What was the average issue price per share of preferred stock?

Question

Quizplus · Accepted Answer

To calculate the average issue price per share of preferred stock, we need to add up the total amount raised from the sale of preferred stock and divide by the total number of shares issued. From the information given, we know that the company raised $31 million and issued 250,000 shares of preferred stock. Therefore, the average issue price per share of preferred stock is $124 ($31 million ÷ 250,000 shares).

What Was the Average Issue Price Per Share of Preferred