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HolidayBuyer's Guide
Tech Industry

Short Take: Excite offering to fund Netcenter deal

Excite filed to sell 1.35 million shares of stock, of which 1.232 million will be offered by Excite and 117,500 will be offered by selling shareholders. The company will raise about $75.1 million based on today's closing price of 61, excluding fees. The proceeds will fund its deal with Netscape to build out Netcenter and for general corporate purposes. Excite had borrowed $50 million from Intuit for the Netcenter deal.

Excite filed to sell 1.35 million shares of stock, of which 1.232 million will be offered by Excite and 117,500 will be offered by selling shareholders. The company will raise about $75.1 million based on today's closing price of 61, excluding fees. The proceeds will fund its deal with Netscape to build out Netcenter and for general corporate purposes. Excite had borrowed $50 million from Intuit for the Netcenter deal.