In a best efforts arrangement,the investment bank pledges to use its best efforts to sell all the authorized shares and takes a cut on each individual share that it sells,but provides no guarantee as to how many shares it will sell.

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In a best efforts arrangement, the investment bank does not provide any guarantee as to how many shares it will sell but pledges to use its best efforts to sell all the authorized shares and takes a cut on each individual share that it sells.

In a Best Efforts Arrangement,the Investment Bank Pledges to Use