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SCO Group Receives $50 Mil Shot in Arm

Oct 17, 2003, 13:00 (29 Talkback[s])
(Other stories by Iain Ferguson, Stephen Shankland)


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AP/USA Today: SCO Group Gets $50 Million Investment

[ Thanks to blaine for this link. ]

"The SCO Group on Thursday said it has received a $50 million private investment led by BayStar Capital.

"The investment was structured as a private placement of non-voting preferred shares, convertible into common equity at a fixed conversion price of $16.93 per share.

"Upon conversion, the investors will own about 2.9 million shares of SCO common stock, representing 17.5% of the company's outstanding shares..."

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ZDNet Australia: $50m Injection Means We're Staying: SCO AU Boss

"The SCO Group's regional head has lauded a new US$50 million capital injection as reinforcing the fact the controversial company won't go away, but dismissed remarks from US headquarters indicating early licence prices for Australian and New Zealand Linux users had been determined.

"Kieran O'Shaughnessy lauded a US$50 million investment in the SCO Group by BayStar Capital as 'refuting the idea that SCO is a dying company' with its Linux intellectual property actions its 'last gasp efforts...'"

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