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Problem:

Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $62.15 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $17.65 and the underwriter's spread was $1.50. Hughes also paid legal and other administrative costs of $2.45 million for the IPO.

Required:

Question: Calculate the number of shares issued through this IPO.

Note: Explain all steps comprehensively.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91174188

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