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Harper’s Dog Pens, Inc., with the help of its investment bank,

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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. (Round your answers to 2 decimal places.)

Net proceeds $ per share
Underwriter’s spread $ per share

What percentage of the gross proceeds is the investment bank charging Harper’s Dog Pens for underwriting the stock issue? (Round your answer to 2 decimal places.)

Percent underwriting spread

 
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