Feldon inc has just gone public under a firm commitment, Financial Management

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Feldon inc has just gone public under a firm commitment

Feldon Inc has just gone public! Under a firm commitment agreement Feldon got $29.75 for each of the 6,300,000 shares sold. The IPO price was $32.50 and the stock closed at $37.75 on the 1st day of trading. Feldon paid $1.200,000 in legal & other direct costs plus $315,000 of indirect costs. What was the flotation cost as a % of funds raised?

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Financial Management: Feldon inc has just gone public under a firm commitment

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Financial Management: Feldon inc has just gone public under a firm commitment

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