International Sealants Inc. is considering a rights offering to raise new equity capital. The firm currently has
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International Sealants Inc. is considering a rights offering to raise new equity capital. The firm currently has 1,375,000 shares outstanding that are selling for $42.50 per share. The company wants to raise $10,000,000 in new equity funding. They plan to price shares in the rights offering at $35.
What will be the market value of right based on the current market price? Present your answer in dollars to two decimal places e.g., 2.17.)
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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