InterCLICK to sell shares for $4.50 each

AP News
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Posted: Dec 16, 2009 12:56 PM

InterCLICK Inc., an online ad network, said Wednesday the company and certain of its board members have agreed to sell around 4 million shares at $4.50 each.

The company said the company will sell 2.875 million shares directly to a group of institutional investors for $4.50 per share for net proceeds of $12 million.

InterCLICK said it would use the proceeds for general corporate purposes.

The company also said certain board members would sell 1.150 million shares, also for $4.50 each.

The offering is expected to close Dec. 21.

Shares fell a penny to $4.90 in midday trading Wednesday.