Giants Release Josh Brown Seattle Arena Could Be Privately Funded MLB's Manfred "Optimistic" On CBA Talks Six Sports Added To Olympic Channel Daily Digit FS Southeast, Grizzlies Agree To Extension Sports World Centers On Cleveland Tonight Turner, Google Creating Real-Time NBA Ads NBA Poised For Big Season With Eyes On Superteams Under Armour Has Slowest Sales Growth In Six Years
CART has filed a registration statement with the SEC to sell 4,573,000 shares of common stock in an IPO. The company intends to use proceeds from the offering, to be underwritten by Jefferies & Company, Inc. and A.G. Edwards & Sons, Inc., to purchase the American Racing Series, Inc., and for other general corporate purposes, including funding future acquisitions and developing other racing-related businesses and properties (CART). In Indianapolis, Bill Koenig reported that CART "did not disclose the expected price of offering nor how much money it expects to raise." Koenig wrote that the stock sale "comes at a crucial time" for CART, as it "wants to increase its appeal beyond die- hard race fans" (INDIANAPOLIS STAR-NEWS, 12/23).