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Calculating costs of issuing stock turbo technology corp

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Calculating Costs of Issuing Stock Turbo Technology Corp. recently went public with an initial public offering of 3.00 million shares of stock. The underwriter used a firm commitment offering in which the net proceeds was $7.50 per share and the underwriter's spread was 9 percent of the gross proceeds. Turbo also paid legal and other administrative costs of $200,000 for the IPO. Calculate the gross proceeds per share received by Turbo from the sale of the 3.00 million shares of stock.

Reference no: EM131224048

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