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5. The market for common stock Aa Aa Type of corporation Sixty Second Avenue Inc. recently raised capital through an initial public offering (IPO). Its stock can now be purchased on the NYSE. This company is referred to as: O A closely held corporation A publicly owned corporation Initial Public Offering performance When the demand for an initial public offering (IPO) of securities is less than the number of securities issued, the offering is deemed to be: Oversubscribed Undersubscribed WAC Inc. is going public and issuing 500,000 shares of common stock. The capital raised in the IPO will fund the company's proposed expansion. A Dutch auction is used to allocate shares in the WAC IPO. The following table shows the number of shares requested by potential investors in each row Number of Shares Price per Bids Bidder # 1 Bidder # 2 Bidder # 3 Bidder # 4 Bidder # 5 Bidder # 6 Requested 50,000 100,000 150,000 200,000 250,000 300,000 Share $65 $63 $61 $59 $57 $55 What should be the firm's IPO offer price? $61 O $59 $56 O $57