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HolidayBuyer's Guide
Tech Industry

Short Take: CDnow files for secondary offering

CDNow filed with the Securities and Exchange Commission for a secondary public offering of 2.875 million shares, valued at $71.5 million, based on today's closing price of 24.88. All of the shares would be sold by the company, with proceeds from the offering to be used for sales and marketing expenditures, capital expenditures and working capital, and general corporate purposes.

CDNow filed with the Securities and Exchange Commission for a secondary public offering of 2.875 million shares, valued at $71.5 million, based on today's closing price of 24.88. All of the shares would be sold by the company, with proceeds from the offering to be used for sales and marketing expenditures, capital expenditures and working capital, and general corporate purposes.