ALVISO, Calif. (AFX) - TiVo Inc., a maker of digital video recorders, sold about 8.26 million common shares in a public offering, the company said in a Securities and Exchange Commission filing Tuesday.
After estimated offering expenses of $310,000, the company received net proceeds of $64.7 million from the underwritten offering, which closed Sept. 11. Citigroup Global Markets Inc. served as underwriter.
Proceeds from the sale will be used to fund research, development, sales and marketing efforts, as well as to reduce debt and for capital expenses.
TiVo had about 87 million shares outstanding when the offering was announced Sept. 5.
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