Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. under a firm commitment agreement, zeke, co. went

Under a firm commitment agreement, Zeke, Co. went public and received $34.75 for each of...

50.1K

Verified Solution

Question

Finance

Under a firm commitment agreement, Zeke, Co. went public and received $34.75 for each of the 8.7 million shares sold. The initial offer price was $37 and the stock rose to $40.88. The company paid $560,000 in direct flotation costs and $215,000 in indirect costs. What was the flotation cost as a percentage of funds raised?

(A) 22.89%

(B) 17.94%

(C) 27.92%

(D) 6.68%

(E) 26.47%

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

Identify the components in a muscle unit and explain how they are recruited during a contraction...

Medical Sciences
Q

Two astronauts are 137m away from their spacecraft and both are untethered. The larger one of...

Physics
Q

5. Arsalaan A., a well-known financial analyst, selected 50 consecutive years of U.S. financial markets data...

Basic Math
Q

In order for applicants to work for the foreign-service department, they must take a test...

Basic Math
Q

Step 2 of 2 Find two points on the line to graph the function Answer...

Calculus
Q

The limit represents f c for a function f x and a number c Find...

Calculus
Q

8 g x 2x 1 In x a We x 3 3 x 1 x...

Calculus
Q

Calculate acute angles only without a calculator 5 1 1 If sin Asin B the...

Algebra
Q

Exercise 12-6 (Algo) Income allocation in a partnership LO P2 Ramer and Knox began a...

Accounting
Q

Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of...

Accounting
Q

for the years 2012, 2013, and 2014, the sales of Red line, inc. are $40000,...

Accounting
Q

Assume that you have a $100,000 account and you are willing to risk 5% of...

Finance