The collins co has just gone public under a firm commitment, Ask an Expert

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The Collins Co. has just gone public. Under a firm commitment agreement, the company received $33.20 for each of the 4.22 million shares sold. The initial offering price was $35.60 per share, and the stock rose to $43.40 per share in the first few minutes of trading. The company paid $917,000 in legal and other direct costs and $274,000 in indirect costs.

What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Flotation cost percentage:_________%

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92102692

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