TV Technology Corp

question 46

Multiple Choice

TV Technology Corp. recently went public with an initial public offering of 1.5 million shares of stock. The underwriter used a firm commitment offering in which the net proceeds was $24.50 per share and the underwriter's spread was 5 percent of the gross proceeds. TV Technology also paid legal and other administrative costs of $300,000 for the IPO. Calculate the gross proceeds per share received by TV Technology from the sale of the 1.5 million shares of stock.

• A) $24.50
• B) $24.70
• C) $25.79
• D) $26.00

---

Definitions:

Human Body

The physical structure of a human being, comprising various biological systems and organs.

Interaction

A reciprocal action or influence between entities, objects, persons, or other variables.

Personality Traits

Enduring characteristics that describe an individual's consistent behaviors, thoughts, and emotional patterns.

Swimmers

Athletes who engage in the sport or activity of moving through water by using their limbs.