Jessica Hill is studying towards a Business BS, Financial Management Specialization degree from The Lisbon MBA (Portugal) and currently working as Investment Analyst, Global Equities Intern for Allen & Company.

Jessica works closely with the trading teams to develop a deep knowledge of their business, clients and strategies; Production and certification of Greeks and sensitivities to different risk factors (Spot, Volatility, Repo, Forex etc); Monitoring and certification of Stress-Tests and Regulatory metrics such as Value-at-Risk; Monitoring of risk limit consumptions and follow-up of breaches with Front-Office and Risk management; Certification of the Profit & Loss.

Jessica Hill is preparing for a presentation about the venture capital in front of several institutional investors reps who are interested in investing in start-up firms. After reseaching several databases, Jessica found the following venture capital news.

Can you help Jessica to understand what is the Boustead Securities, LLC's responsibility as the sole underwriter for the offering that was made on best efforts basis?

Leaping Group Co., Ltd. Announces Effectiveness of its Registration Statement NASDAQ OMX's News Release Distribution Channel; New York [New York]22 Mar 2019.

Shenyang, China, March 22, 2019 (GLOBE NEWSWIRE) -- Leaping Group Co., Ltd. (the Company), a multimedia service provider with business relationships with national advertising clients in China, announced today that its registration statement on Form F-1, relating to the Companys proposed initial public offering (IPO), was declared effective on March 21, 2019, by the United States Securities and Exchange Commission (the SEC).

The offering will be sold on a best efforts basis. Boustead Securities, LLC is acting as the sole underwriter for the offering. Hunter Taubman Fischer & Li LLC is acting as counsel to the Company, and Ortoli Rosenstadt LLP is acting as counsel to the underwriter.

In its proposed IPO, the Company is offering a minimum of 1,200,000 ordinary shares and a maximum of 4,000,000 ordinary shares to the public at a price of $5.00 per ordinary share. The Company expects to raise aggregate gross proceeds of between US$6,000,000 and US$20,000,000, before commissions and expenses. Upon the closing of the offering, the total number of ordinary shares outstanding will be between 17,221,126.7606 and 20,021,126.7606 shares, as described in the prospectus.