Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 14.40 160,000 14.20 200,000
Roundtree Software is going public using an auction IPO. The firm has received the following bids:
| Price ($) | Number of Shares |
| 14.40 | 160,000 |
| 14.20 | 200,000 |
| 14.00 | 520,000 |
| 13.80 | 1,150,000 |
| 13.60 | 1,280,000 |
| 13.40 | 880,000 |
| 13.20 | 460,000 |
Roundtree had previously believed it would issue
2,000,000 shares; however, if Roundtree decides to issue an extra
545,000 shares (for a total of
2,545,000 shares), how much total money will it raise?
A) Roundtree will raise a total amount of
$?
million.(Round to one decimal place.)
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