Roundtree had previously believed it would issue 2,100,000 shares; however, if Roundtree decides to issue an extra 546,000 shares (for a total of 2,646,000 shares), how much total money will it raise?

Roundtree had previously believed it would issue 2,100,000 shares; however, if Roundtree decides to issue an extra 546,000 shares (for a total of 2,646,000 shares), how much total money will it raise?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

AM. 103.

Roundtree Software is going public using an auction IPO. The firm has received the
following bids:
Price ($)
15.00
14.80
14.60
14.40
14.20
14.00
13.80
Number of Shares
140,000
260,000
560,000
1,150,000
1,240,000
820,000
460,000
Roundtree had previously believed it would issue 2,100,000 shares; however, if
Roundtree decides to issue an extra 546,000 shares (for a total of 2,646,000
shares), how much total money will it raise?
Roundtree will raise a total amount of $
million. (Round to one decimal place.)

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