In an effort to offer investors up to $400 million of its common stock, preferred stock, depositary shares, debt securities and warrants, Ask Jeeves has filed a Form S-3 with the SEC. Once the SEC declares the filing effective, Ask Jeeves will be allowed to offer the requested amount of stock.
Once approved, Ask Jeeves will be permitted to make these sales in one or more public offerings. Until this point, Jeeves is not allowed to sell these securities and/or take offers for purchase purposes. According to Reuters, a company under a shelf registration may sell securities in one or more separate offerings with the price and terms to be determined at the time of sale.
Within the filing, Ask Jeeves discusses its plans for the revenue these sales will generate:
“We currently anticipate using the net proceeds to us from the sale of securities offered by this prospectus will be used for general corporate purposes, working capital and capital expenditures. We may also use the proceeds to fund acquisitions of technologies or businesses or to obtain the right to use additional technologies. However, we currently have no commitments or agreements for any specific acquisitions or investments. We may also use the proceeds to purchase or redeem our outstanding securities.”
Murdok | Breaking eBusiness News
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