Question
Hoobastink Mfg. is considering a rights offer. The company has determined that the ex-rights price will be $60. The current price is $67 per share,
| Hoobastink Mfg. is considering a rights offer. The company has determined that the ex-rights price will be $60. The current price is $67 per share, and there are 30 million shares outstanding. The rights offer would raise a total of $60 million. |
| What is the subscription price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Subscription price: |
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Financial Institutions Management
Authors: Anthony Saunders
3rd Edition
007303259X, 978-0073032597
