Multiple Choice
ABC Inc. offered 2.5 million shares of stock at an offering price of $21 a share in an IPO. The sale was conducted on a best effort basis with a spread of 6% of the offering price. ABC received a total of $39,983,370 in proceeds from the sale. How many shares are sold?
A) 1,903,970 shares
B) 2,025,500 shares
C) 2,345,840 shares
D) 2,550,000 shares
E) 2,667,790 shares
Correct Answer:
Verified
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