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ML Underwriters Paid an Issuer $37,694,528 as IPO Proceeds

Question 70

Multiple Choice

ML Underwriters paid an issuer $37,694,528 as IPO proceeds.The IPO offered 1.86 million shares of which 1.835 million were sold at an offer price of $21.85 a share.The underwriting spread was 7.25 percent.What type of underwriting was this?


A) best efforts
B) variable
C) firm commitment
D) plain vanilla
E) stand-by

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