Determine the types of underwriting

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Acme Corporation has hired a group of investment banks to help them issue a secondary offering of their equity. The company insists on selling its new shares at an issue price of $10/share. The syndicate of banks has agreed to attempt to sell as many shares as possible at that price. They will be charging Acme $1.2 million in fees. Which of the following types of underwriting is most likely being used in this situation?

Reference no: EM132500805

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