Computing how much money was raised in the sale

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Question: Convex Incorporated sells 10 million shares of stock in an SEOlong dash-55 million being primary shares issued by the company and 55 million being secondary shares sold by investors in the company. At the time of the sale, Convex's stock was selling at $ 7.0$7.0 per share. If the underwriter charges 66% of the gross proceeds as a fee, how much money was raised in the sale?

Reference no: EM131962672

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