SEC Watch: Yahoo Issued Nearly $52 Million In Shares As Part Of Bix Purchase
By Staci D. Kramer - Fri 04 May 2007 10:25 PM PST
When Yahoo filed its 10K in February we reported on the company’s acquisitions of Bix, Kenet Works and MyBlogLog.com for a total of $42 million cash. However, in an 8K filing this week related to Right Media, Yahoo says it issued an an aggregate of 1,727,173 shares—representing less than 1 percent of outstanding shares—of common stock on Feb. 7 “in connection with the acquisition of Bix.com, Inc.” The stock closed at $29.89, which we’ve confirmed with Yahoo is the right value to put on these shares when issued; at that price, the stock would have been worth $51.65 million. (The shares would have been worth $53.5 million at Friday’s close given the boost from reports of talks with MSFT.) Founded by Mike Speiser, Bix had raised about $6.78 million in funding from Sutter Hill Ventures, Trinity Ventures and Stanford University.
