Current Attempt in Progress

Crane Worldwide Holdings Inc. completed an initial public offering on December $12,2013.$ The offer price was $$20\mathrm{.}40$ per share, and

the closing price at the end of the first day was $$21\mathrm{.}90.$ The firm issued $119\mathrm{.}8$ million shares. What was the loss to Crane stockholders due to underpricing? $($Round answer to $2$ decimal place, e$.$g$.52\mathrm{.}71.)$

Loss to Crane stockholders

$

million

Who received this value?

The

received this value.