How does a firm commitment underwriting differ from a best-efforts underwriting?
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Firm Commitment Underwriting
A firm commitment has three general meanings in finance, but is most known as an underwriter's agreement to assume all inventory risk and purchase all securities for an initial public offering (IPO) directly from the issuer for sale to the public....
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Public offerings of municipal bonds are most often made through an investment banking firm serving a...View the full answer
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Related Book For 
Financial Markets and Institutions
ISBN: 978-0077861667
6th edition
Authors: Anthony Saunders, Marcia Cornett
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