LinkedIn (LNKD) Prices 8.75M Common Secondary Offering at $71/Share
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LinkedIn Corporation (NYSE: LNKD) has priced an 8,750,000 shares of its Class A common stock at $71.00 per share in a follow-on public offering.
In addition, the underwriters have a 30-day option to purchase up to 1,312,500 additional shares of Class A common stock from LinkedIn to cover over-allotments, if any. LinkedIn will sell approximately 1,300,000 shares in the offering; the remaining shares will be sold by existing stockholders. As part of the underwriting procedures, all selling stockholders, as well as all officers and directors, have agreed to lock-up agreements for a period of 90 days following the offering.
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In addition, the underwriters have a 30-day option to purchase up to 1,312,500 additional shares of Class A common stock from LinkedIn to cover over-allotments, if any. LinkedIn will sell approximately 1,300,000 shares in the offering; the remaining shares will be sold by existing stockholders. As part of the underwriting procedures, all selling stockholders, as well as all officers and directors, have agreed to lock-up agreements for a period of 90 days following the offering.
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