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Art Technology Group prices public stock offering

Fri, 02/05/2010 - 4:01am
The Associated Press

Art Technology Group Inc. said Friday that it priced a public offering of 25 million shares of its common stock at $3.50 per share.

The developer of e-commerce software products and related services plans to use the offering's net proceeds for working capital and possible acquisitions.

Art Technology gave the underwriters a 30-day option to buy up to an additional 3.8 million shares to cover any overallotments.

The company develops software for e-commerce. Shares rose 4 cents to $3.77 in premarket trading.

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