The IBBS Co. needs to raise $65 million to finance its expansion into new markets. The company
Question:
The IBBS Co. needs to raise $65 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. If the offer price is $50 per share and the company’s underwriters charge an 8 percent spread, how many shares need to be sold?
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Step by Step Answer:
Using X to stand for the required sale proceeds the equation to calculate ...View the full answer
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Related Book For 
Essentials Of Corporate Finance
ISBN: 9780073382463
7th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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