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February 21, 2006

Loudeye's money grab

Posted by Kim Peterson at 1:50 PM

In a regulatory filing today, Loudeye said it plans to raise as much as $8.25 million through stock purchase deals with institutional investors.

The company also said it has until July 3 to get its share price above $1 to avoid delisting from the Nasdaq stock market. One way it's going to try to do that is with a reverse stock split. The company didn't say what the split ratio will be, however.

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