Business & Tech
LinkedIn to Offer $1 Billion More in Public Stock
The Mountain View-based professional networking company wants more cash to fuel its growth, financial documents state.
Citing the need to raise more capital, Mountain View-based LinkedIn filed for a$1 billion secondary stock offering on Tuesday, AOL's DailyFinance reported.
According to the Securities and Exchange Commission for S-3, LinkedIn proposes the issuance of nearly 4.1 million in Class A common stock for the purpose of "further expansion of our product development and field sales organizations, international expansion, general administrative matters and for capital expenditures, including infrastructure."
LinkedIn has been listed in the New York Stock Exchange since May 19, 2011 and debut at $45 per share. On its first day it closed 109 percent higher at$94.25 per share. On Sept. 3, 2013 LNKD closed at $246.13, though the company acknowledges the stocks volatility since only in 2013 it's ranged from $109.80 to $247.98.
Since LinkedIn's business and stock price have shown continued growth, in particular in international markets.
Would you buy LinkedIn stock?
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
