An online medical advice company just completed an IPO with an investment bank on a firm- commitment basis. The firm issued five million shares of common stock, and the underwriting fees were $2.20 per share. The offering price was $27.60 per share. (a) Your answer is correct. What were the total proceeds from the common-stock sale? Total proceeds $ 138,000,000 eTextbook and Media Attempts: 2 of 3 used (b) How much money did the company receive? Net proceeds to firm $
An online medical advice company just completed an IPO with an investment bank on a firm- commitment basis. The firm issued five million shares of common stock, and the underwriting fees were $2.20 per share. The offering price was $27.60 per share. (a) Your answer is correct. What were the total proceeds from the common-stock sale? Total proceeds $ 138,000,000 eTextbook and Media Attempts: 2 of 3 used (b) How much money did the company receive? Net proceeds to firm $
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
![An online medical advice company just completed
an IPO with an investment bank on a firm-
commitment basis. The firm issued five million
shares of common stock, and the underwriting
fees were $2.20 per share. The offering price was
$27.60 per share.
(a)
Your answer is correct.
What were the total proceeds from the
common-stock sale?
Total proceeds $
138,000,000
eTextbook and Media
Attempts: 2 of 3 used
(b)
How much money did the company receive?
Net proceeds to firm $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4fbeaad4-2711-42ff-ab49-af512038b239%2F01317144-fbde-4a6b-9efe-584928f1e2c5%2Fi962u8f.jpeg&w=3840&q=75)
Transcribed Image Text:An online medical advice company just completed
an IPO with an investment bank on a firm-
commitment basis. The firm issued five million
shares of common stock, and the underwriting
fees were $2.20 per share. The offering price was
$27.60 per share.
(a)
Your answer is correct.
What were the total proceeds from the
common-stock sale?
Total proceeds $
138,000,000
eTextbook and Media
Attempts: 2 of 3 used
(b)
How much money did the company receive?
Net proceeds to firm $
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