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Tetus Corporation Went Public with an Initial Public Offering of 2.5

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Tetus Corporation went public with an initial public offering of 2.5 million shares of stock.The underwriter used a firm commitment offering in which the net proceeds was $8.05 per share and the underwriter's spread was 8% of the gross proceeds.Tetus also paid legal and other administrative costs of $250,000 for the IPO.Calculate the gross proceeds and the total funds received from the sale of the 2.5 million shares of stock.

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Definitions:

Connectivity

The state of being connected or interconnected, often referring to the ability of devices or systems to link with each other through communication paths.

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