Hondros Corporation recently went public. The firm offered $42,000$ shares and received net proceeds of $$18\mathrm{.}56$ per share. Hirani & Tran served as the underwriter and sold $37,000$ shares to the public at an offer price of $$20\mathrm{.}63$ per share. What type of underwriting was this?

Multiple Choice

Best efforts

Shelf

Oversubscribed

Private placement

Firm commitment