Which of the following statements is FALSE?

A.A "road trip" is where senior management and the lead underwriters travel around the country (and sometimes around the world) promoting the company and explaining their rationale for the offer price to the underwriters' largest customersmainly institutional investors such as mutual funds and pension funds.

B. Before an IPO, the company prepares the final registration statement and final prospectus containing all the details of the IPO, including the number of shares offered and the offer price.

C.Once the issue price (or offer price) is set, underwriters may invoke another mechanism to protect themselves against a lossthe overallotment allocation.

D. Before the offer price is set, the underwriters work closely with the company to come up with a price range that they believe provides a reasonable valuation for the firm.