Per advice from Lowtrade to forward my question to you: Upon closing :Does a public offering mean the book runners provide company with cash and then they sell to whomever? (having trouble articulating question) Is it basically 2 seperate transactions? 1st: book runner prices it and gives company funds 2nd: book runner sells in open market? (it's on book runner to sell for whatever they can get - if the sell for more by doing a pump then they make more ---but if price tanks they could also be stuck with losses? Essentially there is no legal time limit right? If they wanted to hold and take that risk they could? I want to clarify "upon / after closing" vs pricing... Feel free ad any insight about pricing "insight" as well... Thanks