Question
The Sullivan Co. needs to raise $65.6 million to finance its expansion into new markets. The company will sell new shares of equity via a
The Sullivan Co. needs to raise $65.6 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 $56 per share and the company's underwriters charge a spread of 9 percent.
How many shares need to be sold?
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Fundamentals Of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
13th Edition
1265553602, 978-1265553609
