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The Meadows Corporation needs to raise $63 million to finance its expansion into new markets. The company will sell new shares of equity via a
The Meadows Corporation needs to raise $63 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 $60 per share and the company's underwriters charge a spread of 5 percent. If the SEC filing fee and associated administrative expenses of the offering are $900,000, how many shares need to be sold? (Do not round intermediate calculations and enter your answer in shares, not millions, rounded to the nearest whole number, e.g., 1,234,567.)
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