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Technology Stocks : RealNetworks (NASDAQ:RNWK) -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth M. Koff, CPCU who wrote (3210)	5/17/1999 11:47:00 AM
From: KM	Respond to of 5843

Monday May 17 10:16 AM ET RealNetworks Files To Offer Four Million Shares WASHINGTON (Reuters) - Software company RealNetworks Inc. (Nasdaq:RNWK - news), whose products allow PC users to send and receive real-time media online, filed Monday to offer 4 million common shares. The company, whose technology is used by America Online Inc. (NYSE:AOL - news), Cable News Network (CNN) and global financial news provider Bloomberg L.P., is offering 3.525 million of the shares while stockholders, which include Chief Executive Officer Robert Glaser, are offering the other 475,000 shares, said a Securities and Exchange Commission filing. The shares being offered by the company represent about 5 percent of the total number of its outstanding shares after the offering. If there is big demand for the shares, then RealNetworks has granted the underwriters -- Goldman Sachs, BancBoston Robertson Stephens, Donaldson Lufkin & Jenrette, Lehman Brothers and Thomas Weisel Partners -- an option to buy 600,000 more shares. Estimated net proceeds of $299 million will be used for general corporate purposes, mainly working capital and capital expenditures, and for potential acquisitions and strategic investments, the filing said. The Seattle-based company will not receive any proceeds from the shares sold by stockholders like Glaser, who is offering 180,000 shares. He will own 27,866,042 shares, or 39 percent, after the offering. Another selling stockholder is director Mitchell Kapor, who is offering 130,000 shares. He will own 3,125,070 shares, or 4.4 percent, after the offering, the filing said. The company's shares closed at 88-11/16 Friday.