NetGravity Files for Secondary Public Offering
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Online ad software and service company NetGravity Inc. filed a registration statement with the Securities and Exchange Commission for a proposed secondary public offering of 3.6 million shares of common stock.
The San Mateo, CA-based company said 2,738,440 shares will be offered by the company and 861,560 shares will be offered by certain NetGravity stockholders. The company granted the underwriters an option to purchase an additional 540,000 shares of common stock to cover over allotments.
NetGravity said it intends to use the net proceeds from the offering for working capital and other general corporate purposes and capital expenditures.
The offering is being made through an underwriting group managed by BancBoston Robertson Stephens Inc., NationsBanc Montgomery Securities LLC and FAC/Equities, a division of First Albany Corp.