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A company is planning an IPO of 10 million shares.Each share is expected to sell at $15 per share.The underwriters will charge a 6% spread
A company is planning an IPO of 10 million shares.Each share is expected to sell at $15 per share.The underwriters will charge a 6% spread and incur expenses of $1.5 million.All shares sell at the expected price.Price per share at the end of the first day is $16.50.The current price is$20.How much money was left on the table?
$35 million
$15 million
None of the above
$13.5 million
$50 million
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