Multiple Choice
Hughes Technology Corp. recently went public with an initial public offering in which they received a total of $9 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $102 and the underwriter's spread was $1.35. Hughes Technology also paid legal and other administrative costs of $400,000 for the IPO. Calculate the number of shares issued through this IPO.
A) 93,393
B) 92,157
C) 89,419
D) 88,235
Correct Answer:
Verified
Correct Answer:
Verified
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