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undefined Dean Drones Ltd., based in Hong Kong, has 1 million shares outstanding. The firm is planning on issuing an additional 130,000 shares at an
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Dean Drones Ltd., based in Hong Kong, has 1 million shares outstanding. The firm is planning on issuing an additional 130,000 shares at an offer price of $6 by way of crowdfunding. They have engaged a crowdfunding company, which agreed to a commission of 5% of the amount raised. Dean Drones has also planned to sell another 24,900 shares to a venture capitalist, who will only invest if the crowdfunding is successful. However, he will pay 75% of the offer price. How much cash will Dean Drones raise from these share sales? The total cash raised by Dean Drones from these share sales is $. (Round to the nearest dollar.)Step by Step Solution
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