Sonic Solutions announced the public offering of 3 million shares of its common stock at $9.70 per share.
According to the statement, the company will receive approximately $27.2 million (net fees and other expenses) and intends to use the proceeds primarily for general corporate purposes.
Sonic has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares to cover any over-allotments. The offering is expected to close on December 22, 2009.
Sonic Solutions trades on the NASDAQ under the symbol SNIC.
For more information visit: www.sonic.com