RealNetworks Inc has filed with the Securities and Exchange Commission for a secondary offering of 4 million shares of its common stock. Of that total, 3.53 million will be sold by the company and the rest by existing stockholders, including chief executive Robert Glaser. The net proceeds to the company, which will be used for the standard general corporate purposes, should amount to more than $320m based on current stock prices.
The underwriters of the sale, including lead manager Goldman Sachs & Co, BancBoston Robertson Stephens, DLJ, Lehman Brothers and Thomas Weisel Partners, have been granted an option on 600,000 shares to cover over-allotments. The shares being sold by the company represent about 5.0% of the total shares outstanding after the offering and Glaser will retain a roughly 39% stake. The stock closed at $92.375 Tuesday, up $5.7188.
