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lianna [129]
3 years ago
6

"PDQ Corporation has declared a rights offering to stockholders of record. The company has 5,000,000 shares outstanding and is s

elling an additional 1,000,000 shares via the rights offer. Which statements are TRUE regarding a customer who owns 500 shares of PDQ stock?"
Business
1 answer:
Nimfa-mama [501]3 years ago
5 0

Answer: C. II and III

Explanation:

There are 5,000,000 shares of PDQ Corporation as of when they declared the rights offering. This means that every share will get a right to buy stock.

However, as only 1,000,000 shares are being offered per the 5,000,000 shares outstanding it means that one stock may be purchased for every 5 rights.

A customer who owns 500 shares will therefore get 500 rights.

However with one stock up for sale per 5 rights they will receive the opportunity to buy;

= 500/5

= 100 shares

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