Loudeye Completes $20 Million Equity Financing
February 17 2004 - 7:05AM
PR Newswire (US)
Loudeye Completes $20 Million Equity Financing SEATTLE, Feb. 17
/PRNewswire-FirstCall/ -- Loudeye Corp. , a worldwide leader in
enabling digital music solutions, today announced it has raised $20
million in gross proceeds in a private placement of common stock.
Loudeye sold 10,810,811 shares of common stock at $1.85 per share
in the financing, to prominent institutional, strategic and
accredited investors. The net proceeds of the offering, after
commissions and expenses, will be used for working capital and
general corporate purposes, including expansion of Loudeye's
business-to-business digital music solutions in the U.S. and
internationally. This announcement does not constitute an offer to
sell or a solicitation of an offer to buy shares ofLoudeye's common
stock. These shares have not been registered under the Securities
Act of 1933 or applicable state securities laws and may not be
offered or sold in the United States or any state thereof absent
registration under the Securities Act andapplicable state
securities laws or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities
laws. This press release is being issued pursuant to and in
accordance with Rule 135c under the Securities Act. Loudeye has
agreed to file a registration statement covering the resale of the
shares of common stock subject to this offering. About Loudeye
Corp. Loudeye is a worldwide leader in enabling digital music
solutions and an outsourcing provider of choice for companies
looking to maximize their return on a digital music investment.
Loudeye combines innovative products and services with the world's
largest digital music archive enabling partners to rapidly and cost
effectively launch complete, customized digital music stores and
services. Loudeye, The Business Behind Digital Music(TM). For more
information, visit http://www.loudeye.com/. Forward Looking
Statements This release contains forward-looking information within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements about the projected use of proceeds.
Loudeye reserves the right to change the use of these proceeds from
time to time as a result of contingencies such as competitive
developments, technological advances, new business opportunities,
including opportunities to acquire products, technologies or
businesses, or other factors, such as risk factors identified from
time to time in Loudeye's filings with the Securities and Exchange
Commission which are available through EDGAR at
http://www.sec.gov/. Loudeye assumes no obligation to update the
forward-looking statements. DATASOURCE: Loudeye Corp. CONTACT:
investors, Mike Dougherty of Loudeye Corp., +1-206-832-4000, or ;
or media, Karen Demarco of mPRm Public Relations, +1-323-933-3399,
or , for Loudeye Corp. Web site: http://www.loudeye.com/
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