Loudeye Raises $25.2 Million in Equity Financing
23 December 2004 - 12:46AM
PR Newswire (US)
Loudeye Raises $25.2 Million in Equity Financing SEATTLE, Dec. 22
/PRNewswire-FirstCall/ -- Loudeye Corp. (NASDAQ:LOUD), a worldwide
leader in business-to-business digital media solutions, today
announced it has entered into a definitive agreement with certain
institutional investors in connection with a private placement of
shares of Loudeye common stock. Loudeye has agreed to sell 16.8
million shares of common stock together with warrants to purchase
an aggregate of approximately 5.0 million shares of common stock,
raising $25.2 million in gross proceeds. The net proceeds of the
offering, after commissions and expenses, will be used for working
capital and any other general corporate purposes. This announcement
does not constitute an offer to sell or a solicitation of an offer
to buy shares of Loudeye's common stock. These shares and warrants
have not been registered under the Securities Act of 1933, as
amended, or applicable state securities laws and may not be offered
or sold in the United States or any state thereof absent
registration under the Securities Act and applicable state
securities laws or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities
laws. Loudeye has agreed to file a registration statement covering
the resale of these shares of common stock and the shares of common
stock issuable upon exercise of the warrants. About Loudeye Corp.
Loudeye is a worldwide leader in business-to-business digital media
solutions. For more information, visit http://www.loudeye.com/.
Forward Looking Statements This release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements about the projected use of
proceeds. Future events and Loudeye's actual results could differ
materially from the results reflected in these forward-looking
statements. Factors that might cause such a difference include, but
are not limited to, the inability to satisfy closing conditions
relating to the private placement, delays in consummating the
private placement for reasons beyond Loudeye's control,
unanticipated expenses or liabilities or other adverse events
affecting Loudeye or the private placement, and risks detailed from
time to time in Loudeye's SEC reports, including quarterly reports
on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K
available through EDGAR at http://www.sec.gov/. Loudeye reserves
the right to change the use of these proceeds from time to time as
a result of contingencies such as competitive developments,
technological advances, or new business opportunities, including
opportunities to acquire products, technologies or businesses. Many
of these factors or contingencies are beyond Lodueye's ability to
control or predict. Loudeye assumes no obligation to update the
forward-looking statements. DATASOURCE: Loudeye Corp. CONTACT:
media, Karen DeMarco, , or Yasmeen Coning, , both of mPRm Public
Relations, +1-323-933-3399, for Loudeye; or investor relations,
Michael Dougherty, +1-206-832-4000, or Web site:
http://www.loudeye.com/
Copyright
Loudeye (NASDAQ:LOUD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Loudeye (NASDAQ:LOUD)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Loudeye (NASDAQ): 0 recent articles
More Loudeye (MM) News Articles