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May 15-31, 2004 Edition
to Expand Products05/06/04Alibris, the online retailer that specializes in used books, will launch a public offering later this year to raise an estimated $30 million for company operations. Documents filed with the Securities and Exchange Commission say the company plans to offer 2.5 million public shares at about $10 to $14 per share. It plans to lists its stock on Nasdaq under the symbol “ALBR.”
The new infusion of capital will be used to expand Alibris’s product line, and sales and marketing operations and general corporate expenses. Some funds may also be used for acquiring other companies, though Alibris says it has not signed contracts with anyone.
Alibris reported a 33.6 percent increase to $13.8 million in first quarter revenues for the first quarter of 2004, ending March 31. The company trimmed back losses from $1.5 million in last year’s comparative period to 4901,000 this year.
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