On January? 20, Metropolitan ?Inc., sold 9 million shares of stock in an SEO. The current market price of Metropolitan at the time was $ 42.50 per share. Of the 9 million shares? sold, 4 million shares were primary shares being sold by the? company, and the remaining 5 million shares were being sold by the venture capital investors. Assume the underwriter charges 5 % of the gross proceeds as an underwriting fee.? (which is shared proportionately between primary and secondary? shares).
a. How much money did Metropolitan ?raise?
b. How much money did the venture capitalists? receive?