Zimba Technology Corp. recently went public with an initial public offering of 2.8 million shares of stock.
The underwriter used a firm commitment offering in which the net proceeds were $7.99 per share and the underwriter's spread was 6 percent of the gross proceeds.
Zimba also paid legal and other administrative costs of $253,000 for the IPO.
Calculate the gross proceeds per share. (Round your answer to 2 decimal places.) Gross proceeds $ per share
Calculate the total funds received by Zimba from the sale of the 2.8 million shares of stock. (Enter your answer in millions of dollars rounded to 3 decimal places.) Funds received by Zimba $ m