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How many shares of stock must be sold to meet this cash need

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Problem: Hill Company wants to raise 12.5 million to open a new production facility. The $12 company estimates the issue costs for legal and accounting fees will be $ 286,000 The underwriters have set the stock price at $28.25 a share and the underwriting spread at 7.25 percent. How many shares of stock must be sold to meet this cash need?

Reference no: EM132466996

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