LinkedIn Files Registration Statement for Proposed Follow-On Offering
MOUNTAIN VIEW, Calif., Nov. 3, 2011 -- LinkedIn Corporation (NYSE:LNKD) announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission (the "SEC") for a proposed public offering of shares of its Class A common stock. LinkedIn is proposing to sell approximately $100 million of its shares, as well as any shares issued to the underwriters to cover over-allotments. The remaining shares will be sold by existing stockholders.
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. 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 bookrunning managers of the proposed offering will be Morgan Stanley & Co. LLC, BofA Merrill Lynch and J.P. Morgan Securities LLC. Allen & Company LLC and UBS Securities LLC will be acting as co-managers. This offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, 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.
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement on Form S-1 may be accessed through the SEC's website at edgar.sec.gov.
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.