Pawprints Paint recently went public in a best efforts offering. The company offered 155,000 shares of stock
Fantastic news! We've Found the answer you've been seeking!
Question:
Pawprints Paint recently went public in a best efforts offering. The company offered 155,000 shares of stock for sale at an offer price of $25 per share. The administrative costs associated with the offering were $395,000 and the underwriter's spread was 7 percent. After completing their sales efforts, the underwriters determined that they sold a total of 148,700 shares. What were the net proceeds to the company?
Related Book For
Financial Markets and Institutions
ISBN: 978-0077861667
6th edition
Authors: Anthony Saunders, Marcia Cornett
Posted Date: