Volume Alert: Lodgenet On Proposed Offering (LNET)

Posted in General 
June 22nd, 2009

LodgeNet (LNET) shares are down more than 20% on more than one times average volume around 10 a.m. Eastern after the company announced a proposed private offering of $50 million worth of convertible preferred stock as Series B Cumulative Perpetual Convertible Preferred Stock. The $50 million compares to a $102 million market before dilution. 

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