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C. $280.0 million D. $840.0 million QUESTION 13 A biotech company in Boston just completed an IPO with an investment bank on a firm commitment basis. The gross proceeds were 5120 million. The offering price to the public is $30 per share and the underwriter spread was 6% per share. The stock's closing price at the end of the first day is $33. What was the percentage underpricing? A. The IPO was overpriced. B. 1796 C. 1096 D. 696 Save and Submit to save and submit. Click Save All Answers to save all answers Save QUESTION 12 Valiant industries has 30 million shares of stock outstanding at a price of $28 per share. The company wishes to raise mole money and plans to do so through a rights issue. Every existing stockholder will receive one right for each share of stock held. For every three rights held by the stockholder, they can buy one share at a price of $28. If all rights are exercised, how much money will be raised in this offer? A $168.0 million B. $84.0 million C. $280.0 million D. $840.0 million QUESTION 13 Sate and Submit to save and submit. Click Save All Answers to save all answers