Series 24: Pre-syndicate Bid

Taken from our Series 24 - FINRA General Principal Qualification Examination

Definition of the term Pre-syndicate Bid...

a stabilizing bid made before the effective date of a follow-on offering. The lead manager must notify Nasdaq prior to making a pre-syndicate bid, and the manager must inform Nasdaq whether the bid should be converted to a traditional bid once the issue becomes effective.

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