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Zimba Technology Corp. recently went public with an initial public offering of 3.0 million shares of stock. The underwriter used a firm commitment offering in
Zimba Technology Corp. recently went public with an initial public offering of 3.0 million shares of stock. The underwriter used a firm commitment offering in which the net proceeds were $8.74 per share and the underwriter's spread was 8 percent of the gross proceeds. Zimba also paid legal and other administrative costs of $255,000 for the IPO. Calculate the gross proceeds per share. (Round your answer to 2 decimal places.) Gross proceeds $ 9.51 per share Calculate the total funds received by Zimba from the sale of the 3.0 million shares of stock. (Enter your answer in millions of dollars rounded to 3 decimal places.) Funds received by Zimba $ m
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