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Magenta Corporation wants to raise $ 5 1 . 3 million in a seasoned equity offering, net of all fees. Magenta stock currently sells for
Magenta Corporation wants to raise $ million in a seasoned equity offering, net of all fees. Magenta stock currently sells for $ per share. The underwriters will require a spread of $ per share, and indicate that the issue must be underpriced by percent. In addition to the underwriter's fee, the firm will incur $ in legal, accounting, and other costs. How many shares must Magenta sell?
Note: Enter your answer in millions rounded to decimal places.
million
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