Stock Plan Pushes FutureLink Shares Down

FutureLink Corp.’s stock fell $1.50, or 17%, to $7.31 a share Thursday in Nasdaq trading after the Irvine Internet services company said it is offering 6 million additional shares of stock at $7 each.

The company said it intends to use the proceeds to pay off debt related acquisitions, to fund its operations and to meet working capital needs.