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Carbon8 corporation wants to raise 120 million in a seasonal equity offering, net sales of all fees. Carbon8 stock currently sells for 28.00 per share.
Carbon8 corporation wants to raise 120 million in a seasonal equity offering, net sales of all fees. Carbon8 stock currently sells for 28.00 per share. The underwriters will require a fee of 1,25 per share and indicate that the issue must be underpriced by 7.5%. In addition to the underwriter's fee, the firm will incur 785,000 in legal, administrative and other costs. How many shares must Carbon8 sell in order to raise the desired amount of capital?
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