Question
In: Finance
Rust Pipe Co. was established in 1994. Four years later the company went public. At that...
Rust Pipe Co. was established in 1994. Four years later the
company went public. At that time, Robert Rust, the original owner,
decided to establish two classes of stock. The first represents
Class A founders' stock and is entitled to seven votes per share.
The normally traded common stock, designated as Class B, is
entitled to one vote per share. In late 2010, Mr. Stone, an
investor, was considering purchasing shares in Rust Pipe Co. While
he knew the existence of founders’ shares were not often present in
other companies, he decided to buy the shares anyway because of a
new technology Rust Pipe had developed to improve the flow of
liquids through pipes.
Of the 1,650,000 total shares currently outstanding, the original founder's family owns 52,225 shares.
What is the percentage of the founder's family votes to Class B
votes? (Do not round intermediate calculations. Input your
answer as a percent rounded to 2 decimal places.)
Solutions
jeff jeffy answered 8 months agoRelated Solutions
Rust Pipe Co. was established in 1994. Four years later the company went public. At that...
Rust Pipe Co. was established in 1994. Four years later the
company went public. At that time, Robert Rust, the original owner,
decided to establish two classes of stock. The first represents
Class A founders' stock and is entitled to twelve votes per share.
The normally traded common stock, designated as Class B, is
entitled to one vote per share. In late 2010, Mr. Stone, an
investor, was considering purchasing shares in Rust Pipe Co. While
he knew the existence...
Rust Pipe Co. was established in 1994. Four years later the company went public. At that...
Rust Pipe Co. was established in 1994. Four years later the
company went public. At that time, Robert Rust, the original owner,
decided to establish two classes of stock. The first represents
Class A founders' stock and is entitled to twelve votes per share.
The normally traded common stock, designated as Class B, is
entitled to one vote per share. In late 2010, Mr. Stone, an
investor, was considering purchasing shares in Rust Pipe Co. While
he knew the existence...
Rust Pipe Co. was established in 1994. Four years later the company went public. At that...
Rust Pipe Co. was established in 1994. Four years later the
company went public. At that time, Robert Rust, the original owner,
decided to establish two classes of stock. The first represents
Class A founders' stock and is entitled to eleven votes per share.
The normally traded common stock, designated as Class B, is
entitled to one vote per share. In late 2010, Mr. Stone, an
investor, was considering purchasing shares in Rust Pipe Co. While
he knew the existence...
Rust Pipe Co. was established in 1994. Four years later the company went public. At that...
Rust Pipe Co. was established in 1994. Four years later the
company went public. At that time, Robert Rust, the original owner,
decided to establish two classes of stock. The first represents
Class A founders' stock and is entitled to eight votes per share.
The normally traded common stock, designated as Class B, is
entitled to one vote per share. In late 2010, Mr. Stone, an
investor, was considering purchasing shares in Rust Pipe Co. While
he knew the existence...
Rust Pipe Co. was established in 1994. Four years later the company went public. At that...
Rust Pipe Co. was established in 1994. Four years later the
company went public. At that time, Robert Rust, the original owner,
decided to establish two classes of stock. The first represents
Class A founders' stock and is entitled to eleven votes per share.
The normally traded common stock, designated as Class B, is
entitled to one vote per share. In late 2010, Mr. Stone, an
investor, was considering purchasing shares in Rust Pipe Co. While
he knew the existence...
5 Rust Pipe Co. was established in 1994. Four years later the company went public. At...
5
Rust Pipe Co. was established in 1994. Four years later the
company went public. At that time, Robert Rust, the original owner,
decided to establish two classes of stock. The first represents
Class A founders' stock and is entitled to eleven votes per share.
The normally traded common stock, designated as Class B, is
entitled to one vote per share. In late 2010, Mr. Stone, an
investor, was considering purchasing shares in Rust Pipe Co. While
he knew the...
Under a firm commitment agreement, Zeke, Co. went public and received $35.25 for each of the...
Under a firm commitment agreement, Zeke, Co. went public and
received $35.25 for each of the 8.9 million shares sold. The
initial offer price was $38 and the stock rose to $41.38. The
company paid $560,000 in direct flotation costs and $215,000 in
indirect costs. What was the flotation cost as a percentage of
funds raised?
Under a firm commitment agreement, Zeke, Co. went public and received $35.25 for each of the...
Under a firm commitment agreement, Zeke, Co. went public and
received $35.25 for each of the 8.9 million shares sold. The
initial offer price was $38 and the stock rose to $41.38. The
company paid $560,000 in direct flotation costs and $215,000 in
indirect costs. What was the flotation cost as a percentage of
funds raised?
a)27.63
b)8
c)17.68
d)29.14
e)23.6
The company WayABC went public last year with its initial public offering price at $29, but...
The company WayABC went public last year with its initial public
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Camarillo Manufacturing Company was established to manufacture two types of pipe fittings, XL1 and XL2. The...
Camarillo Manufacturing Company was established to manufacture
two types of pipe fittings, XL1 and XL2. The manufacturing process
involves molding the fittings and then smoothing them.
The firm was initially capitalized with $500,000 as an S
Corporation. The firm purchased equipment for $450,000 with cash of
$125,000 and a note payable of $325,000. It also acquired furniture
for $120,000 with cash of $60,000 and a note payable of $60,000.
Management is now preparing the master budget for the first year...
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