Suppose that a biotech firm in Pittsburgh raised $114 million in an IPO. The firm received...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6649423ad0730_1146649423a32795.jpg)
Transcribed Image Text:
Suppose that a biotech firm in Pittsburgh raised $114 million in an IPO. The firm received $23 per share, and the stock sold to the public for $25 per share. The firm's legal fees, SEC registration fees, and other out-of-pocket costs were $260,000. The firm's stock price increased 17.5 percent on the first day. What was the total cost to the firm of issuing the securities? Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) Total cost of issuing the securities $ Suppose that a biotech firm in Pittsburgh raised $114 million in an IPO. The firm received $23 per share, and the stock sold to the public for $25 per share. The firm's legal fees, SEC registration fees, and other out-of-pocket costs were $260,000. The firm's stock price increased 17.5 percent on the first day. What was the total cost to the firm of issuing the securities? Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) Total cost of issuing the securities $
Expert Answer:
Posted Date:
Students also viewed these finance questions
-
rewrite/downside Integrity and credibility are the ethics of professional practice that Juan Gomez was lacking in this instance. Juan Gomez lacked integrity because he created a conflict of interest...
-
Cable AB exerts a force of 80 N on the end of the 3-m-long boom OA. Determine the magnitude of the projection of this force along theboom. 4 m 80 N 60 3 m
-
A music school has budgeted to purchase three musical instruments. They plan to purchase a piano costing \($3,000\), a guitar costing \($550\), and a drum set costing \($600\). The mean cost for a...
-
distinguish cultures that stress individualism from those that stress collectivism;
-
Tenneco, Inc., produces three models of tennis rackets: standard, deluxe, and pro. Following are the sales and cost information for 2011: Fixed manufacturing support costs are $800,000, and fixed...
-
Timberly Construction makes a lump - sum purchase of several assets on January 1 at a total cash price of $ 8 3 0 , 0 0 0 . The estimated market values of the purchased assets are building, $ 4 4 1 ,...
-
please answer all three questions D Question 1 4 pts Car Sharing Yaster Car Sharing offers a membership plan with a $54 per month fee that includes 12 hours of driving each month and charges $11 for...
-
McCombs Contractors received a contract to construct a mental health facility for $ 2 , 5 0 0 , 0 0 0 . Construction was begun in 2 0 2 3 and completed in 2 0 2 4 . Cost and other data are presented...
-
1. Given Q = 2P-250, what is P? (write down P as a function of Q) 2. P and Q are determined by a system of equations. Solve for P and Q. Q = 2P-250 P = 500 - Q 3. Given R = 300Q-0.5Q. What is the...
-
1 . Information about German Industries for the month ending March 3 1 , 2 0 2 4 , is as follows: Sales $ 9 0 0 , 0 0 0 Cost of goods sold 6 0 0 , 0 0 0 Net operating income : 1 0 0 , 0 0 0 Beginning...
-
A company based in Illinois has invented a way to make pepperoni out of soy beans, and this pepperoni product has developed a niche market among pizzerias in Anaheim. The owner, Mr. Bean, has asked...
-
Four months after the merger between two auto insurance companies, Green Lizard and Global Promise, Priya Shama was hired to oversee the merger of the claims department for both companies. The newly...
-
The regression model estimates the relationship between the dependent and independent variables, allowing for the prediction of future values based on the values of the independent variables. This...
-
What is the order p of a B + -tree? Describe the structure of both internal and leaf nodes of a B + -tree.
-
One particular definition is given for stress. Do you think it describes what stress is to you? Why or why not? Can you find another definition that more closely matches your sense of stress?
-
Continuation of P10-35B: cash budgets (Learning Objective 3) Refer to P10-35B. Go Sports' sales are \(50 \%\) cash and \(50 \%\) credit (use sales on the last two lines of P10-35B). Credit sales are...
-
What are the five factors that influence stress?
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App