Question: You will find a final prospectus of a recent initial public offering (IPO) at this link: https://www.sec.gov/Archives/edgar/data/1564408/000119312517068848/d270216d424b4.htm. On the first page of the prospectus, please
You will find a final prospectus of a recent initial public offering (IPO) at this link: https://www.sec.gov/Archives/edgar/data/1564408/000119312517068848/d270216d424b4.htm. On the first page of the prospectus, please find the following information related to the IPO: (a1) The names of the two lead underwriters [hint: if youre not sure from the tombstone page, see the Table of Contents or the LockUp Agree ment paragraph], (a2) The names of the other investment banks in the underwriting syndicate, (b) The total pro ceeds from the offering that went to the company (an aside: these are the proceeds that came from issuing what are called primary shares), (c) The total proceeds from the offering that went to selling shareholders (an aside: these are the proceeds that came from issuing what are called secondary shares), and (d) The percentage spread received by the underwriter for its services (calculated as ( Price Per Share Paid by Public Price Per Share Paid by Underwriter ) / Price Per Share Paid by Public). [In my opinion, this spread should really be referred to as a discount, but industry standard is to call it a spread.]
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