Ancestry.com became a publicly traded company on NASDAQ (symbol: ACOM)
on November 5, 2009, with an initial public offering of 7.4 million
shares priced at $13.50 per share, underwritten by Morgan Stanley, Bank
of America, Merrill Lynch, Jefferies & Company, Piper Jaffray, and BMO
Capital Markets.[26]

https://en.wikipedia.org/wiki/Ancestry.com

What does underwritten mean here? I see it all the time wrt IPOs.

Underwriters are used for insurance because someone has to agree to pay
if there is a large claim or a slew of smaller claims.

But IPO's take in money. What are those 4 companies underwriting, what
are they doing?

Why can't some bookkeeping company with no assets just sell the stock
and take in the money for ancestry.com?

On Wednesday, February 3, 2021 at 1:18:51 AM UTC-5, micky wrote:
Ancestry.com became a publicly traded company on NASDAQ (symbol: ACOM)
on November 5, 2009, with an initial public offering of 7.4 million
shares priced at $13.50 per share, underwritten by Morgan Stanley, Bank
of America, Merrill Lynch, Jefferies & Company, Piper Jaffray, and BMO
Capital Markets.[26]

https://en.wikipedia.org/wiki/Ancestry.com

What does underwritten mean here? I see it all the time wrt IPOs.

Underwriters are used for insurance because someone has to agree to pay
if there is a large claim or a slew of smaller claims.

But IPO's take in money. What are those 4 companies underwriting, what
are they doing?

Why can't some bookkeeping company with no assets just sell the stock
and take in the money for ancestry.com?

They are the group of investment bankers that agreed to take it public
at $13.50 a share, that will offer the IPO to their best customers, that will
make a market in it, stand behind it to make sure it goes up in price and is
successful. They are endorsing it with their firm's reputation. Some bookkeeping
company can't do that, because among other things, it's illegal, there are laws
and requirements governing dealing in publicly traded stocks.

micky wrote

Ancestry.com became a publicly traded company on
NASDAQ (symbol: ACOM) on November 5, 2009, with
an initial public offering of 7.4 million shares priced at
$13.50 per share, underwritten by Morgan Stanley,
Bank of America, Merrill Lynch, Jefferies & Company,
Piper Jaffray, and BMO Capital Markets.[26]

https://en.wikipedia.org/wiki/Ancestry.com

What does underwritten mean here? I see it all the time wrt IPOs.

It means that the if the general public chooses not to
buy all the shares at the issue price, the underwriter is
obliged to buy all the shares that the public doesn't want.
https://en.wikipedia.org/wiki/Underw...s_underwriting

Underwriters are used for insurance because someone has to
agree to pay if there is a large claim or a slew of smaller claims.

But IPO's take in money. What are those 4
companies underwriting, what are they doing?

See above.

Why can't some bookkeeping company with no assets just
sell the stock and take in the money for ancestry.com?

That doesn't raise as much money if the stock isnt popular.

On Thu, 4 Feb 2021 04:29:41 +1100, cantankerous trolling geezer Rodent
Speed, the auto-contradicting senile sociopath, blabbered, again:

FLUSH the trolling senile pest's latest troll**** unread

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"You are now exposed as a liar, as well as an ignorant troll."
"MID: .com"

"trader_4" wrote in message
...
On Wednesday, February 3, 2021 at 1:18:51 AM UTC-5, micky wrote:
Ancestry.com became a publicly traded company on NASDAQ (symbol: ACOM)
on November 5, 2009, with an initial public offering of 7.4 million
shares priced at $13.50 per share, underwritten by Morgan Stanley, Bank
of America, Merrill Lynch, Jefferies & Company, Piper Jaffray, and BMO
Capital Markets.[26]

https://en.wikipedia.org/wiki/Ancestry.com

What does underwritten mean here? I see it all the time wrt IPOs.

Underwriters are used for insurance because someone has to agree to pay
if there is a large claim or a slew of smaller claims.

But IPO's take in money. What are those 4 companies underwriting, what
are they doing?

Why can't some bookkeeping company with no assets just sell the stock
and take in the money for ancestry.com?

They are the group of investment bankers that agreed to take it public
at $13.50 a share, that will offer the IPO to their best customers, that
will
make a market in it,

Yes.

stand behind it to make sure it goes up in price and is successful.

That isnt always possible, or legal.

They are endorsing it with their firm's reputation.

Nope, just end up with some of the stock
if not enough want it at the offer price.

Some bookkeeping company can't do that, because
among other things, it's illegal, there are laws and
requirements governing dealing in publicly traded stocks.

Those apply to the underwriters too.

On Thu, 4 Feb 2021 05:33:20 +1100, cantankerous trolling geezer Rodent
Speed, the auto-contradicting senile sociopath, blabbered, again:

FLUSH the trolling senile asshole's latest troll**** unread

--
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cretin from Oz:
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