I couldn't tell you as to the financing side of things as to the exact mechanics in play. There literally is a "Chinese Wall" between the banking side and the trading side that prevents the flow of information between the two especially when an IPO is in play. The two sides do not talk as that would be a conflict of interest.
You would need to find someone who is familiar with the financing side of how it works to get a full understanding of the how and where the money moves.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.