Lewis Materials recently offered 15 000 shares but only received payment for 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 underwriters do their best to sell the shares but do not guarantee the sale of all shares, which is why only 12,500 out of 15,000 shares were sold.

Lewis Materials Recently Offered 15 000 Shares but Only Received