The Raven Co. has just gone public. Under a firm commitment agreement, Raven received $17.67 for each
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The Raven Co. has just gone public. Under a firm commitment agreement, Raven received $17.67 for each of the 15 million shares sold. The initial offering price was $19 per share, and the stock rose to $23.18 per share in the first few minutes of trading. Raven paid $900,000 in direct legal and other costs and $320,000 in indirect costs. What was the flotation cost as a percentage of funds raised?
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Related Book For
Fundamentals of corporate finance
ISBN: 978-0078034633
10th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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