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JIzzy Incorporated sells 10 million shares of stock in an SEO-8 million being primary shares issued by the company and 2 million being secondary shares
JIzzy Incorporated sells 10 million shares of stock in an SEO-8 million being primary shares issued by the company and 2 million being secondary shares sold by investors in the company. At the time of the sale, Izzy's stock was selling at $8.50. If the underwriter charges 3.65% of the gross proceeds as a fee, how much money was raised in the sale?
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$68.30 million
$65.52 million
$64.51 million
$61.44 million
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