Question: Help Save & Exit Su Lesla Inc. has just gone public. Under a firm commitment agreement, Lesla Inc. received 23.25 for each of the 4

Help Save & Exit Su Lesla Inc. has just gone public.

Help Save & Exit Su Lesla Inc. has just gone public. Under a firm commitment agreement, Lesla Inc. received 23.25 for each of the 4 million shares sold. The initial offering price was $24.41 per share, and the stock rose to $30.02 per share in the first few minutes of trading. Lesla Inc. paid $720,000 in direct legal and other costs, and $245,000 in indirect costs. What was the flotation cost as a percentage of funds raised? Multiple Choice 29.25% 24.65% 30.47%

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