Majesco Announces $100 Million Stock Offering

Author: by Andrew Wilson, Simon Carless

Increasingly ambitious game publisher Majesco has announced a filing with the SEC that proposes a new public offering of up to $100 million of common stock, a move that will lead to the company being publically listed on the NASDAQ stock market. Although originally known as a budget publisher, Majesco has recently signed a development deal with Starbreeze, best-known for the critically acclaimed The Chronicles Of Riddick for Vivendi Universal Games on the Xbox. This is just one of the latest product acquisitions for the company, which has also announced a deal to publish Tim Schafer-created psychedelic action game Psychonauts, as well as a Jaws-licensed shark attack game from Ecco The Dolphin developers Appaloosa Interactive. The company's Game Boy Advance Video products, which include episodes of SpongeBob SquarePants, Yu-Gi-Oh!, and Dragonball GT watchable on a GBA, have also been a significant growth market for the firm. The company is already public, following a merger with ConnectivCorp in late 2003, but only traded on the relatively minor OTC BB stock market until now. RBC Capital Markets, JMP Securities, Harris Nesbitt and Wedbush Morgan Securities are acting as the underwriters in this new NASDAQ offering.