This is the kind of news i like to see--Loudeye Completes $20 Million Equity Financing
Tuesday, Febuary 17, 2004 07:05 AM ET Printer-friendly version
SEATTLE, Feb. 17 /PRNewswire-FirstCall/ -- Loudeye Corp. (Nasdaq: LOUD, news), a worldwide leader in enabling digital music solutions, today announced it has raised $20 million in gross proceeds in a private placement of common stock. Loudeye sold 10,810,811 shares of common stock at $1.85 per share in the financing, to prominent institutional, strategic and accredited investors.
The net proceeds of the offering, after commissions and expenses, will be used for working capital and general corporate purposes, including expansion of Loudeye's business-to-business digital music solutions in the U.S. and internationally.
LOUD recently added some new directors and has been building a relationship with MSFT
One recent buy reccommendation set a price above $3.00
watch this dilution from the private placement before entry
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