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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
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 your answer in millions. Round your answer to 2 decimal places.) New capital funding Offer price Underwriter's spread 92,460,000 19.05 1.40 Other administrative costs 2,850,000 Complete the following analysis. Do not hard code values in your calculations, and do not round intermediate calculations. Number of shares issued
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