LinkedIn Increases Stock Offering to $1.2 Billion

Following the news on Sept. 3, 2013 that LinkedIn (NYSE: LNKD  ) would issue $1 billion worth of new, class A common stock to the public, it has decided to increase the offering to 5,381,166 shares, from 4,165,972, LinkedIn announced yesterday. The company also said it's priced the public offering at $223 per share, bringing the total value to approximately $1.2 billion, according to LinkedIn's press release. 

The stock closed at $238.93 on Sept. 4, 2013.

Including the additional shares, LinkedIn will have 98,948,071 shares of class A common stock outstanding, along with 18,336,655 of class B shares, according to its Sept. 3, 2013 SEC filing. The underwriters of the offering have a 30-day option to purchase up to 807,174 additional shares, LinkedIn said.

According to the company's announcement on Sept 3, 2013, proceeds from the stock offering will be used to gain "financial flexibility and to further strengthen its balance sheet." LinkedIn added it may also use some of the capital raised from the offering for "potential strategic acquisitions of, or investments in, complementary businesses, technologies or other assets."

The enhanced stock offering is expected to close on Sept. 10, 2013.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2624676, ~/Articles/ArticleHandler.aspx, 11/28/2014 10:41:25 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement