what amount of net capital was raised by the company at the ipo with the issuance of class a common stock?
visa inc . notes to consolidated financial statements 2014 ( continued ) september 30 , 2008 ( in millions , except as noted ) were converted on a one-to-one basis from class eu ( series i , ii , iii ) common stock to class c ( series iii , ii , and iv ) common stock concurrent with the true-up . the results of the true-up are reflected in the table below . fractional shares resulting from the conversion of the shares of each individual stockholder have been rounded down . these fractional shares were paid in cash to stockholders as part of the initial redemption of class b common stock and class c common stock shortly following the ipo . outstanding regional classes and series of common stock issued in the reorganization converted classes and series of common stock issued in the true-up number of regional classes and series of common stock issued in the reorganization true-up conversion number of converted classes and series of common stock after the true-up class usa ( 1 ) class b ( 2 ) 426390481 0.93870 400251872 .

| Outstanding Regional Classes and Seriesof Common Stock Issued inthe Reorganization | Converted Classes and Series of Common Stock Issued in the True-Up | Number of Regional Classes and Series of Common Stock Issued in the Reorganization | True-up Conversion Ratio | Number of Converted Classes and Series of Common Stock after the True-Up |
| :--- | :--- | :--- | :--- | :--- |
| Class USA<sup>(1)</sup> | Class B<sup>(2)</sup> | 426,390,481 | 0.93870 | 400,251,872 |
| Class EU (series I) | Class C (series III) | 62,213,201 | 1.00000 | 62,213,201 |
| Class EU (series II) | Class C (series II) | 27,904,464 | 1.00000 | 27,904,464 |
| Class EU (series III) | Class C (series IV) | 549,587 | 1.00000 | 549,587 |
| Class Canada | Class C (series I) | 22,034,685 | 0.98007 | 21,595,528 |
| Class AP | Class C (series I) | 119,100,481 | 1.19043 | 141,780,635 |
| Class LAC | Class C (series I) | 80,137,915 | 1.07110 | 85,835,549 |
| Class CEMEA | Class C (series I) | 36,749,698 | 0.95101 | 34,949,123 |

( 1 ) the amount of the class usa common stock outstanding prior to the true-up is net of 131592008 shares held by wholly-owned subsidiaries of the company . ( 2 ) the amount of the class b common stock outstanding subsequent to the true-up is net of 123525418 shares held by wholly-owned subsidiaries of the company . also , the company issued 51844393 additional shares of class c ( series ii ) common stock at a price of $ 44 per share in exchange for a subscription receivable from visa europe . this issuance and subscription receivable were recorded as offsetting entries in temporary equity on the company 2019s consolidated balance sheet at september 30 , 2008 . initial public offering in march 2008 , the company completed its ipo with the issuance of 446600000 shares of class a common stock at a net offering price of $ 42.77 ( the ipo price of $ 44.00 per share of class a common stock , less underwriting discounts and commissions of $ 1.23 per share ) . the company received net proceeds of $ 19.1 billion as a result of the ipo. .

shares_issued = 446600000
price = 42.77
net_proceeds = shares_issued * price
answer = net_proceeds