XM Satellite Radio Issues Stock Offering

Yahoo: XM Satellite Radio issued 9.7 million shares of common stock valued at $300 million yesterday and said it plans to use the money for working capital and general corporate purposes, including the launch of future satellites, payments for third-party programming and repayment of debt...

Related:

--XM Could Launch XM-4 Satellite A Year Early: Bear Stearns reiterated an "outperform" rating and $39 target price and concluded that XM's spending to increase market size (and its market share) bodes well for the stock over the long term...