Answered

Dye Trucking raised $130 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $6.50. If Dye had 60 million shares of stock before the recap, how many shares does it have after the recap

Answer :

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The number of shares does it have after the recap is 40,000,000 shares.

Number of shares

First step

Number of shares= Amount raised / stock price

Number of shares= 130,000,000 / 6.50

Number of shares= 20,00,000 shares

Second step

Number of shares= Number of shares before recap - Shares repurchased

Number of shares= 60,000,000 - 20,00,000

Number of share= 40,000,000 shares

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