Multiple Choice
ABC Underwriters handled the IPO for your firm. The underwriting consisted of 1.5 million shares at an offer price of $13 a share. ABC did this on a best effort basis and charged a 7% underwriting fee. Your firm received a total of $11,751,480 as IPO proceeds. How many shares of the IPO offering were sold
A) 903,970 shares
B) 925,500 shares
C) 945,840 shares
D) 972,000 shares
E) 967,790 shares
Correct Answer:
Verified
Correct Answer:
Verified
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