Dienz Pharma plans to issue an IPO on a best-effort basis. The company's investment bank demands a spread of 16 percent of the selling price. The selling price is $32 per share. Three million shares are issued. What are the proceeds for the issuer?
A) $96.00 million
B) $78.75 million
C) $80.64 million
D) None of the above
Correct Answer:
Verified
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