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Wexford Industries offers 60,000 shares of common stock to the public in an IPO. The underwriters agree to pay $35 a share and to provide
- Wexford Industries offers 60,000 shares of common stock to the public in an IPO. The underwriters agree to pay $35 a share and to provide their services in a firm commitment underwriting. The offer price is set at $39. After completing their sales efforts the underwriters determine that they were able to sell a total of 48,700 shares. How much cash did Wexford Industries receive from their IPO?
- $1,688,750
- $1,704,500
- $1,881,75
- $2,340,000
- $2,100,000
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Mathematics Of Finance
Authors: Robert Brown, Petr Zima
2nd Edition
0071756051, 9780071756051
