The Zuri Co. needs to raise $65.3 million to finance its expansion
Question: The Zuri Co. needs to raise $65.3 million to finan…
The Zuri Co. needs to raise $65.3 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. The offer price is $53 per share and the company’s underwriters charge a spread of 9.5 percent.
How many shares need to be sold? (Do not round intermediate calculations and enter your answer in shares, not millions of shares, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)
Number of shares offered:_______
The Zuri Co. needs to The Zuri Co. needs to raise The Zuri Co. needs to raise $65.3 The Zuri Co. needs to raise $65.3 million The Zuri Co. needs to raise $65.3 million to The Zuri Co. needs to raise $65.3 million to finance The Zuri Co. needs to raise $65.3 million to finance its The Zuri Co. needs to raise $65.3 million to finance its expansion