Lewis Materials recently offered 15,000 shares of stock but received payment for only 12,500 shares since that was all the shares the underwriters could sell.What type of underwriting was this?

Question

Quizplus · Accepted Answer

In a "best efforts" underwriting, the underwriter does not guarantee the sale of all the shares but instead agrees to sell as much as possible, returning any unsold shares to the issuer.

Lewis Materials Recently Offered 15,000 Shares of Stock but Received