House mountain breweries hmb is planning an ipo its, Financial Management

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House mountain breweries hmb is planning an ipo its

House Mountain Breweries (HMB) is planning an IPO. Its underwriters have said that the stock will sell at $25 per share. The direct costs (legal, printing, etc.) will be $750,00. The underwriters will charge a 7 percent spread.

a) How many shares must HMB sell to net $30 million?

b) If the stock price closes the first day at $27, how much has HMB left on the table?

c) What are HMB’s total costs (direct, indirect, and underwriting) for the IPO?

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