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What profit would security brokers incur for beedles inc

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Reference no: EM132984145

Problem 1: Beedles Inc. needed to raise $14 million in an IPO and chose Security Brokers Inc. to underwrite the offering. The agreement stated that Security Brokers would sell 3 million shares to the public and provide $14 million in net proceeds to Beedles. The out-of-pocket expenses incurred by Security Brokers in the design and distribution of the issue were $440,000. What profit or loss would Security Brokers incur if the issue were sold to the public at the $5.5 per share average price?

Reference no: EM132984145

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