Company News
Thursday, June 14, 2001
NetRadio Corp., Minneapolis, said its board of directors has begun a one-for-4.5 reverse stock split of its outstanding common stock. After the reverse split, NetRadio
now has about 2.2 million common shares outstanding. For the next 20 trading days, the company's shares will trade under the symbol NETRCD. Upon expiration of the
20-day period, the company's shares will continue to trade under the symbol NETRC.
Nistevo Corp., Minneapolis, and Establish Inc., a supply chain management and e-business consulting firm, have agreed to let Establish offer enrollment services to
Nistevo customers.
Net4Music Inc., Eden Prairie, reached an agreement to digitally distribute the catalog of music publisher Universal Edition.
Navitaire Inc., Minneapolis, bought the Minneapolis data center operations arm of ServiceNet, Herndon, Va. Terms were not disclosed.
New Horizon Kids Quest Inc., Minneapolis, has agreed to repurchase 875,000 of its common shares from Plymouth-based Lakes Gaming Inc. for $1.25 per share.
New Horizon is trying to get financing for the purchase, which it is obligated to complete within six months.
Printware Inc., Mendota Heights, said it participated in Select Comfort Corporation's recently announced $11 million convertible-debt financing, investing $1.5
million. Printware received a 5-year note bearing 8 percent interest. The note is secured by the assets of the company and is convertible into Select Comfort's common
stock at $1 per share. Select Comfort also issued Printware warrants to acquire 600,000 shares of its common stock at $1 per share, exercisable any time in the next five
years.
Merrill Corp., St. Paul, said its document-management business won a five-year contract from Morrison & Foerster to provide on-site services for 11 of its offices.
© Copyright 2001 Star Tribune. All rights reserved. |
