On March 15, Horizon Enterprises, LLC, offloaded 12 million shares of equity in an IPO. The prevailing market value of Horizon at that moment stood at $28.75 per share. Out of the total shares sold, 7 million were primary shares offered by the corporation, while the remaining 5 million shares were made available by the angel investors. Supposing the underwriter levies a 4% underwriting fee based on the total earnings (to be divided proportionately between primary and secondary shares). 

a. How much money did Horizon raise? 

b. How much money did the angel investors receive?

Answer rating: 100% (QA)

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