theglobe.com Closes Secondary Offering
NEW YORK, May 24 /PRNewswire/ -- theglobe.com, a leading online network which fuses lifestyle and entertainment content and commerce with personal interaction, today announced that the Company closed its follow on offering of 6 million shares. Of these shares, 3.5 million were sold by the Company and 2.5 million shares were sold by selling stock holders.
The underwriters exercised their over allotment of options on Wednesday, May 20th and sold an additional 900,000 shares for $20 a share.
theglobe.com network is one of the world's leading online destinations in the
United States and abroad. Approximately *10.2 million individuals visited
the site in March 1999, according to DoubleClick, as audited by ABC Interactive.
The intuitive design has been constructed to foster a user's creative and interactive
experience and is setting a standard for online networks by providing members with
a wealth of services and content. As their online home, theglobe.com offers
users a full service department store, person-to-person auctions, popular games,
the latest news, stock quotes, free e-mail, chat events, discussion groups, and
the ability to read or create personalized member pages.