- RealNetworks Inc 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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