A company is planning an IPO of 10 million shares. Each share is expected to sell at $15 per share. The underwriters will charge a 6% spread and incur expenses of $1.5 million. All shares sell at the expected price. Price per share at the end of the first day is $16.50. The current price is $20. How much money was left on the table?
- $35 million
- $15 million
- None of the above
- $13.5 million
- $50 million