Round 8: Tossup 1

These events can be stabilized by the exercise of a greenshoe clause. The 2019 adoption of Rule 163B allows for “testing the waters” prior to one of these events. One of these events occurs alongside a full demutualization. A lock-up period follows one of these events, which can be linked to a firm (15[1])commitment or bought deal contract. These events are typically preceded by a road show and the distribution of a (15[1])preliminary or (*) “red herring” document. These events can be circumvented through a reverse takeover or by the creation of a SPAC (10[1]-5[1])(“spak”). Before one of these events, underwriters must file a Form S-1, including a prospectus. The largest ever one of these events occurred in 2019 and involved Saudi Aramco. For 10 points, name these events in which a company issues securities for sale on the open market. ■END■ (10[1])

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