ORANGE COUNTY BRIEFLY : Acme Communications to Sell 5 Million Shares

Acme Communications Inc., Santa Ana-based owner of nine television stations affiliated with the teen-oriented broadcast network WB, disclosed Friday that it hopes to raise about $92 million by offering 5 million shares of stock with a price range of $19 to $21 a share. Of the shares, 4.25 million will be offered in the U.S. and 750,000 internationally. Acme plans to use $39.4 million to repay its outstanding credit line and $24 million to fund an acquisition. The company will also use the funds to repay debt associated with acquisitions and for general corporate purposes. In August, the company filed plans to offer up to $115 million in common stock but didn’t detail terms of the offering. After the offering, 16.75 million shares will be outstanding.