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You founded a firm that currently has 16 million shares, of which you own 9 million. You are considering an IPO where you would sell
You founded a firm that currently has 16 million shares, of which you own 9 million. You are considering an IPO where you would sell 2 million shares for $19 each. If all of the shares sold are secondary, what is the maximum number of secondary shares you could sell and still retain more than 50% ownership of the firm? How much would the firm raise in that case? (Round to the nearest whole number)
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