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XM Prices Stock Offering

XM Prices Stock Offering

XM Satellite Radio Holdings Inc. has priced at $26.50 per share an underwritten public offering of 20 million shares of its class A common stock, comprising 7 million new shares and 13 million shares being sold by “certain selling shareholders.” One of the selling shareholders has granted the underwriters an option to purchase up to 3 million additional shares to cover over allotments. XM expects the deal to close by Jan. 28.
The transaction is expected to close on or about January 28, 2004.