Bubba Corporation has a registered public offering of 500,000 shares at $36. Of these, 300,000 shares were authorized by unissued and 200,000 shares were sold on behalf of an affiliated person.
What is evident from this information?
A.
the entire proceeds of the offering are a primary offering accruing to the corporation
B.
300,000 shares are identified as a primary distribution
C.
60% of the proceeds are paid to the corporation and the balance accrues to the affiliated person
both B and C. The 200,000 shares are sold on behalf of the affiliated person so the proceeds go to that individual. Only the other 300,000 shares are a primary offering.
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