Green Tractor needs to raise $43 to expand their distribution network. They will selling equity for cash to raise this money. If the underwriting spread they will pay is 6.3%, and they will have to pay $3 million in filing fees, how many dollars of equity do they need to sell?
Let dollars of equity raised be x,
So,
x(1 - 0.063) - 3 = 43
x = $49.09 million
Amount Raised = $49.09 million
Green Tractor needs to raise $43 to expand their distribution network. They will selling equity for...
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