The Clifford Corporation has announced a rights offer to raise $72 million. The stock currently sells for $20 per share and there are 81 million shares outstanding. f the subscription price is set at $8 per share, how many shares must be sold? Enter your answer below. Correct: 9,000,000 Given that 9,000,000 new shares will be sold, how many rights will it take to buy one share? Enter your answer below. correct: 9 What is the ex-rights price (the share price after the offer is complete)? Round your answer to 2 decimal places. Enter your answer below.
The Clifford Corporation has announced a rights offer to raise $72 million. The stock currently sells for $20 per share and there are 81 million shares outstanding. f the subscription price is set at $8 per share, how many shares must be sold? Enter your answer below. Correct: 9,000,000 Given that 9,000,000 new shares will be sold, how many rights will it take to buy one share? Enter your answer below. correct: 9 What is the ex-rights price (the share price after the offer is complete)? Round your answer to 2 decimal places. Enter your answer below.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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