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A procedure in which the underwriter (investment bank) enters into a written agreement with the issuer of the securities to purchase the securities and then

A procedure in which the underwriter (investment bank) enters into a written agreement with the issuer of the securities to purchase the securities and then to resell them to the public is called _____ underwriting.

1. dutch auction

2. prospectus

3. seasoned equity offering

4. firm commitment

5. best efforts

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