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When ABC Company went public in September 2008, the offer price was $4.44 per share and the closing price at the end of the first
When ABC Company went public in September 2008, the offer price was $4.44 per share and the closing price at the end of the first day was $6.94. The company issued 4 million shares. What was the loss to the company due to under-pricing? (in millions of dollars to the nearest two decimal places; dont use $ sign eg $4.5766 million is 4.58)
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