Zimba technology corp recently went public with an initial, Ask an Expert

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Zimba Technology Corp. recently went public with an initial public offering of 2.8 million shares of stock.

The underwriter used a firm commitment offering in which the net proceeds were $7.99 per share and the underwriter's spread was 6 percent of the gross proceeds.

Zimba also paid legal and other administrative costs of $253,000 for the IPO.

Calculate the gross proceeds per share. (Round your answer to 2 decimal places.) Gross proceeds $ per share

Calculate the total funds received by Zimba from the sale of the 2.8 million shares of stock. (Enter your answer in millions of dollars rounded to 3 decimal places.) Funds received by Zimba $ m

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M93052436

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