Question
25. PinderLtd currently has 5 million shares outstanding that are trading at $18 per share. Due to some unforeseen problems, Pinder Ltd needs quick access
25.
PinderLtd currently has 5 million shares outstanding that are trading at $18 per share. Due to some unforeseen problems, Pinder Ltd needs quick access to capital and decides to raise $1 million placing 100,000 shares at $10 each to a financial institution. Based only on the information above, how much does this financial institution gain from this placement?(Show all your work.)
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Fundamentals Of Financial Management
Authors: James Van Horne, John Wachowicz
13th Revised Edition
978-0273713630, 273713639
