Drugstore.com
This article was originally published in The Tan Sheet
Executive Summary
Online retailer sells 10 mil. shares of common stock to a private investment firm for $26 mil. in cash, according to a March 2 announcement. The New York investor "agreed to a one-year lock-up of the purchased shares, and [Drugstore.com] has agreed to file a registration statement covering the resale of those shares," the release states. Drugstore.com plans on using profits from the sale for "general corporate purposes, including (but not limited to) investments in marketing and in technology"...