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: .

Table:
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%
Calculation: divide(7700, 591200)