老师，麻烦翻译一下B选项

问题如下：

When an investment bank guarantees the sale of an entire issue at a negotiated offering price, this best describes a(n):

选项：

A.rights offering.

B.best effort offering.

C.underwritten offering.

解释：

1. Incorrect because corporations can issue new stock via a rights offering. In a rights offering, the corporation distributes rights to buy stock at a fixed price to existing shareholders in proportion to their holdings.

2. Incorrect because in a best effort offering, the investment bank acts only as broker. They do not guarantee the sale of the entire issue at a negotiated offering price.

3. Correct because in an underwritten offering—the most common type of offering—the investment bank guarantees the sale of the issue at an offering price that it negotiates with the issuer.

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