Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: IntraLinks Holdings (NYSE: IL) popped 12% in intraday trading today after announcing the pricing of a follow-on offering.

So what: The stock has underperformed since the follow-on offering was announced Monday shortly before the market closed. Today's strength is a relief rally as investors learn the company has successfully raised the additional capital it needs.

Now what: The company sold 1,250,000 shares, and certain shareholders of IntraLinks sold an additional 6,250,000 shares, for a total of 7,500,000 shares. The company will use its share of the proceeds to pay down debt, which should reduce its substantial interest expense. However, the insider selling is a negative sign for a company that went public less than a year ago.  

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