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Initial Public Offering. A biotechnology company, Keros Therapeutics, completed its IPO on April 8 , 2 0 2 0 , and listed on the Nasdaq.

Initial Public Offering. A biotechnology company, Keros Therapeutics, completed its IPO on April 8,2020, and listed on the Nasdaq. Keros sold 6,000,000 shares of stock to primary market investors at an IPO offer price of $16.46, with an underwriting discount of 6.9%. Secondary market investors, however, were paying $20.48 per share for Keros' 19,189,391 shares of stock outstanding (which includes the newly-issued shares).
a. Calculate the total proceeds for Keros' IPO.
b. Calculate the dollar amount of the underwriting fee for Keros' IPO.
c. Calc'late the net proceeds for Keros' IPO.
d. Calclate market capitalization for Keros' outstanding stock.
e. Calculate IPO underpricing for Keros' IPO.
f. Explain the IPO underpricing for Keros.
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