Digital River Announces Public Offering of Stock
MINNEAPOLIS, Aug. 11 /PRNewswire/ -- Digital River, Inc. (Nasdaq: DRIV), announced today that its registration statement has become effective and an initial public offering of 3,000,000 shares of common stock at $8.50 per share is being made through an underwriting group managed by BT Alex. Brown Incorporated, BancAmerica Robertson Stephens and Bear, Stearns & Co., Inc. The Company has granted the underwriters a 30-day option to purchase up to 450,000 additional shares of common stock to cover over-allotments, if any.
Proceeds of the offering will be used for general corporate purposes, including continued investment in product development, expansion of sales and marketing activities and working capital.
Digital River is a provider of electronic commerce outsourcing solutions to software publishers and online retailers.
The common stock of Digital River will be listed for quotation on the Nasdaq National Market under the symbol DRIV.
Copies of the prospectus relating to the offering may be obtained from BT Alex. Brown Incorporated, 101 California Street, 48th Floor, San Francisco, CA 94111, 415-544-2800; BancAmerica Robertson Stephens, 555 California Street, San Francisco, CA 94101, 415-781-9700, or Bear, Stearns & Co. Inc. 245 Park Avenue, New York, NY, 212-272-2000. |
