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Hughes Technology Corp recently went public with an initial public offering in which it received a total of $92.46 million in new capital funding. The underwriter used a firm commitment offering in

Hughes Technology Corp recently went public with an initial public offering in which it received a total of $92.46 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $19.05 and the underwriter's spread was $1.40. Hughes also paid legal and other administrative costs of $2.85 million for the IPO. Calculate the number of shares issued through this IPO. (Enter answer in millions and round to 2 decimal places).

new capital funding $ 92,460,000.00
offer price $ 19.05
underwriters spread $ 1.40
other costs $ 2,850,000.00

Jul 15 2021 View more View Less

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