Hughes Technology Corp

question 47

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