More NewsDoubleClick to Sell 2.5 Million Shares

DoubleClick to Sell 2.5 Million Shares

DoubleClick Inc. saidit filed with the Securities and Exchange Commission to sell 2.5 millionshares of stock to the public.

DoubleClick Inc. said it filed with the Securities and Exchange Commission to sell 2.5 million shares of stock to the public.

The sale would raise about would raise $89.7 million, based on yesterday’s closing price of $35.875. Underwriters were granted a 375,000 share overallotment option, which if exercised would provide the company another $13 million or so.

“We have $50 million in cash, so we don’t need the money today, but we think it’s generally a good time to be raising money for future growth,” Jeff Epstein, DoubleClick’s chief financial officer, told Bloomberg News.

DoubleClick currently has about 16.5 million shares outstanding, according to S&P MarketScope. The sale would boost outstanding shares by a little more than 15 percent, Reuters said.

Managing underwriters for the DoubleClick offering are Goldman, Sachs & Co.; BT Alex. Brown, Donaldson, Lufkin and Jenrette; and Salomon Smith Barney Inc., the company said in a statement.

Related Articles

GDPR: The role of technology in data compliance

Data & Analytics GDPR: The role of technology in data compliance

2w Clark Boyd
What companies can learn from the We-Vibe lawsuit about the Internet of Things

Legal & Regulatory What companies can learn from the We-Vibe lawsuit about the Internet of Things

8m Al Roberts
Has advertising arrived on Google Home?

Media Has advertising arrived on Google Home?

8m Al Roberts
Is Twitter slowly dying?

More News Is Twitter slowly dying?

9m Al Roberts
FedEx launches fulfillment service to take on Amazon

Ecommerce FedEx launches fulfillment service to take on Amazon

9m Al Roberts
Target is the top retail digital marketer, so why is it struggling?

Ecommerce Target is the top retail digital marketer, so why is it struggling?

8m Al Roberts
YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

More News YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

9m Al Roberts
YouTube is getting rid of 30-second unskippable pre-roll ads

Ad Industry Metrics YouTube is getting rid of 30-second unskippable pre-roll ads

9m Al Roberts