The firms stock price increased 17 percent on the first day, Financial Management

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The firms stock price increased 17 percent on the first day

Trajax, Inc., a high-technology firm in Portland, raised a total of $120 million in an IPO. The company received $27 of the $30 per share offering price. The firm's legal fees, SEC registration fees, and other out-of-pocket costs were $700,000.

The firm's stock price increased 17 percent on the first day of trading. What was the total cost to the firm of issuing the securities?

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Financial Management: The firms stock price increased 17 percent on the first day

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Financial Management: The firms stock price increased 17 percent on the first day

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