Wayne Industry has been investigating the expansion of the company into new areas of development. In order to fund these new investments, the company needs an increase in equity.

On 1 April 2022 the company decided to make a public issue to raise $1 800 000 for new capital development. The company issued a prospectus inviting applications for 600 000 $3 shares, payable in full on application. There was an additional incentive offered by Wayne Industry to investors, as those shareholders who acquired more than 30 000 shares were allowed to acquire options at 50 cents each. These options allowed the investors to acquire shares in Wayne Industry at $3.20 each, the acquisition having to occur before 30 November 2022.

Wayne Industry had received applications for 750 000 shares and 60 000 options by 10 May 2022.

On 28 May 2022 the shares and options were allotted, and money returned to unsuccessful applicants. All applicants who applied for the options had also being allotted shares.

By 30 November 2022 the price of each of Wayne Industry’s shares was $3.35. Holders of 54 000 options exercised their options in November, with the remaining options lapsing.

Click on Buy Solution and make payment. All prices shown above are in USD. Payment supported in all currencies. Price shown above includes the solution of all questions mentioned on this page. Please note that our prices are fixed (do not bargain).

After making payment, solution is available instantly.Solution is available either in Word or Excel format unless otherwise specified.

If your question is slightly different from the above question, please contact us at info@myassignmentguru.com with your version of question.