Question 17-Which of the following statements is FALSE? Select one: O a. The shares that are sold in the IPO may either be new shares that raise new capital, known as a secondary offering, or existing shares that are sold by current shareholders (as part of their exit strategy), known as a primary offering. O b. Many IPOs, especially the larger offerings, are managed by a group of underwriters. O c. At an IPO, a firm offers a large block of shares for sale to the public for the first time. O d. After deciding to go public, managers of the company work with an underwriter, an investment banking firm that manages the offering and designs its structure