Braynerd Chemicals Sells 40 Million Shares of Stock in an SEO-25

question 10

Multiple Choice

Braynerd Chemicals sells 40 million shares of stock in an SEO-25 million being primary shares issued by the company and 15 million being secondary shares sold by investors in the company. At the time of the sale, Braynerd's stock was selling at $21.00 per share. If the underwriter charges 5% of the gross proceeds as a fee, how much money was raised in the sale?

• A) $374.06 million
• B) $423.94 million
• C) $498.75 million
• D) $573.56 million

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