ALC needs to raise $12 million to finance its expansion into new markets and has decided to sell new shares of equity via a general cash offering.The offer price will be $28 per share, the accounting and legal fees are expected to be $645,000, and the company's underwriters will charge a spread of 8.2 percent.How many shares need to be sold?

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The Answer of ALC needs to raise $12 million to finance its expansion into new markets and has decided to sell new shares of equity via a general cash offering.The offer price will be $28 per share, the accounting and legal fees are expected to be $645,000, and the company's underwriters will charge a spread of 8.2 percent.How many shares need to be sold?

ALC Needs to Raise $12 Million to Finance Its Expansion