The best efforts agreement refers to when the underwriter agrees to purchase all of the shares in the offering and then resells them to investors.

Name: The best efforts agreement refers to when the underwriter agrees to purchase all of the shares in the offering and then resells them to investors.
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The best efforts agreement refers to when the underwriter uses its best efforts to sell all of the shares in the offering but does not necessarily agree to purchase them all and resell them to investors.

The Best Efforts Agreement Refers to When the Underwriter Agrees