Business, 11.02.2020 21:49 hrijaymadathil

The Raven Co. has just gone public. Under a firm commitment agreement, Raven received $18.50 for each of the 20 million shares sold. The initial offering price was $22.80 per share, and the stock rose to $24.60 per share in the first few minutes of trading. Raven paid $580,000 in direct legal and other costs and $190,000 in indirect costs. What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.) Flotation cost %

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The Raven Co. has just gone public. Under a firm commitment agreement, Raven received $18.50 for eac...