Sampson Corporation, through its investment banker, First Ohio Securities, recently sold 200,000 shares of common stock...
Sampson Corporation, through its investment banker, First Ohio Securities, recently sold 200,000 shares of common stock to the public, grossing $7.4 million. Issuing expenses paid by Sampson totaled $200,000, and the underwriter's spread was $3 per share. How much net financing did Sampson Corporation raise in the deal?
Homework Answers
Net financing = Gross proceeds - Issuing Expenses - Underwriter Spread
= 7,400,000 - 200,000 - 200,000*3
= $6,600,000
or $6.6 million
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