Briefly

Irvine-based Autobytel Inc. said Tuesday that it completed the sale of 5 million shares of common stock to a group of institutional investors. The stock was priced at $5.40 a share and the online car seller received gross proceeds of $27 million from the sale. Autobytel shares slipped 17 cents to $5.97 in Nasdaq trading. They have risen 113% this year. The company said it expects to use the proceeds of the offering for general corporate purposes, “including potential acquisitions.”