LinkedIn Shares Are Falling After It Files To Offer $1 Billion Of Stock

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LinkedIn has just filed an S-3 with the SEC to offer $1 billion worth of class A common stock, CNBC's Julia Boorstin reports.

Based on the stock's August 30 closing price of $240.04, the offering would increase the company's class A share count by 4,165,972 for a grand total of 97,732,877 shares outstanding.

"The principal purposes of this offering are to increase our financial flexibility and to further strengthen our balance sheet," wrote management in the filing.

"We intend to use the net proceeds from the shares we are offering primarily for general corporate purposes, including working capital, further expansion of our product development and field sales organizations, international expansion, general administrative matters and for capital expenditures, including infrastructure. In addition, we may use a portion of the proceeds from this offering for strategic acquisitions of, or investments in, complementary businesses, technologies or other assets."

The underwriters are J.P. Morgan, Morgan Stanley, Goldman Sachs, BofA Merrill Lynch, Allen & Company.

Click here for the whole filing.



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