Batman Enterprises has just completed an initial public offering. The firm sold 800,000 new shares (the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Batman Enterprises has just completed an initial public offering. The firm sold 800,000 new shares (the primary offering). In addition, existing shareholders sold 225,000 shares (the secondary issue). The new shares were offered to the public at $11.00 per share and underwriters received a spread of $1.37 a share. The legal, administrative, and other costs were $50,000 and were split proportionately between the company and the selling stockholders. How much money did the company receive before paying its proportion of the direct costs? Number Click "Verify" to proceed to the next part of the question. Batman Enterprises has just completed an initial public offering. The firm sold 800,000 new shares (the primary offering). In addition, existing shareholders sold 225,000 shares (the secondary issue). The new shares were offered to the public at $11.00 per share and underwriters received a spread of $1.37 a share. The legal, administrative, and other costs were $50,000 and were split proportionately between the company and the selling stockholders. How much money did the company receive before paying its proportion of the direct costs? Number Click "Verify" to proceed to the next part of the question.
Expert Answer:
Posted Date:
Students also viewed these finance questions
-
If accounting-based performance measures, such as net income or core earnings, are to be significant components of manager compensation plans, they need to be sensitive and precise measures of...
-
Describe the differences between mainstream and responsible financial management.
-
Find the coordinates of a second point on the graph of a function when the given point is on the graph and the function is (a) Even (b) Odd 4
-
Warren Bennis asserted that leaders have the following competencies: A. Foster a clear vision with an endowed purpose that is owned by the people involved with the leader. B. Must keep reminding...
-
Jetaway, a small manufacturer of replacement parts for the aircraft industry, had always maintained a simple layoutall like machines were located together. That way the firm could be as flexible as...
-
Suppose Intel stock has a beta of 0.96, whereas Boeing stock has a beta of 2.31. If the risk-free interest rate is 4.07% and the expected return of the market portfolio is 11.89%, according to the...
-
Given the following sample data set of 12 points: 46 69 80 88 34 61 89 62 25 57 14 99 What would be a good point estimate for the population mean (to 2 decimal places)? What would be a good point...
-
How do the resource descriptions (typing) used in the Incident Command System lead to a more effective response?
-
In October of 2 0 1 9 Solea Company purchased a zero - emission automobile for $ 7 0 , 0 0 0 . The vehicle will be used exclusively in the company business. The Company uses a calendar - based...
-
How do you deliver and evaluate the presentation?
-
Raleigh Corporation had pretax GAAP income of $ 1 5 0 , 0 0 0 and an income tax rate of 2 5 % . Raleigh had a $ 3 , 0 0 0 credit balance in its Deferred Tax Liability account on January 1 , and a...
-
An equity manager conducted a stock screen on 5 , 0 0 0 U . S . stocks that comprise her investment universe. The results of the screen are presented in the table below. Criterion % of Stocks Meeting...
-
The polishing department of Cullumber Manufacturing Company has the following production and manufacturing cost data for September. All materials are added at the beginning of the process, and...
-
A sprinkler head malfunctions at midfield in an NFL football field. The puddle of water forms a circular pattern around the sprinkler head with a radius in yards that grows as a function of time, in...
-
Can the concept of relevant range be applied to mixed costs, fixed costs, and variable costs?
-
Would the following activities be associated with financial accounting or managerial accounting? 1. Issuing a quarterly earnings report to investors. 2. Determining the cost of producing a product....
-
For each of the following companies, identify whether they are a manufacturing, merchandis ing, or service firm. Exxon Mobil Co. Southwest Airlines Costco Walmart Hershey Co. Boston Consulting Group
Study smarter with the SolutionInn App