What is the value of the right-black mesa research

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Black Mesa Research has made a renounceable rights issue offer to their existing shareholders. The firm's current ordinary share price is $34.86 and the 2-for-8 pro-rata issue has an offer price of $32.75.

What is the value of the right?

Give your final answer as dollars rounded to the nearest cent. For example, for "$123.4567" you would input "123.46" (without the quotation marks). Do not round any of the intermediate steps of your calculation. Only round your final answer.

Reference no: EM132481772

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