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Finance Assignment | Professional Writing

Author:
June 10th, 2020

NewCorp sold 180,000 shares in an initial public offering. The underwriter’s explicit fees were $66,000. The offering price for the shares was $36, but immediately upon issue, the share price jumped to $49. What is the best estimate of the total cost to Barnegat Light of the equity issue? (Hint: This was similar to a homework question)

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A. $2,406,000
B. $66,000
C. $2,274,000
D. $2,340,000

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