8. Problem 15-09 (Shares Remaining after Recapitalization)8€eBookShares Remaining After RecapitalizationDye Trucking raised $150 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $7.50. If Dye had 70 million shares ofstock before the recap, how many shares does it have after the recap? Enter your answer in millions. For example, an answer of $1 million should beentered as 1, not 1,000,000. Round your answer to the nearest whole number.million shares

A recap, is a restructuring strategy which involves altering a company's capital structure by…

Answered: 8. Problem 15-09 (Shares Remaining…

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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Shares Remaining After Recapitalization 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 60 million shares of stock before the recap, how many shares does it have after the recap? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number. million shares
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