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Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $85.25 million in new capital funding. The
Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $85.25 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $17.40 and the underwriters spread was $0.65. Hughes also paid legal and other administrative costs of $1.85 million for the IPO. Calculate the number of shares issued through this IPO.
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