CHAPTER 4: MUTUAL FUNDS AND

Underwriting spread: $1.30 ( 800,000 = $1.04 million. Other direct costs = $0.40 million. Total = $1.44 million. Funds raised = $12 ( 800,000 = $9.6 million. From Figure 14-1, direct costs for IPOs in the range of $2 to $10 million have been approximately 17%. Direct costs for IPOs in the range of $10 to $20 million have been approximately 12%. ................
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