Question: Husker s Tuxedo s Inc needs to raise 250 million to finance
Husker’s Tuxedo’s, Inc. needs to raise $250 million to finance its plan for nationwide expansion. In discussions with its investment bank, Husker’s learns that the bankers recommend an offer price (or gross price) of $35 per share and they will charge an underwriter’s spread of $1.75 per share. Calculate the net proceeds to Husker’s from the sale of stock. How many shares of stock will Husker’s need to sell in order to receive the $250 million they need?
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