Hughes technology corp recently went public with an initial, Ask an Expert

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Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $79.60 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $17.05 and the underwriter’s spread was $0.60. Hughes also paid legal and other administrative costs of $2.65 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.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92420818

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