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Business, 14.02.2020 20:21 Undrea43

He Raven Co. has just gone public. Under a firm commitment agreement, Raven received $18.60 for each of the 30 million shares sold. The initial offering price was $19.40 per share, and the stock rose to $22.40 per share in the first few minutes of trading. Raven paid $640,000 in direct legal and other costs and $220,000 in indirect costs. What was the flotation cost as a percentage of funds raised?

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He Raven Co. has just gone public. Under a firm commitment agreement, Raven received $18.60 for each...

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