On January 20, Sullivan Inc.sold 9 million shares of stock in an SEO. The marketprice of Sullivan at the time was $41.50 pershare. Of the 9 millionshares sold, 5 million shares were primary sharesbeing sold by the company, and the remaining 4millionshares were being sold by the venture capital investors. Assume theunderwriter charges 5.4% of the gross proceeds as anunderwriting fee.
a.
b.
How much money did the venture capitalists receive? (Round to 2 decimal places)
c.
On January 20, Sullivan Inc. sold 9 million shares of stock in an SEO. The market price of Sullivan at the time was $41
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answerhappygod
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