Question: Zimba Technology Corp. recently went public with an initial public offering of 3.0 million shares of stock. The underwriter used a firm commitment offering in

Zimba Technology Corp. recently went public with an initial public offering

Zimba Technology Corp. recently went public with an initial public offering of 3.0 million shares of stock. The underwriter used a firm commitment offering in which the net proceeds were $8.74 per share and the underwriter's spread was 8 percent of the gross proceeds. Zimba also paid legal and other administrative costs of $255,000 for the IPO. Calculate the gross proceeds per share. (Round your answer to 2 decimal places.) Gross proceeds $ 9.51 per share Calculate the total funds received by Zimba from the sale of the 3.0 million shares of stock. (Enter your answer in millions of dollars rounded to 3 decimal places.) Funds received by Zimba $ m

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