Which of the following statement(s) is (are) correct?

1. The key difference between a negotiated offer and a competitive offer is that the issuing firm can offer its securities to the highest bidder in a competitive bid but in a negotiated bid only one investment banker is used.
2. Venture capitalists are intermediaries that raise funds from outside investors. They play an active role in overseeing, advising, and monitoring the companies in which they invest.
3. Empirical evidence suggests that upon announcement of a new equity issue, current stock prices generally drop, perhaps because the new issue reflects management's view that common stock is currently overvalued.
4. Assuming everything else is constant, when a stock goes ex-rights its price should increase since the corporation no longer has the right to force the stockholder to convert.

Group of answer choices

All of the above

I, II and IV only

II and II only

II, III and IV only

I, II and III only