The Tennis Shoe Company has concluded that additional equity financing will be needed to expand operations and that the needed funds will be best obtained through a rights offering. It has correctly determined that as a result of the rights offering, the share price will fall from $66 to $61.00 ($66 is the rights-on price; $61.00 is the ex-rights price, also known as the when-issued price). The company is seeking $14 million in additional funds with a per-share subscription price