Number of shares offered

Assignment Help Financial Management
Reference no: EM131043606

The Elkmont Corporation needs to raise $52.4 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 $40 per share and the company’s underwriters charge a spread of 8 percent. (Enter your answer as directed, but do not round intermediate calculations.)

Required:

How many shares need to be sold? (Enter the whole number for your answer, not millions (e.g., 1,234,567). Round your answer to the nearest whole number (e.g., 1,234,567).)

Number of shares offered ______________

Reference no: EM131043606

Questions Cloud

Why is it important to elijah wald thesis to argue : The Blues Queens of the 1920s represent a significant evolution of black performance style beyond black-face minstrelsy. However, they also present a racially stereotyped or confining set of performance practices. Discuss this dichotomy.
Associated administrative expenses of offering : The Elkmont Corporation needs to raise $52.8 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 $44 per share and the company’s under..
Create a high-quality report and presentation : 2. By submitting this assignment and cover sheet electronically, in whatever form, you are deemed to have made the declaration set out on the above form.
What is the molar mass of the acid : The volume of end point titration is 20.5ml. What is the molar mass of the acid (assuming it is diprotic and that the end point corresponds to the second equivalence point)?
Number of shares offered : The Elkmont Corporation needs to raise $52.4 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 $40 per share and the company’s under..
Provide inspiration for thoughts and rouse them to pursue : What innovative role defined in Chapter 8 of Palfrey most piqued your interest, and how will you use this discovery to "bestir the people into an awareness of their own condition, provide inspiration for their thoughts and rouse them to pursue the..
Create a wbs for this project using ms project : Create a WBS for this project using MS Project -  Describe and critique different models of the software development.
Applying the principles in the conceptual framework : Applying the principles in the Conceptual Framework, explain whether: The definition of an expense is met and The recognition criteria for an expense are met
How many tablets could you manufacture from your aspirin : A commercial aspirin tablet contains 325 mg of aspirin. How many tablets could you manufacture from your aspirin?

Reviews

Write a Review

 

Financial Management Questions & Answers

  Interest rate compounded annually to double

Suppose you deposit $2,500 today in a savings account at 3.5% interest compounded annually. Assuming no withdrawal, how much would you have at the end of 10 years? About how many years will it take for $100,000 placed in a bank account at 7% interest..

  Shareholders equal rights in the event of triggering event

Clint Wade owns 70 percent of the stock of Knock-Down Inc., a demolition and gravel supply company. The remaining 30 percent of the stock is owned in equal shares by three of the key managers of the business. The agreement gives all the shareholders ..

  Contributed equipment

Tom Barnes contributed equipment, inventory, and $43,222 cash to the partnership. The equipment had a book value of $28,168 and market value of $34,262. The inventory has a book value of $41,721, but only had a market value of $13,719. due to obsoles..

  Exchange rates and market rates

What do you call a check that a bank writes on its own account made payable to a third party on your behalf? The FDIC and NCUA insure non-retirement accounts in banks, savings & and loans, and credit unions for up to: Assume the following exchange ra..

  What was the net FUTA tax

Truson Company paid 4% SUTA a tax on taxable wages of $108,500. The taxable wages under FUTA were $89,400. What was the net FUTA tax of Truson Company?

  What is the present value of this commitment

When Marilyn Monroe died, ex-husband Joe DiMaggio vowed to place fresh flowers on her grave every Sunday as long as he lived. The week after she died in 1962, a bunch of fresh flowers that the former baseball player thought appropriate for the star c..

  Expect the yield to maturity to remain

You own a bond with the following features: 7 years to maturity, face value of $1000, coupon rate of 3% (annual coupons) and yield to maturity of 7.8%. If you expect the yield to maturity to remain at 7.8%, what do you expect the price of the bond to..

  Return on its assets if its expected return on debt

Calculate the firm's expected return on its assets if its expected return on debt is 10.50%, their expected return on equity is 22.50% and its WACC is 12%.

  What is lowest possible profit from combined investment

An investor purchases a stock for $65 and writes a call option on the same stock with an exercise price of $70 for a premium of $4 per share. The call option expires in one year. What is the maximum profit the investor can earn on the combined "cover..

  Assigned to the press as an initial cost of the new project

The Tattle Teller has a printing press sitting idly in its back room. The press has no market value to another printer because the machine utilizes old technology. The firm could get $250 for the press as scrap metal. The president of the firm is con..

  Projects are mutually exclusive-equally risky

Kosovski Company is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and are not repeatable. If the decision is made by choosing the project with the higher IRR, how much value will..

  Money does fei expect to have in his account when he retires

Fei has 11,900 dollars in his retirement account. In addition, he plans to save 9,400 dollars per year in his account for 6 years. His first contribution to his account is expected immediately and his last contribution is expected in 5 years. Fei exp..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd