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During the IPO of Ruin Inc., a total of 17.7 million shares are being sold to the public at a price of $30.64, representing a
During the IPO of Ruin Inc., a total of 17.7 million shares are being sold to the public at a price of $30.64, representing a 52.367% stake in the company after the IPO. The original founders contribute 5.9 million of their existing shares to the public, while venture capital funds exit 2.1 million shares from their existing holdings. Part A: How much fresh capital will the firm receive during the IPO (in million)? $ million. (Round your answer to 3 decimal places.) Part B: How many shares existed before the IPO? million shares. (Round your answer to 3 decimal places.)
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