Question
Husker's Tuxedos needs to raise $251 million to finance its plan for nationwide expansion. In discussions with its investment bank, Husker's learns that the bankers
Husker's Tuxedos needs to raise $251 million to finance its plan for nationwide expansion. In discussions with its investment bank, Husker's learns that the bankers recommend an offer price (or gross price) of $40 per share and they will charge and underwriter's spread of $1.80 per share. Calculate the net proceed per share to Husker's from the sale of stock. Round your answer to 2 decimal places. How many shares of stock will Husker's need to sell in order to receive the $251 million needed? Round your final answer to the nearest whole number.
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