Audible Sets Offering of 4.8 Million Shares

Audible has announced a public offering of 4.8 million shares of common stock, with 1.5 million shares to be sold by the company and about 3.3 million to be sold by outside shareholders.

Shares of Audible were recently trading down 31 cents, or 1.4%, at $21.89. Based on that price, the company would raise $32.8 million, and outside shareholders would receive $104.5 million.

Comments have been disabled for this post