On January 20,

WhalenWhalen

Inc., sold

99

million shares of stock in an SEO. The market price of

WhalenWhalen

at the time was

$ 42.00$42.00

per share. Of the

99

million shares sold,

44

million shares were primary shares being sold by the company, and the remaining

55

million shares were being sold by the venture capital investors. Assume the underwriter charges

5.2 %5.2%

of the gross proceeds as an underwriting fee.a. How much money did

WhalenWhalen

raise?

b. How much money did the venture capitalists receive?

c. If the stock price dropped

3.5 %3.5%

on the announcement of the SEO and the new shares were sold at that price, how much money would

WhalenWhalen

receive?

a. How much money did

WhalenWhalen

raise?After underwriting fees,

WhalenWhalen

raised

$nothing

million. (Round to two decimal places.)

b. How much money did the venture capitalists receive?

After underwriting fees, the venture capitalists received

$nothing

million. (Round to two decimal places.)c. If the stock price dropped

3.5 %3.5%

on the announcement of the SEO and the new shares were sold at that price, how much money would

WhalenWhalen

receive?After underwriting fees

WhalenWhalen

would receive

$nothing

million.(Round to two decimal places.)