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The IBBS Co. needs to raise $65.3 million to finance its expansion into new markets. The company will sell new shares of equity via a
The IBBS Co. needs to raise $65.3 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. The offer price is $53 per share and the companys underwriters charge an 9.5 percent spread. |
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If the SEC filing fee and associated administrative expenses of the offering are $453,000, how many shares need to be sold? |
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