By Sheri Kasprzak
New York, Dec. 14 - LodgeNet Entertainment Corp. settled a private placement of its stock for $23.35 million.
The company sold 1 million shares to PAR Capital Management, Inc. in the deal.
The offering was conditional upon the completion of LodgeNet's acquisition of Ascent Entertainment Group. The deal closed Dec. 13.
Based in Sioux Falls, S.D., LodgeNet provides broadband and television services to hotels and resorts.
| Issuer: | LodgeNet Entertainment Corp.
|
| Issue: | Stock
|
| Amount: | $23.35 million
|
| Shares: | 1 million
|
| Price: | $23.35
|
| Warrants: | No
|
| Investor: | PAR Capital Management, Inc.
|
| Settlement date: | Dec. 13
|
| Stock symbol: | Nasdaq: LNET
|
| Stock price: | $23.20 at close Dec. 13
|
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