Question
Trajax, Inc., a high-technology firm in Portland, raised a total of $110 million in an IPO. The company received $27 of the $30 per share
Trajax, Inc., a high-technology firm in Portland, raised a total of $110 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 $750,000. The firm's stock price increased 17 percent on the first day of trading. What was the total cost to the firm of issuing the securities?(Round answer to the nearest whole dollar, e.g. 5,275.)
Total Cost$
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
