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Bellex Technologies agreed to complete its IPO on a best-effort basis. The company’s investment bank demanded a spread of 6 percent of the offer price, which was set at $26.10 per share. Three million shares were issued; however, the bank was overly optimistic and eventually was able to sell all of the stock for only $24.10 per share. What were the proceeds for the issuer and the underwriter?

Proceeds to issuer $____________

Proceeds to underwriting $____________

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92758310

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