An underwriting syndicate is a group of investment bankers who help to distribute a new issue for a company True or False The term "underwriter" is synonymous with risk-taker or risk-bearer. True or False Raybac is about to go public. Its present stockholders own 490,000 shares. The new public issue will represent 870,000 shares. The shares will be priced at $50 to the public with a 18% spread. The out-of-pocket costs in addition to the spread will be $550,000. What are the net proceeds to Raybac? Multiple Choice $35,120,000 $-8,384,950 $35,125,000 $35,135,000