Match Group went public in November 2018. The company sold 15,833,333 shares at $16.0 per share. The underwriting spread was $2.66 a share, and the direct expenses were $0.41 a share. a. What was the percentage underwriting spread? (Enter your answer as a percent rounded to 1 decimal place.) ANSWERED b. How much did the company raise after all expenses? (Enter your answer in dollars not millions. Round your answer to the nearest dollar.) ANSWERED c. On its first day of trading the stock closed at $20.74. Calculate the total dollar cost of underpricing. (Enter your answer in dollars not millions. Round your answer to the nearest dollar.)
I know the answers for A (16.6) and B (204,724,996), but I am stuck on C:
Match Group went public in November 2018. The company sold 15,833,333 shares at $16.0 per share. The underwriting spread was $2.66 a share, and the direct expenses were $0.41 a share.
a. What was the percentage underwriting spread? (Enter your answer as a percent rounded to 1 decimal place.)
ANSWERED
b. How much did the company raise after all expenses? (Enter your answer in dollars not millions. Round your answer to the nearest dollar.)
ANSWERED
c. On its first day of trading the stock closed at $20.74. Calculate the total dollar cost of underpricing. (Enter your answer in dollars not millions. Round your answer to the nearest dollar.)
NEED HELP WITH "C" PLEASE
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