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Calculate the number of shares

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Reference no: EM131493103

Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $89.08 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $16.35 and the underwriter's spread was $1.70. Hughes also paid legal and other administrative costs of $1.75 million for the IPO.

Calculate the number of shares issued through this IPO

Reference no: EM131493103

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