Shares Remaining After Recapitalization
Dye Trucking raised $130 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $6. If Dye had 70 million shares of stock before the recap, how many shares does it have after the recap? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answer to two decimal places.
_______million