(CNN) – Newt Gingrich finished the first month of electoral contests with almost $1.8 million cash on hand and owing nearly as much in debt, his campaign disclosed Monday.
He raised nearly $5.6 million in January, according to financial reports filed with the Federal Election Commission.
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After a loss in the Iowa caucuses, Gingrich largely skipped the New Hampshire primary to focus his efforts on South Carolina, which he won later in the month.
Gingrich spent $5.9 million that month and drew upon the $2.1 million he raised in 2011. He finished the month owing $1.7 million in debt.
His January haul is approximately $1 million less than his chief rival, Mitt Romney, raised in the same month.