Ethanol Lawn Mowers issued 500,000 shares to the public. The gross proceeds were $31,250,000 and the net proceeds were $30 million. Merrel Bench was the lead underwriter and deal negotiator, but 10 other investment bankers (one of which was Golden Sax) were also used to put up capital and help sell the issue. Which of the following statements is/are correct?

1. I. The public paid $62.50 a share.
2. II. Golden Sax was the originating house.
3. III. The spread per share was $3.50.
4. IV. Merrel Bench is the sole book running manager.
5. V. This offer was a syndicated deal.