A company has:

   • 10 million $1 ordinary shares in issue 

   • A current share price of $5.00 a share

   • A WACC of 15%

The company holds $10 million in cash. No interest is earned on this cash.

It will invest this in a project with an expected NPV of $4 million.

In a semi-strong efficient stock market, which of the following is the most likely share price immediately after the announcement of the new investment?