It Is Called an Underwritten Offer If

It is called an underwritten offer if

A) the risk of selling the issue at a price higher than that promised to the issuer is borne by the investment bank.
B) the difference between the price at which the issue is sold and that promised to the issuer represents the underwriting spread or the profit earned by the investment bank.
C) the investment bank guarantees the issuing firm a certain price.
D) both a and b
E) all of the above