LinkedIn is planning to sell company stock to anyone willing to buy, in the hopes of raising more than $1B (€760M).
According to the filing
, $1B (€760M) worth of stock will be sold to common investors, while the banks participating in the deal can buy up to 15 percent of the offered shares in addition. That puts the total capital infusion to $1.15B (€873M).
LinkedIn also estimates that following the offering, the company’s cash, equivalents and short-term investments, will rise to $1.85B (€1.4B from $873.4M (€663M). Adding the $150M (€113M) coming from the sale of stock to investment banks, LinkedIn’s cash stash could rise to $2B (€1.51B).
“Based on our current cash and cash equivalents balance together with cash generated from operations, we do not expect that we will have to utilize any of the net proceeds to us of this offering to fund our operations during the next 12 months,” the company said.
It seems, however, the money could serve for funding infrastructure and acquisitions.