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Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $90.10 million in new capital funding. The
Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $90.10 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $19.40 and the underwriters spread was $0.95. Hughes also paid legal and other administrative costs of $2.15 million for the IPO.
Calculate the number of shares issued through this IPO.
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