Question Moonscape has just completed an initial public offering. The firm sold 2 million shares at an offer price of $10 per share. The underwriting spread was $.70 a share. The price of the stock closed at $13 per share at the end of the first day of trading. The firm incurred $500,000 in legal, […]
Question The shareholders of the Pickwick Paper Company need to elect six directors. There are 150,000 shares outstanding. a. What is the minimum number of shares you need to own to ensure that you can elect at least one director if the company has majority voting? Number of shares b. What is the minimum number of […]
Question There is a common phrase in business: “Cash is king.” “Cash flow is the life-blood of a company. Without it, a company will fail” (Hicks, 2012). Yet, companies often have to take risks that could potentially jeopardize their cash flow (e.g., new projects, growth, capital budgeting, etc.). Assume you are the CFO of a […]
Question Olympic Sports has two issues of debt outstanding. One is a 7% coupon bond with a face value of $22 million, a maturity of 15 years, and a yield to maturity of 8%. The coupons are paid annually. The other bond issue has a maturity of 20 years, with coupons also paid annually, and […]
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