Jefferson Refining Is Issuing a Rights Offering Wherein Every Shareholder

question 37

Multiple Choice

Jefferson Refining is issuing a rights offering wherein every shareholder will receive one right for each share of stock they own.The new shares in this offering are priced at $19 plus 3 rights.The current market price of the stock is $23 a share.What is the value of one right?

• A)$0.25
• B)$1.00
• C)$1.25
• D)$1.50
• E)$2.00

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Definitions:

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