Reynolds,Inc.needs to raise $5 million by selling common stock.Reynolds sells 1 million shares of stock at $5 each to Goldman Sachs,who then is responsible for selling the shares to investors.This is an example of a

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This is an example of a negotiated purchase, where Reynolds, Inc. directly sells a specific number of shares at a set price to Goldman Sachs, who then takes on the responsibility of selling these shares to investors. This contrasts with other methods such as a best-efforts agreement where the intermediary would sell shares without guaranteeing the total amount raised.