Convex Incorporated Sells 10 Million Shares of Stock in an SEO

question 21

Multiple Choice

Convex Incorporated sells 10 million shares of stock in an SEO 6 million being primary shares issued by the company and 4 million being secondary shares sold by investors in the company.At the time of the sale,Convex's stock was selling at $8.00 per share.If the underwriter charges 6% of the gross proceeds as a fee,how much money was raised in the sale?

• A)$36.25 million
• B)$45.12 million
• C)$48.00 million
• D)$75.20 million

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Definitions:

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