Zimba Technology Corp. recently went public with an initial public offering of 2.5 million shares of stock. The underwriter used a firm commitment...

Zimba Technology Corp. recently went public with an initial public offering of 2.5 million shares of stock. The underwriter used a firm commitment offering in which the net proceeds were $7.59 per share and the underwriter's spread was 8 percent of the gross proceeds. Zimba also paid legal and other administrative costs of $270,000 for the IPO.