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The Sullivan Co. needs to raise $66.8 million to finance its expansion into new markets. The company will sell new shares of equity via a
The Sullivan Co. needs to raise $66.8 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 $68 per share and the company's underwriters charge a spread of 9 percent.How many shares need to be sold?
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