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Calculating costs of issuing stock

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Reference no: EM132774154

Calculating Costs of Issuing Stock (LG18-4)

Husker's Tuxedo's, Inc. needs to raise $252 million to finance its plan for nationwide expansion. In discussions with its investment bank, Husker's learns that the bankers recommend an offer price (or gross price) of $35 per share and they will charge an underwriter's spread of $1.85 per share.

Calculate the net proceeds per share to Husker's from the sale of stock. (Round your answer to 2 decimal places.)

How many shares of stock will Husker's need to sell in order to receive the $252 million needed? (Round your final answer to the nearest whole number.)

Reference no: EM132774154

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