hmm… I wonder if this was the reason for all the Roxio rumors of the past week. Could ‘sombody’ have been floating rumors to make the company’s value seem greater? nah 
Updating this to add this note from Briefing.com (what a mess this stock is!):
11:58 ET Roxio downgrade details (ROXI) 6.15 -0.68: Stock is down 10.0% this morning following the co’s 4 mln share private placement and a B. Riley downgrade to Sell from Neutral; firm believes the co’s private placement provides further indication that ROXI is facing a major dilemma with its declining software biz and aggressive spending plans to build the online music distribution biz, which is burning cash; firm is especially concerned about mgmt’s lack of attention to shareholder value. Target is $3.50.
Woah! $3.50 target!? I would like to see the analysis behind that. They obviously think Roxio is throwing away serious money because the stock is already at book (and sales!) value here. Also, SOMEONE thinks the company is worth at least $5.50. Interesting to note that the short interest is MUCH lower than it used to be. As they say, this is what makes markets!
Whoever jumped on that private placement got jacked! What a scam!
Could be! I remember thinking that the people who bought GLW’s last share-dumping a few months ago were crazy. Now look… Sometimes these things make no sense except that people assume the placement price is a floor.
Remember when Softbank dumped a butt-load of shares in UTSI and YHOO last year? The offering price ended up being the near-term bottom for both!