Sell new shares of stock, Your firm is expanding and you

Sell new shares of stock

Assignment Help Financial Management

Reference no: EM131179962

Your firm is expanding and you need $18 million to help fund this growth. You estimate that you can sell new shares of stock for $30 a share. You also estimate that it will cost you $330,000 for legal, accounting, and other costs related to the stock issue. The underwriters have agreed to a 5 percent spread. How many shares of stock must you sell if you are going to have $18 million available for your expansion needs?

Reference no: EM131179962

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