SportsLine USA Inc. said it filed a
registration statement with the Securities and Exchange Commission in
connection with a public offering of four million shares of its common stock.
The company said that 2,275,430 shares are being offered by SportsLine USA,
and
1,724,570 shares are being offered by selling shareholders, according to Reuters.
The offering is being conducted by an underwriting group led by BancAmerica
Robertson Stephens, NationsBanc Montgomery Securities, PaineWebber Inc., and
Salomon Smith Barney.
SportsLine said proceeds from the offering will be used for general corporate
purposes, including expansion of the company’s marketing and advertising sales
efforts, content development and licensing, international expansion, and
capital expenditures.
Also SportsLine may use a portion of the net proceeds to acquire or invest in
complementary businesses, products, and technologies, the company said in a
statement.