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.
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