Which of the Following Statements Is FALSE

Which of the following statements is FALSE?

A) Usually, profitable growth opportunities occur throughout the life of the firm, and in some cases it is not feasible to finance these opportunities out of retained earnings.
B) A firm's need for outside capital usually ends at the IPO.
C) More often than not, firms return to the equity markets and offer new shares for sale, a type of offering called a seasoned equity offering (SEO) .
D) When a firm issues shares using an SEO, it follows many of the same steps as for an IPO. The main difference is that a market price for the shares already exists, so the price-setting process is not necessary.