The wiley oakley co has just gone public under a firm, Ask an Expert

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The Wiley Oakley Co. has just gone public. Under a firm commitment agreement, the company received $21.45 for each of the 6.63 million shares sold. The initial offering price was $23.30 per share, and the stock rose to $29.81 per share in the first few minutes of trading. The company paid $913,000 in legal and other direct costs and $188,000 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.:- M92396218

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