Which of the following benefits does an investor gain by investing in a private investment in public equity (PIPE) deal?

While PIPE securities can eventually become liquid once registered for public trading, they are often illiquid at the time of purchase. Investors may face restrictions on selling these securities immediately, thus liquidity cannot be guaranteed in the early stages of a PIPE investment.

PIPE deals are primarily targeted at accredited investors and institutional buyers rather than being available to the general public. This means that not all investors can participate in these offerings, as they often require specific qualifications.

There is no guarantee from the issuer regarding the price of the securities until they are publicly traded. The initial price at which securities are sold in a PIPE is set at a discount, but it is subject to market fluctuations once they are publicly available, and the issuer does not lock in the price for future sales.