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Activision Files to Sell 5 Million Shares

July 31, 2001|Bloomberg News

Activision Inc. filed to sell about 5 million of its shares, worth about $177 million at latest prices, in a public offering. The video game maker's shares, which have quadrupled over the last year, closed off $2.48 at $35.39 on Nasdaq, before the news was announced.

The offering will increase Activision's outstanding shares by 15% to 38.3 million, according to the filing with the Securities and Exchange Commission.

The Santa Monica-based company said it will use the funds for general uses, possibly including "additions to working capital, financing of product development, capital expenditures, joint ventures and strategic acquisitions."

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