The stocks closing price at the end of the first day is 84, Accounting Basics

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The stocks closing price at the end of the first day is 84

Problem

Suppose a biotech company in Boston, Massachusetts, completes an $80 million IPO priced to the public at $75 per share. The firm receives $72 per share, and the out-of-pocket expenses are $392,000. The stock's closing price at the end of the first day is $84. What is the total cost to the firm of issuing the securities?

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Accounting Basics: The stocks closing price at the end of the first day is 84

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Accounting Basics: The stocks closing price at the end of the first day is 84

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