Multiple Choice
TV Technology Corp. recently went public with an initial public offering of 2 million shares of stock. The underwriter used a firm commitment offering in which the net proceeds was $50.75 per share and the underwriter's spread was 6 percent of the gross proceeds. TV Technology also paid legal and other administrative costs of $400,000 for the IPO. Calculate the gross proceeds per share received by TV Technology from the sale of the 2 million shares of stock.
A) $48.07
B) $50.95
C) $53.99
D) $54.20
Correct Answer:
Verified
Correct Answer:
Verified
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