The members of an underwriting syndicate/ group (a list of underwriters) which plays a moderately important role (i.e., constituting the second participation tier/ bracket, given their respective size) in a securities offering.

The underwriters subscribe to the second largest portion (second to the lead manager), and their names are shown below the lead manager in tombstone advertising announcing the new deal in the media. The names of remaining underwriters, including co-managers, taking part in the offering will appear in alphabetical order below those of the lead underwriters.