LinkedIn supersizes offering

Investor's Business Daily

The top social network for professionals said it now plans a follow-on stock offering of $1.2 bil, up from $1 bil earlier. LinkedIn (LNKD) said it's undertaking the offering to increase its financial flexibility and strengthen its balance sheet, and plans to use proceeds for general corporate purposes. Late Wed., LinkedIn reset the offering at about 5.4 mil shares, priced at $223 apiece. The company is also giving underwriters the option to buy up to an additional 807,174 shares. Shares rose 3.9% to 248.35.

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