Kelly Girl's Golf Games, Inc

question 40

Multiple Choice

Kelly Girl's Golf Games, Inc., with the help of its investment bank recently issued 1.5 million shares of new stock. The offer price on the stock was $36.25 per share and Kelly Girl's Golf Games received a total of $50,000,000 through this stock offering. Calculate the net proceeds and the underwriter's spread on the stock offering. What percentage of the gross price is the investment bank charging Kelly Girl's Golf Games for underwriting the stock issue?

• A) 7.39 percent
• B) 7.64 percent
• C) 7.12 percent
• D) 8.05 percent

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