This excerpt taken from the SOHU 10-K filed Feb 28, 2006.
Our common stock is traded on the Nasdaq National Market, under the symbol SOHU. Public trading in our common stock commenced on July 12, 2000. Prior to that date, there was no public market for our common stock. The following table sets forth the high and low sale prices of our common stock as reported by the Nasdaq Stock Market for the quarters indicated.
The closing price of our common stock on February 22, 2006 as reported by the Nasdaq National Market was $22.33.
As of February 22, 2006, there were approximately 52 holders of record of our common stock. As of November 15, 2005, the latest practicable date, there were approximately 15,600 beneficial holders of our common stock.
Since inception, we have not declared or paid dividends on our common stock and we do not expect to pay any dividends in the foreseeable future.
Securities Authorized for Issuance Under Equity Compensation Plans
Additional information required under this item is incorporated herein by reference to Item 12 of this Annual Report on Form 10-K under the heading of Equity Compensation Plan Information.
Recent Sales of Unregistered Securities
Issuer Purchases of Equity Securities
For the quarter ended December 31, 2005, we have not repurchased any equity securities.
Report of Offering of Securities and Use of Proceeds Therefrom
Initial Public Offering of our Common Stock
On July 17, 2000, we completed an underwritten initial public offering of our common stock pursuant to a Registration Statement on Form S-1 (SEC file No. 333-96137), which became effective on July 10, 2000. Our net proceeds, after deduction of the underwriting discount of $4.2 million and offering expenses of $3.2 million, were approximately $52.4 million. None of the expense payments were made to the underwriters, to any of our directors, officers or affiliates or to any persons owning 10% or more of any class of our equity securities.
Through December 31, 2005, we had used $8.2 million of the net proceeds from the offering for operating activities, purchases of fixed assets, funding for certain equity investments and strategic acquisitions of complementary businesses. The remaining net proceeds from the offering have been invested in cash and cash equivalents, and marketable debt securities. The use of the proceeds from the offering does not represent a material change in the use of proceeds described in the prospectus contained in the Registration Statement on Form S-1 described above.
In November 2005, the Board of Directors of the Company approved a stock repurchase program pursuant to which the Company can purchase from time to time up to $15 million worth of outstanding shares of its common stock from open market. As of December 31, 2005, the Company had not repurchased any common stock under this new program.