Rights Hoobastink Mfg. is considering a rights offer. The company has determined that the ex-rights price would
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Rights Hoobastink Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $52. The current price is $55 per share, and there are 5 million shares outstanding. The rights offer would raise a total of $60 million. What is the subscription price? LO.1
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