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Moonscape has just completed an initial public offering. The firm sold 3 million shares at an offer price of $10 per share. The underwriting spread was $.50 a share. The price of the stock closed at $15 per share at the end of the first day of trading. The firm incurred $300,000 in legal, administrative, and other costs. What were flotation costs as a fraction of funds raised?

What is the cost as percent of funds rasied?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92400405

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