Harper’s Dog Pens, Inc., with the help of its investment bank, recently issued 9.0 million shares of new stock. The offer price on the stock was $12.70 per share and Harper’s received a total of $110.70 million from the stock offering.
Calculate the net proceeds per share and the underwriter's spread per share on the stock offering. (Round your answers to 2 decimal places.)
Net proceeds $ per share
Underwriter’s spread $ per share
What percentage of the gross proceeds is the investment bank charging Harper’s Dog Pens for underwriting the stock issue?