How many new shares must the company sell to net 50 million?

Question

this company needs to raise 50 million of new equity capital. Its common stock is currently selling for $50 per share. The investment bankers require an underwriting spread of 3 percent of the offering price. The company legal accounting and printing expenses associated with the seasoned offering are estimated to be $750,000.

Answer 1

Arrive at the answer by commuting simple arithmetical calculations yourself.