Criswell Mining stock trades at $18 per share and there are 200 million shares outstanding.The management would like to raise $100 million in an SEO.If the underwriter charges 5% of gross proceeds,how many shares must it sell?
A) 5.56 million
B) 5.85 million
C) 8.93 million
D) 11.11 million
Correct Answer:
Verified
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