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Posts: 182
A month ago
Braynerd Chemicals sells 40 million shares of stock in an SEO—35 million being primary shares issued by the company and 5 million being secondary shares sold by investors in the company. At the time of the sale, Braynerd's stock was selling at $22.50 per share.  If the underwriter charges 6% of the gross proceeds as a fee, how much money was raised in the sale?

▸ $740.25 million

▸ $553.00 million

▸ $620.85 million

▸ $846.00 million
Textbook 
Fundamentals of Corporate Finance
Edition: 2nd
Authors:
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A month ago
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$740.25 million
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