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Calculate the number of shares issued through the ipo

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problem 1: Don's Captain Morgan, Inc. needs to raise $14.00 million to finance plant expansion. In discussions with its investment bank, Don's learns that the bankers recommend an offer price (or gross proceeds) of $21.90 per share and Don's will receive $19.65 per share. Calculate the underwriter's spread per share on the issue. (Round your answer to 2 decimal places). How many shares of stock will Don's need to sell in order to receive the $14.00 million it needs? (Round your answer to the nearest whole number.)

problem 2: Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $90.66 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $18.65 and the underwriter's spread was $1.50. Hughes also paid legal and other administrative costs of $1.95 million for the IPO. Calculate the number of shares issued through this IPO. (Enter your answer in millions. Round your answer to 2 decimal places.)

Reference no: EM132795788

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