dorafacegirl
28.05.2021 •
Business
Lesla Inc. has just gone public. Under a firm commitment agreement, Lesla Inc. received 27.25 for each of the 6 million shares sold. The initial offering price was $29.43 per share, and the stock rose to $37.67 per share in the first few minutes of trading. Lesla Inc. paid $1,080,000 in direct legal and other costs, and $378,000 in indirect costs. What was the flotation cost as a percentage of funds raised?
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