Bookmark and Share

Sonic Solutions (SNIC) Raises $30 Million

NOVATO, Calif., Dec. 17 /PRNewswire-FirstCall/ — Sonic Solutions® (Nasdaq: SNIC) today announced the public offering of 3,000,000 shares of its common stock at a price of $9.70 per share.  All of the shares are being offered by Sonic® under its currently effective shelf registration statement.   Sonic will receive proceeds of approximately $27,174,500, net of fees and other expenses related to the transaction.

Sonic intends to use the net proceeds of the sale of the common stock primarily for general corporate purposes.

William Blair & Company is acting as the sole book-running manager and Canaccord Adams is acting as co-manager for the offering.

The Company has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of common stock to cover over-allotments, if any. The offering is expected to close on December 22, 2009, subject to customary closing conditions.

The public offering is being made only by means of a prospectus, copies of which may be obtained, when available, from William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams, Chicago, Illinois 60606 or by calling 1-800-621-0687. Alternatively, the prospectus and the registration statement, of which the prospectus forms a part, are available for free by visiting EDGAR on the SEC web site at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Sonic Solutions

Sonic Solutions® (Nasdaq: SNIC) is powering the digital media ecosystem through its complete range of Hollywood to Home™ applications, services, and technologies. Sonic’s Roxio® products enable consumers to easily manage and enjoy personal digital media content as well as premium Hollywood entertainment on a broad range of connected devices. A wide array of leading technology firms, professionals, and developers rely on Sonic to bring innovative digital media functionality to next-generation devices and platforms. Sonic Solutions is headquartered in Marin County, California.

Sonic, the Sonic logo, Sonic Solutions, Hollywood to Home, and Roxio are trademarks or registered trademarks of Sonic Solutions in the United States and/or other countries. All other company or product names are trademarks of their respective owners and, in some cases, are used by Sonic Solutions under license.

Thursday, December 17th, 2009 Uncategorized
Top Small Cap Market News