Question 3 (1 point) Which of the following statements regarding IPOs is most accurate? Auction IPOs are the most common type of IPO. In an auction IPO, the underwriter purchases the entire issue at a small discount and then resells it at the offer price. At an IPO, a firm returns to the public market to offer more shares. 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. Many IPOs, especially the larger offerings, are managed by a group of underwriters, called a syndicate