Interep withdraws stock offering - Broadcasting & Cable

Interep withdraws stock offering

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Radio ad shop Interep National Radio Sales Inc. has pulled the plug on a
financial move slated to raise up to $19 million.

Interep withdrew a registration statement for 6 million shares that was
initially filed with the Securities and Exchange Commission in September.

At the time, Interep's stock was trading at $3.25 per share, but it subsequently fell as
much as 40 percent to $2, although it has rebounded to $2.50 each.

The company explained simply that it doesn't intend to conduct the offering.

Interep was, however, able to borrow $10 million last
month.

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