In Problem 20.5, if the OSC filing fee and associated administrative expenses of the offering are $900,000,

Question:

In Problem 20.5, if the OSC filing fee and associated administrative expenses of the offering are $900,000, how many shares need to be sold?
In Problem 20.5
The St. Anger Corp. needs to raise $35 million to finance its expansion into new markets. The company will sell new shares of equity via general cash offering to raise the needed funds. If the offer price is $31 per share and the company’s underwriters charge an 8 percent spread, how many shares need to be sold?