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Sonic Foundry Announces Public Offering
Sonic Foundry Inc. (NasdaqNM: SOFO) announced an offering of 3,000,000 shares at $3.75 per share to close December 27, 2006. The announcement was completed within minutes of the publishing of our latest report. We had increased our 12-month target price to $6.50 per share from $3.00 per share. We also increased our risk assessment for potential volatility leading up to the company’s first quarter earnings release to High from Moderate. See full report.
