LodgeNet Interactive Slipping on Discounted Stock Offering (LNET)
Wednesday, March 17, 2010 - 10:43
Written on Wed, 03/17/2010 - 10:43am
By Chip Brian

3/17/2010-Shares of LodgeNet Interactive (NASDAQ:LNET) are trading 4.5% lower to $6.29 Wednesday after the the provider of television and Internet service said it will sell at least 2.2 million shares at a 9% discount to Tuesday's closing price as it raises money to deploy a new high-definition interactive system.
The stock will be sold at $6 apiece, and it traded down 19 cents, or 2.9%, to $6.40 in early trading Wednesday.
LodgeNet is required to apply half of any offering's proceeds toward its bank credit facility.

Keywords: lodgenet interactive Stock Offering discount

Ticker(s): LNET

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