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Business, 06.07.2019 06:20 summerjoiner

Faith evans corporation is a regional company which is an sec registrant. the corporation's securities are thinly traded on nasdaq. faith evans corp. has issued 10,000 units. each unit consists of a $500 par, 12% subordinated debenture and 10 shares of $5 par common stock. the investment banker has retained 400 units as the underwriting fee. the other 9,600 units were sold to outside investors for cash at $880 per unit. prior to this sale, the 2-week ask price of common stock was $40 per share. twelve percent is a reasonable market yield for the debentures, and therefore the par value of the bonds is equal to the fair value.

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Faith evans corporation is a regional company which is an sec registrant. the corporation's securiti...
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