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 $100 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 $750,000. 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? Please show breakdown of the equation.

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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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