Question
The Wiley OakleyCo. has just gone public. Under a firm commitment agreement, the company received $21.05 for each of the 6.59 million shares sold. The
The Wiley OakleyCo. has just gone public. Under a firm commitment agreement, the company received $21.05 for each of the 6.59 million shares sold. The initial offering price was $22.90 per share, and the stock rose to $29.41 per share in the first few minutes of trading. The company paid $909,000 in legal and other direct costs and $184,000 in indirect costs.
What is the net amount raised?(Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)
Net amount raised =
What are the total directcosts?(Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)
Direct costs =
What are the total indirect costs?(Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)
Indirect costs =
What are the total costs?(Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)
Total costs =
What was the flotation cost as a percentage of funds raised?(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Flotation cost percentage =
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started