January 21, 2005, 12:00 AM

Napster completes $52 million equity financing

Napster Inc. is selling 7.1 million shares to institutional investors at a price of $7.35 per share, realizing proceeds of about $52.18 million, the company reported today.

 

The finance market for e-commerce businesses remains strong. The latest: Napster Inc. is selling 7.1 million shares to institutional investors at a price of $7.35 per share, the company reported today, realizing proceeds of about $52.18 million. Napster and the investors expect to close the private placement Monday.

Napster says the proceeds will be used for development of the Napster business, including the upcoming launch of the Napster To Go portable subscription service and for potential acquisitions.

 

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From The IR Blog

FPO

Sven Hammar / E-Commerce

4 ways to keep customers from abandoning your shopping cart

Think of the 69% industry average cart abandonment rate as an opportunity to win incremental ...

FPO

Ralph Tkatchuk / E-Commerce

5 ways retailers can reduce shopping cart abandonment

There are steps web merchants can take all along the path to purchase that can ...

Advertisement