A startup company offers 1,000,000 shares of common stock to the public in an initial public offering (IPO). The underwriters agree to provide their services in a firm commitment underwriting agreement. The offering price is set at $61. The underwriting spread is 10% per share. After completing their sales efforts the underwriters determine that they were able to sell a total of 583,380 shares. How much cash did the issuing firm receive from their IPO