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Youbet.com Registes a $50 Million Insurance

By George Oates, Jun 27th 2006
Youbet.com, Inc. declared today that it has started a $50 million universal shelf registration statement on Form S-3 with the help of Securities and Exchange Commission.

Once it will have been declared valuable by the Securities and Exchange Commission, the shelf registration declaration would permit Youbet to sell, in a few or in a several public offerings, up to $50 million in aggregate value of common stock, preferred stock, debt securities, stock purchase contracts and units, and warrants, or a combination of them. However, Youbet is not planning such a sale of his securities in the near future.

The Chairman and CEO of Youbet.com, Charles F. Champion, declared: "We are still searching for some potential buyers, from our area of interest, together with other domestic and global opportunities. The additional shelf registration statement will allow Youbet to have the extra flexibility it needs in order to fund these growth opportunities with registered securities. Any draw-down under the registration declaration would need the previous endorsement from our Board of Directors."

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