Tee time golf resort found that jordan spieth wants to put his name on golf course designs. however, for any course to be acceptable, it will cost at least $20 million to build. the plan is to purchase real estate for four new golf resorts. proceeding with their venture, the owners have calculated that they will need approximately $100 million. but putting together an ipo is another matter. after meeting with their investment banker, they believe that investors will be willing to pay $22/share for the ipo. as the for this issue, the investment bank requires 3% of the revenues generated by the sale. tee time will need to issue shares in order to have the $100 million they need to proceed with their plan.