Question
An online medical advice company just completed an IPO with an investment bank on a firm-commitment basis. The firm issued 5 million shares of common
An online medical advice company just completed an IPO with an investment bank on a firm-commitment basis. The firm issued 5 million shares of common stock, and the underwriting fees were $4.10 per share. The offering price was $24.90 per share. What were the total proceeds from the common-stock sale? (Round answer to nearest whole dollar, e.g. 5,275.)
Total proceeds = $
How much money did the company receive? (Round answer to nearest whole dollar, e.g. 5,275.) Net proceeds to firm = $
How much money did the investment bank make? (Round answer to nearest whole dollar, e.g. 5,275.) Underwriting spread = $
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