Convex Incorporated Sells 10 Million Shares of Stock in an SEO-8

question 17

Multiple Choice

Convex Incorporated sells 10 million shares of stock in an SEO-8 million being primary shares issued by the company and 2 million being secondary shares sold by investors in the company. At the time of the sale, Convex's stock was selling at $8.00. If the underwriter charges 4% of the gross proceeds as a fee, how much money was raised in the sale?

• A) $61.44 million
• B) $64.51 million
• C) $98.30 million
• D) $104.45 million

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