| Mandrakesoft in $7.3 million stock sell-off |
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Shareholders of Mandrakesoft have approved a stock sale to raise as much as $7.3 million, a move that should make it easier for the Paris-based Linux seller to pursue its acquisition strategy.
A vote on Monday approved the sale of up to 1 million shares at 6 euros, or $7.31, per share, Mandrakesoft said in a statement Thursday. The company's stock was valued at 5.69 euros, or $6.93, on Thursday.
"We need this cash to clean up our balance sheet," Chairman Jacques Le Marois said in an interview.
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