Reference no: EM131064080
The Collins Co. has just gone public. Under a firm commitment agreement, Collins received $33.00 for each of the 4.20 million shares sold. The initial offering price was $35.40 per share, and the stock rose to $43.00 per share in the first few minutes of trading. Collins paid $915,000 in legal and other direct costs and $270,000 in indirect costs.
(Enter the whole number for your answer, not millions (e.g., 1,234,567). Round your answer to the nearest whole number (e.g., 1,234,567).)
Required:
- What is the net amount raised?
- What are the total direct costs?
- What are the total indirect costs?
- What are the total costs?
- What was the flotation cost as a percentage of funds raised? (Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)
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What was the flotation cost as a percentage of funds raised
: The Collins Co. has just gone public. Under a firm commitment agreement, Collins received $33.00 for each of the 4.20 million shares sold. The initial offering price was $35.40 per share, and the stock rose to $43.00 per share in the first few minute..
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