iXL Enterprises Plans Follow-On Offering
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iXL Enterprises Inc. said it plans a follow-on public offering of 7 million shares of common stock at a price of $37 per share.
The company's stock closed Friday at $37. Of the shares offered, 2 million are being offered by the company, and the remainder is being offered by existing stockholders.
The offering is being managed by Merrill Lynch & Co., Donaldson, Lufkin & Jenrette, Robertson Stephens, First Union Securities Inc. and The Robinson-Humphrey Company and their international affiliates.
iXL said it intends to use the net proceeds of the sale for general corporate purposes, including working capital requirements and acquisitions.
Consumer Financial Network is the creator of YouDecide.com, an e-commerce platform for financial services and related benefits available over the Internet.