Question: QUESTION 9 Moonscape has just completed an initial public offering. The firm sold three million shares at an offer price of $7 per share. The

QUESTION 9 Moonscape has just completed an initial public offering. The

QUESTION 9 Moonscape has just completed an initial public offering. The firm sold three million shares at an offer price of $7 per share. The underwriting spread was $0.5 a share. The price of the stock closed at $9 per share at the end of the first day of trading. The firm incurred $130,000 in legal, administrative, and other costs. What were flotation costs as a fraction of funds raised? TT T Arial 3 (12pt) T-E S s Path:p Words:0

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