Problemmyriad biotech plans a 114 million ipo in which the, Ask an Expert

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Problem:

Myriad Biotech plans a $114 million IPO in which the offering price to the public will be $51 per share. The company will receive $43 per share. The firms legal fees, SEC registration fees, and other out-of-pocket costs will t otal $525,000.

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Question: If the stock price increases 14 percent on the first day of trading, what will be the total cost of issuing the securities?

Note: Please describe comprehensively and provide step by step solution.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91169632

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