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Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price () Number of Shares 15.00 14.80 14.60 14.40 14.20 14.00 13.80 180,000 220,000 540,000 1,000,000 1,280,000 800,000 480,000 Roundtree had previously believed it would issue 1,900,000 shares; however, if Roundtree decides to issue an extra 503,000 shares (for a total of 2,403,000 shares), how much total money will it raise? Roundtree will raise a total amount of S| | million. (Round to one decimal place.)

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Answer #1

We will divide the Slots till we come up to 2,403,000 number of shares. For the first 4 slots we will take the full amount and from the fifth slot we will take only 463000 number of shares to complete 2,403,000 number of shares that we will issue actually.

Please find the below screenshot to know in details the exact amount Roundtree will raise from issuing IPO of 2,403,000 number of shares.

Bookl Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW ADO-INS S Cut EB Copy AutoSumA Fill Clear Calibri General Paste Sort &Find& B 1 u 田▼ 의 .Av 喦Merge & Center ¥ % , 留-28 Conditional Format as Cell Insert Delete Format 栏左 ¥ Format Painter ormatting TableStyles Filter Select Font Alignment Cells Editing Total number of Shares to be issued are 24,03,000 shares Number of Shares Price Price of Shares Slot 1 Slot 2 Slot 3 Slot 4 Slot 5 1,80,000 2,20,000 5,40,000 10,00,000 4,63,000 14.8 14.6 14.4 14.2 12 13 6574600 34814600 Total Money 34.81 Million Dollars 15 16 18 19 20 Sheetl 豳回凹 + 100% 30-01-2019

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