What is the Exit Strategy?
Going public? Once you understand the complexity, cost, and listing requirements of being a public company, you will know why it isn’t a valid option.
For more information: Google NASDAQ/FINRA listing requirements.
Your likely EXIT strategy is selling the company as an asset sale to another larger competitor. Perhaps someone who can use your operation in a vertical integration strategy. Almost all acquiring companies will require any purchase to be an asset purchase, not a share purchase. That is, your company sells its assets, payment for the assets is made to the company, and then the company distributes the payment to its shareholders/unitholders. If you are organized as a corporation, you will pay double tax. An LLC would be subject to just one tax. It is a very costly decision if the wrong decision is made.
Also, many States will allow an LLC to convert to a corporation by filling out a single form. Check your state’s regulation on this to consider it in your decision-making.