If a company went public at $10 per share and the shares immediately upon reaching the public sell for $13, the $3 windfall gain goes to the underwriter.

Name: If a company went public at $10 per share and the shares immediately upon reaching the public sell for $13, the $3 windfall gain goes to the underwriter.
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The $3 windfall gain goes to the initial investors who were able to purchase the shares at the $10 offering price, not to the underwriter.

If a Company Went Public at $10 Per Share and the Shares