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Tuesday, September 05, 2006

TiVo Goes Back to the Trough

"We are so happy about our recent rise in share prices that we want you to buy more shares....."

TiVo Inc. (TIVO-NASDAQ) announced today a follow-on public offering comprised of 8,264,463 shares of common stock. Based on the recent run in stock from $6.50 in mid-August to more than $8.00 recently, this is probably not a huge shock. The latest data showed 76.6 million shares in TiVo's float, with about 86.2 million shares outstanding.
Citigroup is the sole book runner for this offering. The Company intends to use the net proceeds from this offering for general corporate purposes (or survival capital, in other words). Shares of TIVO are trading down over 6% from the $8.15 close today at $7.70.

Jon C. Ogg
September 5, 2006
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