Suppose you are the investment banker working as a lead underwriter for a start-up company. The company plans to sell 100 million shares at the price of $23 per share. It also provides you an over- allotment option of 15 million additional shares. Recent road show estimates demand to be around 130 million shares at $23. There is lots of uncertainty about how the stock will perform after trading starts. Consider the following decisions. After trading start, up to how many shares can you buy from the market if stock price start to fall below $23? 10 million shares 15 million shares 20 million shares 23 million shares 30 million shares