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TiVo Raises $14,000,000 in Equity Financing
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Posted by: filmusa

TiVo Raises $14,000,000 in Equity Financing
SAN JOSE, Calif., Jan. 10 /PRNewswire-FirstCall/ -- TiVo Inc. (Nasdaq: TIVO - news) announced that it sold 2,147,239 shares of common stock this week to an institutional investor for a sale price of $14,000,000 pursuant to TiVo's December 21, 2001 common stock purchase agreement. This transaction will settle today. Additional details regarding this transaction are contained in an 8-K filed today.

``This fundraising takes advantage of an attractive opportunity to supplement our working capital,'' commented David Courtney, Executive Vice President and CFO of TiVo. ``The proceeds from this transaction further bolster our capital resources and provide for additional flexibility in achieving our goal of cash flow breakeven by the end of our next fiscal year.''

About TiVo Inc.

Founded in 1997 with the mission to dramatically improve consumers' television viewing experiences, TiVo is the creator of and undisputed leader in television services for digital video recorders (DVR). TiVo's leadership has defined and inspired the entire category, earning the company a patent for pioneering inventions associated with DVR software and hardware design. TiVo was the first to deliver on the promise of consumer choice and control over TV viewing, building a loyal and passionate subscriber base with over 97% of customers recommending TiVo to a friend. This enthusiasm has contributed to an overwhelming 300% growth over the past year, bringing the total subscriber base to exceed 280,000.

Today, the TiVo Service is available in the United States on the Philips Personal TV Recorder(TM) and the Sony Digital Network Recorder (TM) and DIRECTV Receivers with TiVo in nearly 3500 consumer electronics retail and online outlets and in the UK under the Thomson Scenium brand. TiVo is headquartered in San Jose, CA. Revenues for fiscal year ended December 31, 2000 were $3.6 million. Additional information can be found at http://www.tivo.com .

This press release contains forward-looking statements, including forward-looking statements related to our business model, our ability to reach cash flow breakeven, and the use of proceeds from the sale of our common stock under the purchase agreement. You can identify forward-looking statements by use of forward-looking terminology such as ``believes,'' ``anticipates,'' ``expects,'' ``plans,'' ``may,'' ``will,'' ``intends'' or the negative of these words and phrases or similar words or phrases. You can also identify forward-looking statements by discussions of strategy, plans or intentions. Such forward-looking statements have known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially from those set forth in such forward-looking statements. Factors that may cause actual results to differ materially include the ``Factors That May Affect Future Operating Results'' and other risks detailed in our Annual Report on Form 10-K for the period ended December 31, 2000, our Transition Report on Form 10-K for the period ended January 31, 2001, our Quarterly Report on Form 10-Q for the period ended April 30, 2001, our Quarterly Report on Form 10-Q for the period ended July 31, 2001 and our Quarterly Report on Form 10-Q for the period ended October 31, 2001, filed with the Securities and Exchange Commission. We caution you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date of this Current Report.

Posted by: jsmeeker

This thread hasn't been shut down yet??

Posted by: jasonl99

quote:
Originally posted by jsmeeker
This thread hasn't been shut down yet??

TiVo stock.

There, that should do it. :D

Posted by: vertigo235

How about....

Man this should make TiVo's stock go up a few cents! Buy now Buy now! ;-)