Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. escape works decided to go public by offering a to

Escape Works decided to go public by offering a total of 135,000 shares of common...

60.1K

Verified Solution

Question

Finance

Escape Works decided to go public by offering a total of 135,000 shares of common stock to the public. The company hired an underwriter who arranged a firm commitment underwriting and an initial selling price of $24 a share with a spread of 8.3 percent. As it turned out, the underwriters only sold 122,400 shares to the public. What is the amount paid to the issuer?
a.
$2,692,820
b.
$3,074,420
c.
$2,227,280
d.
$2,971,080
e.
$2,477,380

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What scenario could be modeled by the graph of the function f t 150 1...

Basic Math
Q

Discuss validity and reliability as "confounding variables" and how can they negatively impact the results of...

Basic Math
Q

Electrostatic Potential and Capacitance 9 The plates in a parallel plate capacitor are separated by...

Physics
Q

23 cos 50 sin

Geometry
Q

Use the Fisher equation to fill in the blanks in the following table Inflation rate...

Basic Math
Q

To test Ho H 107 versus H 107 a simple random sample of size n...

Statistics
Q

10 8 6 4 30 a 24 18 12 y 12 18 24 30 10...

Algebra
Q

Direct Materials and Direct Labor VariancesAt the beginning of April, Winslow Toy Company...

Accounting
Q

Parkovash, Incorporated, obtained 100 percent of Salerno Companys common stock on January 1,2023,...

Accounting
Q

Evaluate the Enron Fraud and assess the impact of subsequent changes to corporate governance, accounting...

Accounting
Q

SBD Phone Company sells its cordless phone for $90 per unit. Fixed costs total $162m00,...

Accounting
Q

The file is a Balance Sheet for The Ford Motor Company. You need to format...

Finance