Atari Announces Stock Offering
By: D. F. Smith August 11, 2003 5:38 PM ET

Atari, the American branch of the publisher formerly known worldwide as Infogrames, has filed a registration statement with the Securities and Exchange Commission for an public offering of stock, according to a press release issued this weekend. Atari and Infogrames SA, the French company which currently owns 88% of Atari stock, will release some $125 million worth of common stock onto the American market.

Atari plans to use the capital raised in the offering to pay off its existing debts and fund the development of its future efforts. The announcement also notes that the money may go towards acquisition of other game companies, although Atari currently has no such deals set up.

It's not clear how much of its stake Infogrames is selling in this offering, but it's very likely that it will retain a controlling interest in Atari after the offering is sold. If you're interested in picking up a small slice of Atari, prospecti are available through UBS Securities LLC.