Question

Which of the following best describes a best efforts underwriting commitment?

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Underwriter is only responsible for half (50%) of the issue.
The underwriter agrees to buy the entire issue and assume full financial responsibility for any unsold shares.
If the entire issue cannot be sold at the offering price, the deal is called off and the issuing company receives nothing.
Underwriter commits to selling as much of the issue as possible at the agreed-on offering price but can return any unsold shares to the issuer without financial responsibility.

Answer 1

Answer:

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Explanation:

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Answer 2

We are asked a question as to what describes the best efforts of underwriting commitment. The correct answer will be a 'best efforts underwriting agreement'.

• The underwriter commits to selling as much of the issue as possible at the agreed-on offering price.
• It is not necessary for him to complete selling all but can return any unsold shares to the issuer without financial responsibility.
• There are different types of underwriting agreements and a ' best efforts underwriting agreement' is best described by the above statement.
• By this agreement, the underwriter should give his best efforts in selling the shares of the company that is given to him.
• Therefore the correct answer will be 'Best efforts underwriting agreement.'

PROJECT CODE: #SPJ2

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