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Zimba Technology Corp. recently went public with an initial public

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Zimba Technology Corp. recently went public with an initial public
offering of 3.4 million shares of stock. The underwriter used a firm commitment offering in which the net proceeds were $9.30 per share and the underwriter’s spread was 7 percent of the gross proceeds. Zimba also paid legal and other administrative costs of $259,000 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 3.4 million shares of stock. (Enter your answer in millions of dollars rounded to 3 decimal places.)

Funds received by Zimba $ m

 
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