Priceline files to raise millions.
Published:
4 August 1999 y., Wednesday
Priceline.com is seeking some big money to fund expenses and possible acquisitions with its latest filing to raise millions. Filed with the Securities and Exchange Commission on July 23 and amended today, Priceline_s offering would involve the sale of up to 6.3 million shares of Priceline stock and up to $287 million of convertible debt. The filing includes some 3.5 million shares that would be sold by shareholders instead of the company. It also includes some 825,000 shares and $37.5 million in debt for overallotment. Ultimately, Priceline could raise more $420 million from the debt and stock offering. The company--which allows customers to name their price for airline tickets, hotel rooms, and new cars--said that it would use the money to fund "anticipated operating losses" and marketing expenses to promote its brand. Also, the company hinted at its future,saying it may use the funds "to make investments in and/or loans to two new business entities with which Priceline.com is exploring the possibility of licensing its brand name and ... business model." Priceline lost $14.3 million in the second quarter on $111.6 million in revenue. Last year, it lost $112 million on $35 million in revenue. The company indicated to investors that it would file for a secondary offering when it announced its second-quarter earnings last month. Priceline raised $160 million by selling 10 million shares in its initial public offering in March. The shares skyrocketed on its first day of trading and now fetch almost five times their initial set price.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission has approved, under EC Treaty state aid rules, an amendment to a Lithuanian scheme allowing aid to be granted of up to €500 000 per company, initially approved on 8 June 2009.
more »
As agreed by the President of the European Commission and the President of the Russian Federation during the last EU-Russia Summit in Khabarovsk, the EU and Russia have strengthened the current dispositions under the EU-Russia Energy Dialogue to prevent and manage potential energy crises, with an enhanced Early Warning Mechanism.
more »
The European Union has today presented to the World Trade Organization the trade facilitation projects it has financed between 2006 and 2008.
more »
The European Commission has authorised, under the EC Treaty’s rules on state aid, a planned state guarantee by Romania to enable Ford Romania SA to access a loan from the European Investment Bank (EIB).
more »
The economic crisis has left many countries with budget deficits well over the 3% limit. The commission is proposing deadlines for reducing the gaps.
more »
Statistics Lithuania informs that in October 2009, against September, prices for consumer goods and services went down by 0.4 per cent.
more »
Lithuania’s Vice-Minister of Foreign Affairs Šarūnas Adomavičius took part in bilateral political consultations with representatives from foreign affairs, commerce and transport ministries of the People’s Republic of China.
more »
Under the budgetary surveillance powers conferred by the EU Treaty, the European Commission today proposed to the Council to set 2013 as the deadline for the correction of the budget deficits in Austria, the Czech Republic, Germany, Slovakia, Slovenia, the Netherlands and Portugal.
more »
A joint partnership between the World Bank, the Moldovan Ministry of Agriculture and Food Industry and the Ministry of Environment was launched in Moldova’s capital in the late days of October.
more »
World Bank Group President Robert B. Zoellick today joins senior officials from the Government of Singapore to launch a new global urban strategy that will guide Bank advisory services and financing in the sector over the next decade.
more »