How much did internet ideas

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Internet Ideas, Inc. is offering 20,000 shares in an initial public offering. The underwriters have agreed upon a best efforts offering with an offer price of $27 and a 5 percent spread. The underwriters were able to sell 18,500 shares to the general public. The stock opened at a price of $31 a share on its first day of trading. How much did Internet Ideas, Inc. receive from this offering?

Reference no: EM131970756

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