56	capitalize	capitalize	VERB
cblr-1695	867	57	on	on	ADP
cblr-1695	867	58	underpricing.245	underpricing.245	PROPN
cblr-1695	867	59	the	the	DET
cblr-1695	867	60	high	high	ADJ
cblr-1695	867	61	returns	return	NOUN
cblr-1695	867	62	that	that	PRON
cblr-1695	867	63	often	often	ADV
cblr-1695	867	64	accompany	accompany	VERB
cblr-1695	867	65	the	the	DET
cblr-1695	867	66	first	first	ADJ
cblr-1695	867	67	day	day	NOUN
cblr-1695	867	68	of	of	ADP
cblr-1695	867	69	an	an	DET
cblr-1695	867	70	ipo	ipo	NOUN
cblr-1695	867	71	“	"	PUNCT
cblr-1695	867	72	are	be	AUX
cblr-1695	867	73	favorable	favorable	ADJ
cblr-1695	867	74	for	for	ADP
cblr-1695	867	75	the	the	DET
cblr-1695	867	76	initial	initial	ADJ
cblr-1695	867	77	ipo	ipo	NOUN
cblr-1695	867	78	investors	investor	NOUN
cblr-1695	867	79	—	—	PUNCT
cblr-1695	867	80	who	who	PRON
cblr-1695	867	81	are	be	AUX
cblr-1695	867	82	able	able	ADJ
cblr-1695	867	83	to	to	PART
cblr-1695	867	84	purchase	purchase	VERB
cblr-1695	867	85	the	the	DET
cblr-1695	867	86	ipo	ipo	NOUN
cblr-1695	867	87	shares	share	NOUN
cblr-1695	867	88	at	at	ADP
cblr-1695	867	89	the	the	DET
cblr-1695	867	90	offering	offering	NOUN
cblr-1695	867	91	price	price	NOUN
cblr-1695	867	92	and	and	CCONJ
cblr-1695	867	93	immediately	immediately	ADV
cblr-1695	867	94	resell	resell	VERB
cblr-1695	867	95	them	they	PRON
cblr-1695	867	96	in	in	ADP
cblr-1695	867	97	the	the	DET
cblr-1695	867	98	secondary	secondary	ADJ
cblr-1695	867	99	market	market	NOUN
cblr-1695	867	100	at	at	ADP
cblr-1695	867	101	a	a	DET
cblr-1695	867	102	higher	high	ADJ
cblr-1695	867	103	price[.]”246	price[.]”246	NOUN
cblr-1695	867	104	the	the	DET
cblr-1695	867	105	results	result	NOUN
cblr-1695	867	106	of	of	ADP
cblr-1695	867	107	the	the	DET
cblr-1695	867	108	jackson	jackson	PROPN
cblr-1695	867	109	et	et	PROPN
cblr-1695	867	110	al	al	PROPN
cblr-1695	867	111	.	.	PROPN
cblr-1695	867	112	study	study	PROPN
cblr-1695	867	113	suggest	suggest	VERB
cblr-1695	867	114	that	that	SCONJ
cblr-1695	867	115	individual	individual	ADJ
cblr-1695	867	116	investors	investor	NOUN
cblr-1695	867	117	are	be	AUX
cblr-1695	867	118	shut	shut	VERB
cblr-1695	867	119	out	out	ADP
cblr-1695	867	120	from	from	ADP
cblr-1695	867	121	this	this	DET
cblr-1695	867	122	opportunity	opportunity	NOUN
cblr-1695	867	123	,	,	PUNCT
cblr-1695	867	124	which	which	PRON
cblr-1695	867	125	is	be	AUX
cblr-1695	867	126	instead	instead	ADV
cblr-1695	867	127	dominated	dominate	VERB
cblr-1695	867	128	by	by	ADP
cblr-1695	867	129	institutional	institutional	ADJ
cblr-1695	867	130	investors	investor	NOUN
cblr-1695	867	131	,	,	PUNCT
cblr-1695	867	132	in	in	ADP
cblr-1695	867	133	part	part	NOUN
cblr-1695	867	134	,	,	PUNCT
cblr-1695	867	135	because	because	SCONJ
cblr-1695	867	136	of	of	ADP
cblr-1695	867	137	the	the	DET
cblr-1695	867	138	jobs	job	NOUN
cblr-1695	867	139	act	act	PROPN
cblr-1695	867	140	’s	’s	PART
cblr-1695	867	141	confidential	confidential	ADJ
cblr-1695	867	142	drs	drs	ADJ
cblr-1695	867	143	process	process	NOUN
cblr-1695	867	144	.	.	PUNCT
cblr-1695	868	1	“	"	PUNCT
cblr-1695	868	2	mandatory	mandatory	ADJ
cblr-1695	868	3	disclosure	disclosure	NOUN
cblr-1695	868	4	is	be	AUX
cblr-1695	868	5	the	the	DET
cblr-1695	868	6	cornerstone	cornerstone	NOUN
cblr-1695	868	7	of	of	ADP
cblr-1695	868	8	federal	federal	ADJ
cblr-1695	868	9	securities	security	NOUN
cblr-1695	868	10	laws	law	NOUN
cblr-1695	868	11	.	.	PUNCT
cblr-1695	869	1	”247	”247	PUNCT
cblr-1695	869	2	in	in	ADP
cblr-1695	869	3	general	general	ADJ
cblr-1695	869	4	,	,	PUNCT
cblr-1695	869	5	disclosing	disclose	VERB
cblr-1695	869	6	issuer	issuer	ADJ
cblr-1695	869	7	information	information	NOUN
cblr-1695	869	8	is	be	AUX
cblr-1695	869	9	“	"	PUNCT
cblr-1695	869	10	socially	socially	ADV
cblr-1695	869	11	desirable	desirable	ADJ
cblr-1695	869	12	to	to	ADP
cblr-1695	869	13	the	the	DET
cblr-1695	869	14	extent	extent	NOUN
cblr-1695	869	15	it	it	PRON
cblr-1695	869	16	bridges	bridge	VERB
cblr-1695	869	17	informational	informational	ADJ
cblr-1695	869	18	asymmetries	asymmetry	NOUN
cblr-1695	869	19	between	between	ADP
cblr-1695	869	20	the	the	DET
cblr-1695	869	21	issuer	issuer	NOUN
cblr-1695	869	22	(	(	PUNCT
cblr-1695	869	23	and	and	CCONJ
cblr-1695	869	24	its	its	PRON
cblr-1695	869	25	insiders	insider	NOUN
cblr-1695	869	26	)	)	PUNCT
cblr-1695	869	27	and	and	CCONJ
cblr-1695	869	28	the	the	DET
cblr-1695	869	29	market	market	NOUN
cblr-1695	869	30	.	.	PUNCT
cblr-1695	869	31	”248	”248	PUNCT
cblr-1695	870	1	however	however	ADV
cblr-1695	870	2	,	,	PUNCT
cblr-1695	870	3	the	the	DET
cblr-1695	870	4	confidential	confidential	ADJ
cblr-1695	870	5	drs	drs	ADJ
cblr-1695	870	6	process	process	NOUN
cblr-1695	870	7	—	—	PUNCT
cblr-1695	870	8	created	create	VERB
cblr-1695	870	9	first	first	ADV
cblr-1695	870	10	by	by	ADP
cblr-1695	870	11	the	the	DET
cblr-1695	870	12	jobs	job	NOUN
cblr-1695	870	13	act	act	NOUN
cblr-1695	870	14	and	and	CCONJ
cblr-1695	870	15	extended	extend	VERB
cblr-1695	870	16	by	by	ADP
cblr-1695	870	17	the	the	DET
cblr-1695	870	18	july	july	PROPN
cblr-1695	870	19	2017	2017	NUM
cblr-1695	870	20	change	change	NOUN
cblr-1695	870	21	—	—	PUNCT
cblr-1695	870	22	delays	delay	VERB
cblr-1695	870	23	disclosure	disclosure	NOUN
cblr-1695	870	24	requirements	requirement	NOUN
cblr-1695	870	25	for	for	ADP
cblr-1695	870	26	issuers	issuer	NOUN
cblr-1695	870	27	.	.	PUNCT
cblr-1695	871	1	because	because	SCONJ
cblr-1695	871	2	this	this	DET
cblr-1695	871	3	process	process	NOUN
cblr-1695	871	4	does	do	AUX
cblr-1695	871	5	not	not	PART
cblr-1695	871	6	bring	bring	VERB
cblr-1695	871	7	about	about	ADP
cblr-1695	871	8	any	any	DET
cblr-1695	871	9	meaningful	meaningful	ADJ
cblr-1695	871	10	net	net	ADJ
cblr-1695	871	11	gain	gain	NOUN
cblr-1695	871	12	for	for	ADP
cblr-1695	871	13	society	society	NOUN
cblr-1695	871	14	in	in	ADP
cblr-1695	871	15	terms	term	NOUN
cblr-1695	871	16	of	of	ADP
cblr-1695	871	17	increased	increase	VERB
cblr-1695	871	18	ipos	ipos	NOUN
cblr-1695	871	19	,	,	PUNCT
cblr-1695	871	20	but	but	CCONJ
cblr-1695	871	21	instead	instead	ADV
cblr-1695	871	22	has	have	AUX
cblr-1695	871	23	produced	produce	VERB
cblr-1695	871	24	several	several	ADJ
cblr-1695	871	25	negative	negative	ADJ
cblr-1695	871	26	results	result	NOUN
cblr-1695	871	27	,	,	PUNCT
cblr-1695	871	28	it	it	PRON
cblr-1695	871	29	should	should	AUX
cblr-1695	871	30	be	be	AUX
cblr-1695	871	31	abolished	abolish	VERB
cblr-1695	871	32	in	in	ADP
cblr-1695	871	33	favor	favor	NOUN
cblr-1695	871	34	of	of	ADP
cblr-1695	871	35	a	a	DET
cblr-1695	871	36	return	return	NOUN
cblr-1695	871	37	to	to	PART
cblr-1695	871	38	complete	complete	VERB
cblr-1695	871	39	investor	investor	NOUN
cblr-1695	871	40	transparency	transparency	NOUN
cblr-1695	871	41	in	in	ADP
cblr-1695	871	42	accordance	accordance	NOUN
cblr-1695	871	43	with	with	ADP
cblr-1695	871	44	the	the	DET
cblr-1695	871	45	principals	principal	NOUN
cblr-1695	871	46	of	of	ADP
cblr-1695	871	47	the	the	DET
cblr-1695	871	48	1933	1933	NUM
cblr-1695	871	49	act	act	NOUN
cblr-1695	871	50	.	.	PUNCT
cblr-1695	872	1	fifteen	fifteen	NUM
cblr-1695	872	2	days	day	NOUN
cblr-1695	872	3	before	before	ADP
cblr-1695	872	4	the	the	DET
cblr-1695	872	5	firm	firm	NOUN
cblr-1695	872	6	’s	’s	PART
cblr-1695	872	7	first	first	ADJ
cblr-1695	872	8	road	road	NOUN
cblr-1695	872	9	show	show	NOUN
cblr-1695	872	10	.	.	PUNCT
cblr-1695	873	1	i	i	PRON
cblr-1695	873	2	d.	d.	PROPN
cblr-1695	873	3	at	at	ADP
cblr-1695	873	4	313	313	NUM
cblr-1695	873	5	,	,	PUNCT
cblr-1695	873	6	313	313	NUM
cblr-1695	873	7	n.65	n.65	ADP
cblr-1695	873	8	;	;	PUNCT
cblr-1695	873	9	see	see	VERB
cblr-1695	873	10	also	also	ADV
cblr-1695	873	11	supra	supra	ADJ
cblr-1695	873	12	note	note	NOUN
cblr-1695	873	13	83	83	NUM
cblr-1695	873	14	and	and	CCONJ
cblr-1695	873	15	accompanying	accompany	VERB
cblr-1695	873	16	text	text	NOUN
cblr-1695	873	17	.	.	PUNCT
cblr-1695	874	1	243	243	NUM
cblr-1695	874	2	honigsberg	honigsberg	PROPN
cblr-1695	874	3	et	et	PROPN
cblr-1695	874	4	al	al	PROPN
cblr-1695	874	5	.	.	PROPN
cblr-1695	874	6	,	,	PUNCT
cblr-1695	874	7	supra	supra	PROPN
cblr-1695	874	8	note	note	NOUN
cblr-1695	874	9	115	115	NUM
cblr-1695	874	10	,	,	PUNCT
cblr-1695	874	11	at	at	ADP
cblr-1695	874	12	304	304	NUM
cblr-1695	874	13	.	.	PUNCT
cblr-1695	875	1	244	244	NUM
cblr-1695	875	2	see	see	VERB
cblr-1695	875	3	i	i	PRON
cblr-1695	875	4	d.	d.	PROPN
cblr-1695	875	5	at	at	ADP
cblr-1695	875	6	304–05	304–05	NUM
cblr-1695	875	7	.	.	PUNCT
cblr-1695	876	1	245	245	NUM
cblr-1695	876	2	see	see	VERB
cblr-1695	876	3	supra	supra	PROPN
cblr-1695	876	4	note	note	PROPN
cblr-1695	876	5	239	239	NUM
cblr-1695	876	6	.	.	PUNCT
cblr-1695	876	7	246	246	NUM
cblr-1695	876	8	berdejó	berdejó	NOUN
cblr-1695	876	9	,	,	PUNCT
cblr-1695	876	10	supra	supra	PROPN
cblr-1695	876	11	note	note	NOUN
cblr-1695	876	12	121	121	NUM
cblr-1695	876	13	,	,	PUNCT
cblr-1695	876	14	at	at	ADP
cblr-1695	876	15	12	12	NUM
cblr-1695	876	16	.	.	PUNCT
cblr-1695	877	1	247	247	NUM
cblr-1695	877	2	honigsberg	honigsberg	NOUN
cblr-1695	877	3	et	et	PROPN
cblr-1695	877	4	al	al	PROPN
cblr-1695	877	5	.	.	PROPN
cblr-1695	877	6	,	,	PUNCT
cblr-1695	877	7	supra	supra	PROPN
cblr-1695	877	8	note	note	NOUN
cblr-1695	877	9	115	115	NUM
cblr-1695	877	10	,	,	PUNCT
cblr-1695	877	11	at	at	ADP
cblr-1695	877	12	295	295	NUM
cblr-1695	877	13	.	.	PUNCT
cblr-1695	878	1	248	248	NUM
cblr-1695	878	2	berdejó	berdejó	NOUN
cblr-1695	878	3	,	,	PUNCT
cblr-1695	878	4	supra	supra	PROPN
cblr-1695	878	5	note	note	NOUN
cblr-1695	878	6	121	121	NUM
cblr-1695	878	7	,	,	PUNCT
cblr-1695	878	8	at	at	ADP
cblr-1695	878	9	17	17	NUM
cblr-1695	878	10	.	.	PUNCT
cblr-1695	879	1	366	366	NUM
cblr-1695	879	2	columbia	columbia	PROPN
cblr-1695	879	3	business	business	NOUN
cblr-1695	879	4	law	law	PROPN
cblr-1695	879	5	review	review	NOUN
cblr-1695	879	6	[	[	X
cblr-1695	879	7	vol	vol	NOUN
cblr-1695	879	8	.	.	PUNCT
cblr-1695	879	9	2019	2019	NUM
cblr-1695	879	10	vi	vi	NOUN
cblr-1695	879	11	.	.	PROPN
cblr-1695	879	12	conclusion	conclusion	NOUN
cblr-1695	879	13	the	the	DET
cblr-1695	879	14	sec	sec	PROPN
cblr-1695	879	15	’s	’s	PART
cblr-1695	879	16	expansion	expansion	NOUN
cblr-1695	879	17	of	of	ADP
cblr-1695	879	18	the	the	DET
cblr-1695	879	19	confidential	confidential	ADJ
cblr-1695	879	20	drs	drs	ADJ
cblr-1695	879	21	process	process	NOUN
cblr-1695	879	22	to	to	AUX
cblr-1695	879	23	non	non	ADJ
cblr-1695	879	24	-	-	VERB
cblr-1695	879	25	egcs	egcs	ADJ
cblr-1695	879	26	through	through	ADP
cblr-1695	879	27	the	the	DET
cblr-1695	879	28	july	july	PROPN
cblr-1695	879	29	2017	2017	NUM
cblr-1695	879	30	change	change	NOUN
cblr-1695	879	31	intended	intend	VERB
cblr-1695	879	32	to	to	PART
cblr-1695	879	33	increase	increase	VERB
cblr-1695	879	34	the	the	DET
cblr-1695	879	35	number	number	NOUN
cblr-1695	879	36	of	of	ADP
cblr-1695	879	37	ipos	ipos	NOUN
cblr-1695	879	38	in	in	ADP
cblr-1695	879	39	the	the	DET
cblr-1695	879	40	marketplace	marketplace	NOUN
cblr-1695	879	41	.	.	PUNCT
cblr-1695	880	1	however	however	ADV
cblr-1695	880	2	,	,	PUNCT
cblr-1695	880	3	the	the	DET
cblr-1695	880	4	results	result	NOUN
cblr-1695	880	5	of	of	ADP
cblr-1695	880	6	the	the	DET
cblr-1695	880	7	empirical	empirical	ADJ
cblr-1695	880	8	study	study	NOUN
cblr-1695	880	9	conducted	conduct	VERB
cblr-1695	880	10	by	by	ADP
cblr-1695	880	11	the	the	DET
cblr-1695	880	12	author	author	NOUN
cblr-1695	880	13	of	of	ADP
cblr-1695	880	14	this	this	DET
cblr-1695	880	15	note	note	NOUN
cblr-1695	880	16	indicate	indicate	VERB
cblr-1695	880	17	that	that	SCONJ
cblr-1695	880	18	the	the	DET
cblr-1695	880	19	change	change	NOUN
cblr-1695	880	20	has	have	AUX
cblr-1695	880	21	not	not	PART
cblr-1695	880	22	yet	yet	ADV
cblr-1695	880	23	had	have	VERB
cblr-1695	880	24	any	any	DET
cblr-1695	880	25	noticeable	noticeable	ADJ
cblr-1695	880	26	effect	effect	NOUN
cblr-1695	880	27	on	on	ADP
cblr-1695	880	28	ipo	ipo	NOUN
cblr-1695	880	29	activity	activity	NOUN
cblr-1695	880	30	.	.	PUNCT
cblr-1695	881	1	it	it	PRON
cblr-1695	881	2	likely	likely	ADV
cblr-1695	881	3	never	never	ADV
cblr-1695	881	4	will	will	AUX
cblr-1695	881	5	.	.	PUNCT
cblr-1695	882	1	although	although	SCONJ
cblr-1695	882	2	non	non	ADJ
cblr-1695	882	3	-	-	ADJ
cblr-1695	882	4	egcs	egcs	ADJ
cblr-1695	882	5	offer	offer	NOUN
cblr-1695	882	6	value	value	NOUN
cblr-1695	882	7	to	to	ADP
cblr-1695	882	8	the	the	DET
cblr-1695	882	9	public	public	ADJ
cblr-1695	882	10	markets	market	NOUN
cblr-1695	882	11	due	due	ADP
cblr-1695	882	12	to	to	ADP
cblr-1695	882	13	the	the	DET
cblr-1695	882	14	large	large	ADJ
cblr-1695	882	15	amount	amount	NOUN
cblr-1695	882	16	of	of	ADP
cblr-1695	882	17	capital	capital	NOUN
cblr-1695	882	18	their	their	PRON
cblr-1695	882	19	ipos	ipos	NOUN
cblr-1695	882	20	raise	raise	NOUN
cblr-1695	882	21	,	,	PUNCT
cblr-1695	882	22	there	there	PRON
cblr-1695	882	23	simply	simply	ADV
cblr-1695	882	24	are	be	AUX
cblr-1695	882	25	not	not	PART
cblr-1695	882	26	enough	enough	ADJ
cblr-1695	882	27	firms	firm	NOUN
cblr-1695	882	28	of	of	ADP
cblr-1695	882	29	this	this	DET
cblr-1695	882	30	size	size	NOUN
cblr-1695	882	31	to	to	PART
cblr-1695	882	32	cause	cause	VERB
cblr-1695	882	33	a	a	DET
cblr-1695	882	34	meaningful	meaningful	ADJ
cblr-1695	882	35	increase	increase	NOUN
cblr-1695	882	36	in	in	ADP
cblr-1695	882	37	ipo	ipo	NOUN
cblr-1695	882	38	volume	volume	NOUN
cblr-1695	882	39	.	.	PUNCT
cblr-1695	883	1	moreover	moreover	ADV
cblr-1695	883	2	,	,	PUNCT
cblr-1695	883	3	minor	minor	ADJ
cblr-1695	883	4	changes	change	NOUN
cblr-1695	883	5	to	to	ADP
cblr-1695	883	6	the	the	DET
cblr-1695	883	7	process	process	NOUN
cblr-1695	883	8	of	of	ADP
cblr-1695	883	9	going	go	VERB
cblr-1695	883	10	public	public	ADJ
cblr-1695	883	11	will	will	AUX
cblr-1695	883	12	simply	simply	ADV
cblr-1695	883	13	not	not	PART
cblr-1695	883	14	effectuate	effectuate	VERB
cblr-1695	883	15	the	the	DET
cblr-1695	883	16	increase	increase	NOUN
cblr-1695	883	17	in	in	ADP
cblr-1695	883	18	public	public	ADJ
cblr-1695	883	19	companies	company	NOUN
cblr-1695	883	20	the	the	DET
cblr-1695	883	21	sec	sec	PROPN
cblr-1695	883	22	seeks	seek	VERB
cblr-1695	883	23	.	.	PUNCT
cblr-1695	884	1	if	if	SCONJ
cblr-1695	884	2	the	the	DET
cblr-1695	884	3	sec	sec	PROPN
cblr-1695	884	4	is	be	AUX
cblr-1695	884	5	serious	serious	ADJ
cblr-1695	884	6	about	about	ADP
cblr-1695	884	7	revitalizing	revitalize	VERB
cblr-1695	884	8	the	the	DET
cblr-1695	884	9	capital	capital	NOUN
cblr-1695	884	10	markets	market	NOUN
cblr-1695	884	11	,	,	PUNCT
cblr-1695	884	12	the	the	DET
cblr-1695	884	13	answer	answer	NOUN
cblr-1695	884	14	is	be	AUX
cblr-1695	884	15	not	not	PART
cblr-1695	884	16	to	to	PART
cblr-1695	884	17	expand	expand	VERB
cblr-1695	884	18	the	the	DET
cblr-1695	884	19	private	private	ADJ
cblr-1695	884	20	markets	market	NOUN
cblr-1695	884	21	,	,	PUNCT
cblr-1695	884	22	which	which	PRON
cblr-1695	884	23	largely	largely	ADV
cblr-1695	884	24	operate	operate	VERB
cblr-1695	884	25	out	out	ADP
cblr-1695	884	26	of	of	ADP
cblr-1695	884	27	the	the	DET
cblr-1695	884	28	reach	reach	NOUN
cblr-1695	884	29	of	of	ADP
cblr-1695	884	30	securities	security	NOUN
cblr-1695	884	31	disclosure	disclosure	NOUN
cblr-1695	884	32	laws	law	NOUN
cblr-1695	884	33	.	.	PUNCT
cblr-1695	885	1	instead	instead	ADV
cblr-1695	885	2	,	,	PUNCT
cblr-1695	885	3	the	the	DET
cblr-1695	885	4	agency	agency	NOUN
cblr-1695	885	5	must	must	AUX
cblr-1695	885	6	work	work	VERB
cblr-1695	885	7	with	with	ADP
cblr-1695	885	8	congress	congress	PROPN
cblr-1695	885	9	to	to	PART
cblr-1695	885	10	ensure	ensure	VERB
cblr-1695	885	11	that	that	SCONJ
cblr-1695	885	12	being	be	AUX
cblr-1695	885	13	a	a	DET
cblr-1695	885	14	public	public	ADJ
cblr-1695	885	15	company	company	NOUN
cblr-1695	885	16	is	be	AUX
cblr-1695	885	17	not	not	PART
cblr-1695	885	18	a	a	DET
cblr-1695	885	19	burden	burden	NOUN
cblr-1695	885	20	,	,	PUNCT
cblr-1695	885	21	but	but	CCONJ
cblr-1695	885	22	instead	instead	ADV
cblr-1695	885	23	is	be	AUX
cblr-1695	885	24	the	the	DET
cblr-1695	885	25	best	good	ADJ
cblr-1695	885	26	option	option	NOUN
cblr-1695	885	27	for	for	ADP
cblr-1695	885	28	an	an	DET
cblr-1695	885	29	american	american	ADJ
cblr-1695	885	30	company	company	NOUN
cblr-1695	885	31	in	in	ADP
cblr-1695	885	32	need	need	NOUN
cblr-1695	885	33	of	of	ADP
cblr-1695	885	34	capital	capital	NOUN
cblr-1695	885	35	.	.	PUNCT
cblr-1695	886	1	patrick	patrick	PROPN
cblr-1695	886	2	j.	j.	PROPN
cblr-1695	886	3	gallagher	gallagher	PROPN
cblr-1695	886	4	*	*	PROPN
cblr-1695	886	5	i.	i.	PROPN
cblr-1695	886	6	introduction	introduction	PROPN
cblr-1695	886	7	ii	ii	PROPN
cblr-1695	886	8	.	.	PUNCT
cblr-1695	887	1	background	background	NOUN
cblr-1695	887	2	on	on	ADP
cblr-1695	887	3	initial	initial	ADJ
cblr-1695	887	4	public	public	ADJ
cblr-1695	887	5	offerings	offering	NOUN
cblr-1695	887	6	and	and	CCONJ
cblr-1695	887	7	securities	security	NOUN
cblr-1695	887	8	regulation	regulation	NOUN
cblr-1695	887	9	1	1	NUM
cblr-1695	887	10	.	.	PUNCT
cblr-1695	888	1	the	the	DET
cblr-1695	888	2	advantages	advantage	NOUN
cblr-1695	888	3	of	of	ADP
cblr-1695	888	4	an	an	DET
cblr-1695	888	5	ipo	ipo	NOUN
cblr-1695	888	6	2	2	NUM
cblr-1695	888	7	.	.	PUNCT
cblr-1695	889	1	the	the	DET
cblr-1695	889	2	disadvantages	disadvantage	NOUN
cblr-1695	889	3	of	of	ADP
cblr-1695	889	4	an	an	DET
cblr-1695	889	5	ipo	ipo	NOUN
cblr-1695	889	6	3	3	NUM
cblr-1695	889	7	.	.	PUNCT
cblr-1695	889	8	alternatives	alternative	NOUN
cblr-1695	889	9	to	to	ADP
cblr-1695	889	10	an	an	DET
cblr-1695	889	11	ipo	ipo	PROPN
cblr-1695	889	12	iii	iii	PROPN
cblr-1695	889	13	.	.	PUNCT
cblr-1695	890	1	the	the	DET
cblr-1695	890	2	effect	effect	NOUN
cblr-1695	890	3	of	of	ADP
cblr-1695	890	4	the	the	DET
cblr-1695	890	5	confidential	confidential	ADJ
cblr-1695	890	6	draft	draft	NOUN
cblr-1695	890	7	registration	registration	NOUN
cblr-1695	890	8	process	process	NOUN
cblr-1695	890	9	on	on	ADP
cblr-1695	890	10	ipo	ipo	NOUN
cblr-1695	890	11	activity	activity	NOUN
cblr-1695	890	12	i.	i.	NOUN
cblr-1695	890	13	framework	framework	NOUN
cblr-1695	890	14	a	a	DET
cblr-1695	890	15	:	:	PUNCT
cblr-1695	890	16	total	total	ADJ
cblr-1695	890	17	ipo	ipo	NOUN
cblr-1695	890	18	activity	activity	NOUN
cblr-1695	890	19	table	table	NOUN
cblr-1695	890	20	1	1	NUM
cblr-1695	890	21	:	:	PUNCT
cblr-1695	890	22	egc	egc	PROPN
cblr-1695	890	23	,	,	PUNCT
cblr-1695	890	24	non	non	ADJ
cblr-1695	890	25	-	-	ADJ
cblr-1695	890	26	egc	egc	ADJ
cblr-1695	890	27	,	,	PUNCT
cblr-1695	890	28	and	and	CCONJ
cblr-1695	890	29	total	total	ADJ
cblr-1695	890	30	ipos	ipos	PROPN
cblr-1695	890	31	ii	ii	PROPN
cblr-1695	890	32	.	.	PUNCT
cblr-1695	891	1	framework	framework	PROPN
cblr-1695	891	2	b	b	NOUN
cblr-1695	891	3	:	:	PUNCT
cblr-1695	891	4	non	non	ADJ
cblr-1695	891	5	-	-	ADJ
cblr-1695	891	6	egc	egc	ADJ
cblr-1695	891	7	use	use	NOUN
cblr-1695	891	8	of	of	ADP
cblr-1695	891	9	confidential	confidential	ADJ
cblr-1695	891	10	filing	filing	NOUN
cblr-1695	891	11	iii	iii	PROPN
cblr-1695	891	12	.	.	PUNCT
cblr-1695	891	13	framework	framework	PROPN
cblr-1695	892	1	c	c	X
cblr-1695	892	2	:	:	PUNCT
cblr-1695	892	3	ipo	ipo	NOUN
cblr-1695	892	4	activity	activity	NOUN
cblr-1695	892	5	before	before	ADV
cblr-1695	892	6	and	and	CCONJ
cblr-1695	892	7	after	after	ADP
cblr-1695	892	8	the	the	DET
cblr-1695	892	9	july	july	PROPN
cblr-1695	892	10	2017	2017	NUM
cblr-1695	892	11	change	change	NOUN
cblr-1695	892	12	iv	iv	NUM
cblr-1695	892	13	.	.	PUNCT
cblr-1695	893	1	the	the	DET
cblr-1695	893	2	inherent	inherent	ADJ
cblr-1695	893	3	flaws	flaw	NOUN
cblr-1695	893	4	of	of	ADP
cblr-1695	893	5	the	the	DET
cblr-1695	893	6	sec	sec	PROPN
cblr-1695	893	7	’s	’s	PART
cblr-1695	893	8	approach	approach	NOUN
cblr-1695	893	9	to	to	ADP
cblr-1695	893	10	increasing	increase	VERB
cblr-1695	893	11	ipos	ipos	NOUN
cblr-1695	893	12	table	table	NOUN
cblr-1695	893	13	7	7	NUM
cblr-1695	893	14	:	:	PUNCT
cblr-1695	893	15	capital	capital	NOUN
cblr-1695	893	16	raised	raise	VERB
cblr-1695	893	17	by	by	ADP
cblr-1695	893	18	egc	egc	ADJ
cblr-1695	893	19	and	and	CCONJ
cblr-1695	893	20	non	non	ADJ
cblr-1695	893	21	-	-	ADJ
cblr-1695	893	22	egc	egc	ADJ
cblr-1695	893	23	ipos	ipos	NOUN
cblr-1695	893	24	v.	v.	ADP
cblr-1695	893	25	proposals	proposal	NOUN
cblr-1695	893	26	for	for	ADP
cblr-1695	893	27	increasing	increase	VERB
cblr-1695	893	28	ipo	ipo	NOUN
cblr-1695	893	29	activity	activity	NOUN
cblr-1695	893	30	vi	vi	PROPN
cblr-1695	893	31	.	.	PUNCT
cblr-1695	893	32	conclusion	conclusion	NOUN