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Issuing securities. Bruce Wayne is going publi Next question hess. Berkman Investment Bank will be his banker and is doing a best efforts sale with
Issuing securities. Bruce Wayne is going publi Next question hess. Berkman Investment Bank will be his banker and is doing a best efforts sale with a 3.8% commission fee. The SEC has authorized Wayne 5,230,000 shares for this issue. He plans to keep 1,000,000 shares for himself, hold back an additional 170,000 shares according to the green-shoe provision for Berkman Investment Bank, pay off Venture Capitalists with 470,000 shares, and sell the remaining shares at $16.28 a share. Given the bids at the auction (shown on the table here: 6 ), distribute the shares to all bidders using a pro-rata share procedure, and assume Berkman Investment Bank takes its green-shoe shares. What is the total cash flow to Wayne after the sale? To Berkman Investment Bank? Click on the following Icon in order to paste this table's content into a spreadsheet Bidder Quantity Bid Gotham Pension Fund 2,020,000 Clark Kent Investors 1,450,000 Central City Insurance 500,000 Arthur Curry 440,000 Barry Allen 350,000 Total 4,760,000
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