Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4 . Asia - based Ashraf Inc., a high - tech company, raised $ 9 2 million in its initial public offering ( IPO )

4. Asia-based Ashraf Inc., a high-tech company, raised $92 million in its initial public offering (IPO). Of the $35 offering price per share, the corporation got $29. $400,000 was spent on the firm's legal fees, SEC registration fees, and other out-of-pocket expenses. The first trading day saw a 17% spike in the company's stock price. How much did the company have to pay in total to issue the securities?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Evolutionary Finance

Authors: Bartholomew Frederick Dowling

1st Edition

0230502199, 9780230502192

More Books

Students also viewed these Finance questions

Question

7 Explain the equity theory of motivation.

Answered: 1 week ago