NAVR news from Friday, after the close. Can't wait for this to be my next PRFM or PQT:
Friday August 27, 5:43 pm Eastern Time
NetRadio Corp. Boosts IPO plans to 4 mln shares
WASHINGTON, Aug 27 (Reuters) - NetRadio Corp., an online broadcasting company, boosted Friday the size of its initial
public offering to four million shares up from 3.3 million, an amended Securities and Exchange Commission filing said.
If the total amount of shares are sold in the projected range of $11-$13 per share, that would boost the net proceeds to $43.3
million, up from $40 million listed in an earlier filing.
Minneapolis-based NetRadio, with 120 music and news audio channels, said it plans to use the proceeds for working capital, advertising, capital expenditures, and
to repay interest on outstanding debt.
The company applied to trade on Nasdaq under the symbol (Nasdaq:NETR - news), said NetRadio, a unit of Navarre Corp. (Nasdaq:NAVR - news), a distributor
of home entertainment products, including prerecorded tapes, compact discs and CD-ROM software.
If there is heavy interest in the IPO, NetRadio has granted the underwriters, Gerard Klauer Mattison & Co. Inc. and The Advest Group Inc., an option to buy
600,000 shares, up from the overallotment of 499,950 shares initially planned.
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