Abc furniture would like to go public to raise 90 million, Financial Management

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Abc furniture would like to go public to raise 90 million

ABC Furniture would like to go public to raise $90 million to support expected growth. Their investment bank charges the following: 6.6% underwriting spread for a firm commitment $421,907 in legal fees. The underwriter believes the IPO will be priced at $5.09 per share. How many shares must be issued to net the company the proceeds it needs to fund its future investment?

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Financial Management: Abc furniture would like to go public to raise 90 million

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Financial Management: Abc furniture would like to go public to raise 90 million

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