By Sheri Kasprzak
Atlanta, Dec. 22 - Loudeye Corp. said it raised $25.2 million in a private placement.
The company sold 16.8 million shares at $1.50 each.
Investors also received warrants for about 5 million shares. Additional details about the warrants in the offering could not be obtained Wednesday.
Based in Seattle, Loudeye is a business-to-business digital media company. It plans to use the proceeds from the offering for working capital and general corporate purposes.
| Issuer: | Loudeye Corp.
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| Issue: | Stock
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| Amount: | $25.2 million
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| Shares: | 16.8 million
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| Price: | $1.50
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| Warrants: | For 5 million shares
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| Settlement date: | Dec. 22
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| Stock price: | $2.17 at close Dec. 21
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