Criswell Mining stock trades at $19 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) 5.26 million
B) 5.54 million
C) 8.86 million
D) 9.97 million
Correct Answer:
Verified
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