Tweet Inc. is planning its initial public offerings (IPO). The firms current value of equity is estimated to be $750 million. The founder of Tweet Inc. and a few venture capital funds together hold all the 48 million existing shares, and they want to retain 75% of the firm after the IPO. The floatation costs, including underwriting fees charged by Silverman Sachs, the investment bank, will be 10% of the proceeds. How many shares will be sold and for how much per share?

Please show work using Financial Calculator not excel.