Alco Metals just sold 2.7 million shares through an IPO offering. The shares were offered at $21 a share and all shares were sold. The firm received a total of $60,385,500 for this issue. What was the spread?
A) 5.50 percent
B) 6.25 percent
C) 6.50 percent
D) 7.00 percent
E) 7.25 percent
Correct Answer:
Verified
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