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Business, 12.12.2019 00:31 valerieaj113

Moonscape has just completed an initial public offering. the firm sold 6 million shares at an offer price of $6 per share. the underwriting spread was $0.40 a share. the price of the stock closed at $9.00 per share at the end of the first day of trading. the firm incurred $100,000 in legal, administrative, and other costs. what were flotation costs as a fraction of funds raised? fraction of funds raised __ %.

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