Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed

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 Other administrative costs $ 92,460,000 19.05 1.40 $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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Finance Book

Authors: Stuart Warner, Si Hussain

1st Edition

1292123648, 978-1292123646

More Books

Students also viewed these Finance questions