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Calculate the amount of lost proceeds on this first day

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Deluxe Furnishings, Inc. is planning to offer its stock to the general public in an Initial Public Offering (IPO). Deluxe Furnishings has hired the Stanton Security Advisers investment banking firm to represent it in this IPO process. Assume that Stanton Security offers the stock of Deluxe Furnishings to the general public for $45.00 per share. However, at the conclusion of trading on the stock market on the first day of this IPO, the closing price per share for Deluxe Furnishings' stock was $52.50. On this first trading day, 550,000 shares of Deluxe Furnishings' stock was sold.

Problem 1: Based on this information, calculate the amount of "lost" proceeds on this first day of the Deluxe Furnishings' IPO.

Reference no: EM132877422

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