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One reason it is so difficult to maintain infrastructure in California is that
IPOs
Initial Public Offerings, the process by which a private company offers shares to the public for the first time.
Issuing Securities
The process by which a corporate entity raises capital by distributing new stocks, bonds, or other financial instruments to investors.
Direct Private Long-term Debt Financing
A financing method where businesses borrow money directly from private investors or institutions under long-term agreements, without going through public markets.
Public Issues
Securities or debts that are offered to the public in an initial offering.
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