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Blue Coral Breweries (BCB) is planning an IPO. Its underwriters have said the stock will sell at $19.0 per share. The direct costs (legal fees,
Blue Coral Breweries (BCB) is planning an IPO. Its underwriters have said the stock will sell at $19.0 per share. The direct costs (legal fees, printing, etc.) will be $880,000. The underwriters will charge a 7.2% spread. $36 million was raised via the IPO. If the stock price closes the first day at $24.5, how much cash has BCB left on the table?
NOTE: Enter your answer to the nearest dollar amount, rounded up, with no dollar sign. If your answer is $2,345.80, enter 2,346
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