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Calculate the underwriter spread per share on the issue

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Reference no: EM132772608

Don's Captain Morgan, Inc. needs to raise $14.40 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 $22.30 per share and Don's will receive $20.35 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 $14.40 million it needs? (Round your answer to the nearest whole number.)

Reference no: EM132772608

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