Bubba Securities, Inc. offers 3,000,000 shares of Top Notch Manufacturing Corporation common stock at $27 per share. The next day an advertisement appears in the Wall Street Journal announcing the offering and listing the names of some of the underwriting firms.
This ad is commonly referred to as a:
- public offering
- tombstone ad
- sales directive
- syndicate announcement
Answer(s): B
Explanation:
tombstone ad. Tombstone ads are used to announce new issues. They do not offer to buy or sell securities. They are informational only.
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