$4.$ Numerical problem I $(16$p$)$

Consider a firm with a stock price of $$300$ per share. The firm wants to raise new equity

capital through a rights offer.

$($a$)$ If the rights offer terms are one two new shares for three old at a price of $200$ per

share $($N $2$:$3-200),$ what is the stock price after the rights offer?

$($b$)$ To manage the share price, the company considers making a simultaneous stock

dividend of two new shares for three old. What is the stock price after the combined

rights offer $($N $2$:$3-200)$ and stock dividend $($F $2$:$3)?$

$($c$)$ Disregard the stock dividend and focus on the rights offer $($N $2$:$3-200).$ Capital is

scarce, and the firm decides to exclude the new shares from the next dividend in the

amount of $50$ per old share. What is the stock price per old share after the rights

offer?

$($d$)$ Capital is scarce indeed and new shareholders request to get half the next dividend

in the amount of $25$ per new share $(50$ per old share$).$ What is the stock price per

old share after the rights offer?