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Posts: 255
2 months ago
Valiant Industries has 20 million shares of stock outstanding at a price of $28 per share. The company wishes to raise more money and plans to do so through a rights issue. Every existing stockholder will receive one right for each share of stock held. For every four rights held by the stockholder, they can buy one share at a price of $28. If all rights are exercised, how much money will be raised in this offer?

▸ $70 million

▸ $120 million

▸ $165 million

▸ $140 million
Textbook 

Fundamentals of Corporate Finance


Edition: 2nd
Authors:
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Posts: 247
2 months ago
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$140 million
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wrote...
2 months ago
Thanks
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