Dye Trucking raised $255 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $8.50. If Dye had 50 million shares of stock before the recap, how many shares does it have after the recap?

Dye Trucking raised $255 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $8.50. If Dye had 50 million shares of stock before the recap, how many shares does it have after the recap?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter16: Capital Structure Decisions

Section: Chapter Questions

Problem 6P

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