How many shares does it have after the recap

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Shares Remaining After Recapitalization

Question: Dye Trucking raised $75 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $7.50. If Dye had 60 million shares of stock before the recap, how many shares does it have after the recap? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number.

Reference no: EM133326246

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