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Oriole, Inc., a high - technology firm in Portland, raised a total of $ 8 1 million in an IPO. The company received $ 2

Oriole, Inc., a high-technology firm in Portland, raised a total of $81 million in an IPO. The company received $27 of the $30 per share offering price. The firm's legal fees, SEC registration fees, and other out-of-pocket costs were $400,000. The firm's stock price increased 17 percent on the first day of trading. What was the total cost to the firm of issuing the securities?
Total cost $

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