The stocks closing price at the end of the first day is 84


Problem

Suppose a biotech company in Boston, Massachusetts, completes an $80 million IPO priced to the public at $75 per share. The firm receives $72 per share, and the out-of-pocket expenses are $392,000. The stock's closing price at the end of the first day is $84. What is the total cost to the firm of issuing the securities?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: The stocks closing price at the end of the first day is 84
Reference No:- TGS02782670

Expected delivery within 24 Hours