Sonic Foundry completes $11.25M stock offer

Madison, Wis. - Sonic Foundry, Inc. has closed a public offering of three million shares of common stock in which it raised $11.25 million for general corporate purposes.

The company announced on Dec. 21 the offering of common stock at $3.75 per share, marketed to institutional investors following a “shelf-registration statement” previously filed with the Securities and Exchange Commission.

Sonic Foundry, which develops a rich-media product called MediaSite, will use the proceeds of this and possible future stock offerings to support research and development, capital spending, and intellectual property protection. Robert W. Baird & Co. acted as sole underwriter for the recent offering.

For more details about Sonic Foundry's latest share price information, click on NASDAQ:SOFO.

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