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Technology Stocks : SCO Group (SCOX) -- Ignore unavailable to you. Want to Upgrade?

To: Scott C. Lemon who wrote (140)	12/1/2005 10:42:43 AM
From: Glenn Petersen	Read Replies (1) \| Respond to of 239

How much of a settlement would it take to make SCOX double in price? Did anyone ever come up with a figure? I keep meaning to devote an hour to the question. SCOX raises another $10 million from existing investors. Are they true believers or merely trying to protect their investment? The SCO Group Closes $10 Million Private Placement to Institutional Investors Wednesday November 30, 4:36 pm ET LINDON, Utah, Nov. 30 /PRNewswire-FirstCall/ -- The SCO Group, Inc. ("SCO") (Nasdaq: SCOX - News), a leading provider of UNIX® software technology for distributed, embedded and network-based systems, today announced the completion of a private placement of 2,852,449 shares of common stock to existing SCO institutional shareholders and a member of the company's board of directors. The shares were sold to institutional investors at $3.50 per share and to the board member at $3.92 per share. No special warrants or rights were issued in connection with the private placement. The proceeds should ensure that the company has adequate funding to pursue its existing business strategies, including the resolution of the company's existing legal proceedings. Syntax Partners LLC provided advisory assistance to the company in connection with the financing. "Our current strategies have continued to focus on creating innovative mobile technologies for new customers, delivering reliable UNIX products for existing customers, and protecting our intellectual property rights for all company stakeholders," said Darl McBride, president and chief executive officer at The SCO Group. "This added investment is a vote of confidence by our existing investors that will bolster our efforts over the long-term to succeed in the marketplace with our products and continue protecting our intellectual property." <snip> biz.yahoo.com