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Dienz Pharma plans to issue an IPO on a best-effort basis. The company's investment bank requires a spread of 16 percent of the selling price.

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Dienz Pharma plans to issue an IPO on a best-effort basis. The company's investment bank requires a spread of 16 percent of the selling price. The selling price is expected to be $32 per share. Three million shares are issued. What are the proceeds for the issuer? $78.75 million $80.64 million $90.00 million $96.00 million

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