ABC C.o just completed an IPO with an investment bank on a firm-commitment basis. The firm...

ABC C.o just completed an IPO with an investment bank on a firm-commitment basis. The firm issues 5 million shares of common stock, and the underwriting fees were $2.09 per share. The offering price was $30.00 per share.

(a) What were the total proceeds from the common stock sale?

Total Proceeds $ ______________-.

Solutions

Expert Solution

Total proceeds = Total shares * offering price

Total proceeds = 5,000,000 * 30

Total proceeds = $150,000,000

jeff jeffy answered 2 years ago

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