Calculate the number of shares issued through this IPO

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Reference no: EM132046015

Hughes Technology Corp. recently went public with an initial public offering in which it received a total of $67.35 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $12.50 and the underwriter’s spread was $1.75. Hughes also paid legal and other administrative costs of $1.45 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.)

Reference no: EM132046015

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