Question: The St . Anger Corp. needs to raise $ 3 5 million to finance its expansion into new markets. The company will sell new shares

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 a 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 and the OSC filing fee and associated administrative expenses are $

900, 000,

how many shares need to be sold?

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