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Digital Music Group Prices Its IPO; To Raise About $33 Million

Digital Music Group, a seller of digital musical recordings to online stores, which filed for its IPO last year, has now filed an amended S1 with the pricing…it set an estimated price range of $8 to $10 and plans to sell about 3.7 million shares. So it plans to raise about $33 million in the IPO.

The Sacramento, CA.-based firm plans to trade under the ticker “DMGI” on the Nasdaq.

The company acquires digital rights to audio recordings, digitizes music and distributes it to online music stores. As of Sept. 30, about 88% of the company’s revenue came from iTunes, with a current sales agreement in place with Apple through April 2007.

Tons more detail in the S1 filing if you’re interested

Related: Digital Music Firm Files For IPO