SCO raises $10 million in stock sale

The SCO Group has raised about $10 million in a stock sale to institutional investors and a company board member, a move that will help the financially struggling company, which is embroiled in a complicated and expensive legal battle against IBM and other companies. The suits are based on the Lindon, Utah-based company's assertion that IBM breached its contract with SCO by moving proprietary Unix technology into the open-source Linux operating system.

SCO said Wednesday that it completed a private placement of 2,852,449 shares of common stock, selling some to institutional investors at $3.50 per share and some to the board member at $3.92 per share. "The proceeds should ensure that the company has adequate funding to pursue its existing business strategies, including the resolution of the company's existing legal proceedings," SCO said in a statement.

[open-mind]

Poor suckers...

SCO is nothing more than a Linux FUD machine, and they're going down the tubes fast.

Say goodbye to that $10 million.

[Earl Benser]

I can't believe.....

... that anyone would be stupid enough to even consider buying
SCO stock????

Maybe these apparently incompetent investors get salvage rights or
something. But then what is there to salvage?

[Frodo420024]

At least they're in the news :)

It might distract people from the little fact that during 2½ years of litigation, they still didn't produce a single line of code that looks offensive.

Wonder about the motivations of those posting that money...

[John Kuzak]

Wonder about the motivations

http://www.analogstereo.com/honda_mdx_owners_manual.htm

[VinnyD]

Who is really behind this investment ?

It would not be a surprise to see Microsoft tie-in. They did that before keep the lawsuit going.

Good Question...

These were my thoughts, exactly. But, even though, I know many of the tawdry-facts behind the Microsoft "Get The Farce" campaign, and have read the numerous connections between Microsoft and SCOs "anti-Linux" actions, I still feel a genuine-twinge of surprise that anybody, even Microsoft, could be that stupid.

I guess, and hope, that we will finally know all the facts, someday.

What a joke!

You guys are so paranoid of Microsoft, it's laughable. You folks in the open source movement should be more worried about Microsoft enforcing the 24 or so patents that Linux is currently infringing upon, much less IBM's alleged infringement. Your own ridiculous leaders of the OS movement found the violations themselves a few summer's back. But you weren't aware of that were you? You selectively choose to forget that as you wish the SCO case would go away.