KKR is being pretty active in finding PIPE candidates...some links worth reading... They actually completed a RM to go public in 2009. 21% of of the company was traded, and 79% was held by partners. PASO float ~164MM divided by 750MM is ~21%. https://www.cnbc.com/2020/03/25/private-equity-eyes-coronavirus-hit-industries-theyve-been-waiting.html https://www.institutionalinvestor.com/article/b1l025w02kcylv/Private-Equity-Will-Go-After-Listed-Companies-And-Corporations-Will-Welcome-It