Alcorn Metals Just Sold 2

question 9

Multiple Choice

Alcorn Metals just sold 2.0 million shares through an IPO offering. The shares were offered at $23.50 a share and all shares were sold. The firm received a total of $50,290,000 for this issue. What was the spread?

• A)5.49%
• B)6.24%
• C)6.40%
• D)7.00%
• E)7.12%

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Definitions:

Compound Suffix

A suffix consisted of more than one element, used in the creation of complex words, especially in the construction of scientific terminology.

Anti-

A prefix meaning against, opposing, or counteracting, often used in medical and scientific contexts.

Contra-

A prefix meaning against, opposite or contrasting.

Endo-

A prefix meaning within or inside, used in medical and scientific terms to denote inner structures or conditions.