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DedPeter [7]
3 years ago
10

An online medicaladvice company just completed an IPO with an investment bank on a firm-commitment basis. The firm issued 5 mill

ion shares of common stock, and the underwriting fees were $2.10 per share. The offering price was $27.90 per share. What were the total proceeds from the common-stock sale?​
Business
1 answer:
s2008m [1.1K]3 years ago
3 0

Answer:

The total proceeds from the common-stock sale amounts to $139,500,000

Explanation:

The aggregate proceeds from the sale of common stock is computed as:

Total proceeds from sale of common stock = Number of shares issued × Offer Price per share

where

Number of shares issued is 5 million that is 5,000,000

Offer Price per share is $27.90

By putting the values in the above formula:

= 5,000,000 × $27.90

= $139,500,000

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