hologic , inc .notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) 3 .business combinations fiscal 2008 acquisitions : acquisition of third wave technologies , inc .on july 24 , 2008 the company completed its acquisition of third wave technologies , inc .( 201cthird wave 201d ) pursuant to a definitive agreement dated june 8 , 2008 .the company has concluded that the acquisition of third wave does not represent a material business combination and therefore no pro forma financial information has been provided herein .subsequent to the acquisition date , the company 2019s results of operations include the results of third wave , which has been reported as a component of the company 2019s diagnostics reporting segment .third wave , located in madison , wisconsin , develops and markets molecular diagnostic reagents for a wide variety of dna and rna analysis applications based on its proprietary invader chemistry .third wave 2019s current clinical diagnostic offerings consist of products for conditions such as cystic fibrosis , hepatitis c , cardiovascular risk and other diseases .third wave recently submitted to the u.s .food and drug administration ( 201cfda 201d ) pre-market approval ( 201cpma 201d ) applications for two human papillomavirus ( 201chpv 201d ) tests .the company paid $ 11.25 per share of third wave , for an aggregate purchase price of approximately $ 591200 ( subject to adjustment ) consisting of approximately $ 575400 in cash in exchange for stock and warrants ; approximately 668 of fully vested stock options granted to third wave employees in exchange for their vested third wave stock options , with an estimated fair value of approximately $ 8100 ; and approximately $ 7700 for acquisition related fees and expenses .there are no potential contingent consideration arrangements payable to the former shareholders in connection with this transaction .additionally , the company granted approximately 315 unvested stock options in exchange for unvested third wave stock options , with an estimated fair value of approximately $ 5100 , which will be recognized as compensation expense over the vesting period .the company determined the fair value of the options issued in connection with the acquisition in accordance with eitf issue no .99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination 201d ) .the company determined the measurement date to be july 24 , 2008 , the date the transaction was completed , as the number of shares to be issued according to the exchange ratio was not fixed until this date .the company valued the securities based on the average market price for two days before the measurement date and the measurement date itself .the weighted average stock price was determined to be approximately $ 23.54 .the preliminary purchase price is as follows: .
[['cash portion of consideration', '$ 575400'], ['fair value of vested options exchanged', '8100'], ['direct acquisition costs', '7700'], ['total estimated purchase price', '$ 591200']]
.

Question: what portion of the estimated purchase price is recorded as acquisition cost?
Answer: 1.3%