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RealNetworks Stock Falls On Raising $22.3M Via Secondary Equity Offering At 21% Discount

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RealNetworks Stock Falls On Raising $22.3M Via Secondary Equity Offering At 21% Discount
  • RealNetworks Inc (NASDAQ: RNWK) has priced 8.25 million shares at $2.7 per share to raise $22.3 million in a secondary public offering.
  • The offer price signifies a 20.8% discount to the Monday closing price of $3.41.
  • The underwriter has a 30-day option to purchase additional shares up to 1.2 million.
  • RealNetworks will utilize the offering proceeds for working capital and general corporate purposes.
  • Lake Street Capital Markets is the sole book-running manager for the offering.
  • RealNetworks held $23.9 million in cash and equivalents as of Dec. 31, 2020.
  • Price action: RNWK shares traded lower by 19.4% at $2.75 in the premarket session on the last check Tuesday.
 

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