How many shares need to be sold

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Reference no: EM13929637

The Dunning Co. needs to raise $66.7 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. The offer price is $67 per share and the company’s underwriters charge a spread of 8.5 percent. The SEC filing fee and associated administrative expenses of the offering are $467,000.

How many shares need to be sold?

Reference no: EM13929637

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