Question
Initial public offering. On April 13, 2017, Yext Inc. completed its IPO on the NYSE. Yext sold 10,500,000 shares of stock at an offer price
Initial public offering. On April 13, 2017, Yext Inc. completed its IPO on the NYSE. Yext sold 10,500,000 shares of stock at an offer price of $11 with an underwriting discount of $0.77 per share. Yexts closing stock price on the first day of trading on the secondary market was $13.41, and 85,489,470 shares were outstanding. a. Calculate the total proceeds for Yexts IPO. b. Calculate the percentage underwriter discount. c. Calculate the dollar amount of the underwriting fee for Yexts IPO. d. Calculate the net proceeds for Yexts IPO. e. Calculate Yexts IPO underpricing. f. Calculate Yexts market capitalization.
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