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Pandora inc makes a rights issue at a subscription price of

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Pandora, Inc., makes a rights issue at a subscription price of $7 a share. One new share can be purchased for every seven shares held. Before the issue there were 14 million shares outstanding and the share price was $8. a. What is the total amount of new money raised? (Answer in millions rounded to 1 decimal place.) New money raised $ _million b. What is the expected stock price after the rights are issued? (Round answer to 2 decimal places.) New share price $ __?

Reference no: EM13566804

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