LinkedIn announces pricing of its follow-on offering
Mountain View, Calif. -- November 16, 2011 -- LinkedIn Corporation (NYSE:LNKD) today announced the pricing of 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.
The principal purposes of this offering are to raise capital for the company, facilitate an orderly distribution of shares and increase the company's public float. The proceeds of the primary portion of the offering will be used to provide additional working capital for LinkedIn, including further expansion of its product development and field sales organizations, for capital expenditures and potential strategic acquisitions or investments.
The bookrunning managers of the offering are Morgan Stanley & Co. LLC, BofA Merrill Lynch and J.P. Morgan Securities LLC. Allen & Company LLC and UBS Securities LLC are co-managers.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 16, 2011. This offering is being made by the company and selling stockholders only by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at email@example.com; BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department, or email firstname.lastname@example.org; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (866) 803-9204.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.