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How much money should you receive for selling

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Problem - Atlas Corp. wants to raise $2.6 million via a rights offering. The company currently has 450,000 shares of common stock outstanding that sell for $26 per share. Its underwriter has set a subscription price of $22 per share and will charge the company a spread of7 percent. Assume you currently own 1,200 shares of this stock and decide not to participate in the rights offering. How much money should you receive for selling all of your rights?

Reference no: EM132767551

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