Kite Flyers recently offered 6,000 shares of stock for sale but only received payment from its underwriters for the 4,500 shares they sold.What type of underwriting was this?

Question

Quizplus · Accepted Answer

In a "best efforts" cash offer, the underwriter does not guarantee the sale of all the shares but agrees to sell as many as possible, which matches the scenario where only 4,500 out of 6,000 shares were sold.

Kite Flyers Recently Offered 6,000 Shares of Stock for Sale