True/False Question 7 MoonCorp's current share price is $20 per share and the total share outstanding is 20 million. MoonCorp decides to raise $38 million by placing 2 million shares at $19 each to a group of financial institutions. This issue must be approved by its shareholders because more than 1 million shares are placed with institutions and because there is a transfer of wealth from old to new shareholders. True/False