InterCLICK online ad network to sell shares, raise funds for general purposes
InterCLICK Inc., an online ad network, said Wednesday the company and certain of its board members have agreed to sell around 4 million shares at $4.50 each.
The company said the company will sell 2.875 million shares directly to a group of institutional investors for $4.50 per share for net proceeds of $12 million.
InterCLICK said it would use the proceeds for general corporate purposes.
The company also said certain board members would sell 1.150 million shares, also for $4.50 each.
The offering is expected to close Dec. 21.
Shares fell a penny to $4.90 in midday trading Wednesday.
Copyright 2009 AP News
