Alco Metals Just Sold 2

question 25

Multiple Choice

Alco Metals just sold 2.7 million shares through an IPO offering. The shares were offered at $21 a share and all shares were sold. The firm received a total of $60,385,500 for this issue. What was the spread?

• A) 5.50 percent
• B) 6.25 percent
• C) 6.50 percent
• D) 7.00 percent
• E) 7.25 percent

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