How many shares need to be sold

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Reference no: EM13288547

The IBBS Co. needs to raise $65.5 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds.

If the offer price is $55 per share and the company's underwriters charge an 8.5 percent spread, how many shares need to be sold?

Reference no: EM13288547

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