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Short Take: Onsale completes stock offering

Onsale today completed a secondary offering of 2.3 million common shares at $28.25 per share. Some 1.7 million shares total were sold by the company, and 590,000 were sold by three selling stockholders, generating about $48 million for Onsale and $16 million for those shareholders. Underwriters NationsBanc Montgomery Securities, BT Alex. Brown, BancAmerica Robertson Stephens, and Hambrecht & Quist may buy up to 345,000 additional shares for over-allotments.

Onsale today completed a secondary offering of 2.3 million common shares at $28.25 per share. Some 1.7 million shares total were sold by the company, and 590,000 were sold by three selling stockholders, generating about $48 million for Onsale and $16 million for those shareholders. Underwriters NationsBanc Montgomery Securities, BT Alex. Brown, BancAmerica Robertson Stephens, and Hambrecht & Quist may buy up to 345,000 additional shares for over-allotments.