Harper’s Dog Pens, Inc., with the help of its investment bank, recently issued 8.7 million shares of new stock. The offer price on the stock was $13.20 per share and Harper’s received a total of $107.88 million from the stock offering. Calculate the net proceeds per share and the underwriter's spread per share on the stock offering.
Net Proceeds____
Underwriter spread____
(Round your answers to 2 decimal places.)
What percentage of the gross proceeds is the investment bank charging Harper’s Dog Pens for underwriting the stock issue?