LinkedIn Announces Proposed Follow-On Offering
MOUNTAIN VIEW, Calif., Sept. 3, 2013 - LinkedIn Corporation (NYSE:LNKD) announced today that it is commencing an underwritten registered public offering of $1.0 billion of shares of its Class A common stock. In addition, LinkedIn will grant the underwriters an option to purchase up to an additional $150 million of its shares of Class A common stock.
The principal purposes of the offering are to increase LinkedIn's financial flexibility and to further strengthen its balance sheet. LinkedIn intends to use the net proceeds of the offering primarily for general corporate purposes, including working capital, expansion of its product development and field sales organizations, international expansion, general administrative matters and for capital expenditures, including infrastructure. It may also use a portion of the net proceeds from the offering for potential strategic acquisitions of, or investments in, complementary businesses, technologies or other assets.
The lead bookrunning managers of the proposed offering are J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. Goldman, Sachs & Co. and BofA Merrill Lynch are acting as joint bookrunning managers of the proposed offering. Allen & Company LLC is acting as co-manager.
An effective registration statement relating to the securities was filed with the Securities and Exchange Commission on September 3, 2013. The offering is being made only by means of an effective shelf registration statement, including a preliminary prospectus and final prospectus, copies of which may be obtained, when available, by contacting J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or telephone: 1-866-803-9204; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649, email: firstname.lastname@example.org, telephone: 1-866-471-2526, or email: email@example.com; or BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, email: firstname.lastname@example.org.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
Founded in 2003, LinkedIn connects the world's professionals to make them more productive and successful. With more than 238 million members worldwide, including executives from every Fortune 500 company, LinkedIn is the world's largest professional network on the Internet. The company has a diversified business model with revenue coming from Talent Solutions, Marketing Solutions and Premium Subscriptions products. Headquartered in Silicon Valley, LinkedIn has offices across the globe.