XM Satellite Radio Holdings is now in a position to operate well into the fourth quarter of 2002, thanks to a $129 million stock offering underwritten by Morgan Stanley Company. XM made the announcement in a press release dated December 10.The total allotment of XM stock was 11.5 million shares, according to the announcement. That, combined with a recent $66 million financing agreement with Boeing Company, should be sufficient to keep XM afloat for the next year, company officials believe.
The financing was necessary to insure XM's operations while it builds a subscriber base,…