1510 Issuing securities.Bruce Wayne is going public with his new business. Berkman Investment Bank will be his banker and is doing a best efforts sale with a 4.2% commission fee. The SEC has authorized Wayne 4,930,000 shares for this issue. He plans to keep 1,220,000 shares forhimself, hold back an additional 160,000 shares according to thegreen-shoe provision for Berkman InvestmentBank, pay off Venture Capitalists with 470,000 shares, and sell the remaining shares at $15.05 a share. Given the bids at the auction(shown on the tablehere: (see image), distribute the shares to all bidders using apro-rata shareprocedure, and assume Berkman Investment Bank takes itsgreen-shoe shares. What is the total cash flow to Wayne after thesale? To Berkman InvestmentBank?

(7 Part Answer)