The Raven Co. has just gone public. Under a firm commitment agreement, Raven received $18.20 for each
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The Raven Co. has just gone public. Under a firm commitment agreement, Raven received $18.20 for each of the 10 million shares sold. The initial offering price was $20 per share, and the stock rose to $25.60 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: 978-0073382395
9th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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