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Navarre Files Shelf Registration For $20M In Stock

MINNEAPOLIS (AP) ¿ Home-entertainment software maker Navarre Corp. said Monday it filed a shelf registration statement to sell up to $20 million in stock.

The statement has been filed with the Securities and Exchange Commission but is not yet effective. Specific terms will be outlined later in a prospectus.

"The flexibility and efficiency that is provided by the increasingly common shelf registration process is a significant benefit to the company and our shareholders," Cary L. Deacon, president and chief executive, said in a statement.

At the stock's Monday closing price of $1.78, the registration would total about 11.2 million shares. Navarre currently has about 36.3 million shares outstanding.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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