State whether each of the following statements is true or false, and briefly explain why. (i) 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. (ii) Once the issue price (or offer price) is set, underwriters may invoke another mechanism to protect themselves against a lossthe overallotment allocation. (iii) Underwriters appear to use the information they acquire during the bookbuilding stage to intentionally under price the IPO, thereby reducing their exposure to losses. (iv) The long-run performance of a newly public company (three to five years from the date of issue) is superior to the overall market return