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Mathematics, 14.01.2020 07:31 4804341040

The sugarland co. has just gone public. under a firm commitment agreement, the company received $33.70 for each of the 4.27 million shares sold. the initial offering price was $36.10 per share, and the stock rose to $44.40 per share in the first few minutes of trading. the company paid $922,000 in legal and other direct costs and $284,000 in indirect costs. what was the flotation cost as a percentage of funds raised?

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