Does it have to be a "private" placement. Can the company offer a "placement"(if that is still the right term), to anyone who is interested. Even if those interested then have to be determined to be accredited is ok to solicit the "public" to raise new funds.
Then, if there is a mechanism to do this... the question for the company would be...
Why didn't the company at least try this approach before giving up the bib.
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