EdgeWater 10/25/2010 10:52:55 PM
News / Business

Stocks Mixed on Equity Offerings (GORO, RDEA, FTLK)

Stocks Mixed on Equity Offerings

Gold Resource Corporation (AMEX:GORO) surged 1.22% to $20.45. The company filed a registration with the U.S. Securities and Exchange Commission for the sale, from time to time, of up to 3,475,000 shares of Common Stock on behalf of Selling Shareholders.

The stock went up more than 39% year-to-date. At current market price, the market capitalization of the company stands at $1.01 billion.

Gold Resource Corporation is engaged in the exploration for and production of gold and silver, primarily in Mexico. The Company holds a 100% interest in five properties in Mexico's southern State of Oaxaca.

Ardea Biosciences, Inc. (NASDAQ:RDEA) added 1.21% to $22.60. The company filed a registration with the U.S. Securities and Exchange Commission to sell, from time to time, up to $100 million of Common Stock, Warrants, Units, or any combination thereof.

The stock opened at $22.59 and traded within the range of $21.69-$23.89. The stock went up more than 57% year-to-date.

Funtalk China Holdings Ltd. (NASDAQ:FTLK) dropped 2.63% to $7.77. The company announced that it intends to offer, subject to market and other conditions, approximately 7,000,000 ordinary shares in a public offering. In connection with this offering, the underwriters will have an option to purchase up to an additional 1,050,000 ordinary shares from the Company.

The Company plans to use the net proceeds from the offering to expand its retail network, including acquiring interests in other retail chains and establishment of new retail outlets.

The stock went up more than 11% year-to-date.

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