The Raven Co. has just gone public. Under a firm commitment agreement, Raven received $17.40 for each of the 20 million shares sold. The initial offering price was $19.50 per share, and the stock rose to $21.60 per share in the first few minutes of trading. Raven paid $600,000 in direct legal and other costs and $200,000 in indirect costs. |
What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE
The Raven Co. has just gone public. Under a firm commitment agreement, Raven received $17.40 for each of the 20 million shares sold. The initial offering price was $19.50 per share, and the stock...
Bellevue Co. has just gone public. Under a firm commitment agreement, the company received $17.40 for each of the 20 million shares sold. The initial offering price was $19.50 per share and the stock rose to $21.60 per share in the first few minutes of trading. The company paid $600,000 in direct legal and other costs and $200,000 in indirect costs. What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations and enter your...
The Raven Co. has just gone public. Under a firm commitment agreement, Raven received 18.50 for each of the 5 million shares sold. The initial offering price was $20.35 per share, and the stock rose to $26.25 per share in the first few minutes of trading. Raven paid $1,150,000 in direct legal and other costs, and $403,000 in indirect costs. What was the flotation cost as a percentage of funds raised?
The Sugarland Co. has just gone public. Under a firm commitment agreement, the company received $32.80 for each of the 4.18 million shares sold. The initial offering price was $35.20 per share, and the stock rose to $42.60 per share in the first few minutes of trading. The company paid $913,000 in legal and other direct costs and $266,000 in indirect costs. What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations and enter...
The Wiley Oakley Co. has just gone public. Under a firm commitment agreement, the company received $20.65 for each of the 6.55 million shares sold. The initial offering price was $22.50 per share, and the stock rose to $29.01 per share in the first few minutes of trading. The company paid $905,000 in legal and other direct costs and $180,000 in indirect costs. What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations and...
The Collins Co. has just gone public. Under a firm commitment agreement, the company received $32.10 for each of the 4.11 million shares sold. The initial offering price was $34.50 per share, and the stock rose to $41.20 per share in the first few minutes of trading. The company paid $906,000 in legal and other direct costs and $252,000 in indirect costs. What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations and enter...
The Wiley Oakley Co. has just gone public. Under a firm commitment agreement, Wiley received $21.39 for each of the 7.75 million shares sold. The initial offering price was $23 per share, and the stock rose to $26.30 per share in the first few minutes of trading. Wiley paid $1,350,000 in legal and other direct costs and $210,000 in indirect costs. What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations and enter your...
The Wiley Oakley Co. has just gone public. Under a firm commitment agreement, the company received $20.45 for each of the 6.53 million shares sold. The initial offering price was $22.30 per share, and the stock rose to $28.81 per share in the first few minutes of trading. The company paid $903,000 in legal and other direct costs and $178,000 in indirect costs. What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations and...
The Green Hills Co. has just gone public. Under a firm commitment agreement, Green Hills received $15.50 for each of the 20 million shares sold. The initial offering price was $17.10 per share, and the stock rose to $19.90 per share in the first few minutes of trading. Green Hills paid $620,000 in direct legal and other costs and $210,000 in indirect costs. What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations and...
The Collins Co. has just gone public. Under a firm commitment agreement, the company received $32.70 for each of the 4.17 million shares sold. The initial offering price was $35.10 per share, and the stock rose to $42.40 per share in the first few minutes of trading. The company paid $912,000 in legal and other direct costs and $264,000 in indirect costs. What is the net amount raised? (Do not round intermediate calculations. Enter your answer in dollars, not millions...
Moonscape has just completed an initial public offering. The firm sold 1 million shares at an offer price of $10 per share. The underwriting spread was $0.60 a share. The price of the stock closed at $16.00 per share at the end of the first day of trading. The firm incurred $200,000 in legal, administrative, and other costs. What were flotation costs as a fraction of funds raised? (Do not round intermediate calculations. Enter your answer as a percent rounded...