Homework Answers
Gross Proceeds from offer = Offer Price * No. of shares issued = $25 * 3,000,000 = $75,000,000
Proceeds to underwriting = Gross Proceeds from offer * Underwriting Spread
= $75,000,000 * 0.06 = $4,500,000
Proceeds to Issuer = (Actual Price * No. of shares issued) - Proceeds to Underwriting
= ($24 * 3,000,000) - $4,500,000 = $72,000,000 - $4,500,000 = $67,500,000
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