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[solution]: 6. Calculating Flotation Costs In the previous problem, if the SEC filing fee and associated...


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6.        Calculating Flotation Costs   In the previous problem, if the SEC filing fee and associated administrative expenses of the offering are $900,000, how many shares need to be sold? 7.        Calculating Flotation Costs    The Raven Co. has just gone public. Under a firm commitment agreement, Raven received $17.67 for each of the 15 mil- lion shares sold. The initial offering price was $19 per share, and the stock rose to $23.18 per share in the first few minutes of trading. Raven paid $900,000 in direct legal and other costs and $320,000 in indirect costs. What was the flotation cost as a percentage of funds raised?    

 


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