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A CFO of a company with a market capitalization of $13. The firm has 137 million shares outstanding, so the shares are trading at $13.97
A CFO of a company with a market capitalization of $13. The firm has 137 million shares outstanding, so the shares are trading at $13.97 per share. Each existing shareholder is sent one right for every share he or she owns. The CFO has not decided how many rights he will require to purchase a share of new stock. He will require either 2 rights to purchase one share at a price of $6.34 per share, or 4 rights to purchase two new shares at a price of $6.88 per share. How much money will the second approach raise? NOTE: Answer in Millions. If your answer is 403.2799M, answer 403.28
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