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Google selling 14.2 million more shares....

jamesp

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another interesting article at http://abcnews.go.com/Business/wireStory?id=1048390

MOUNTAIN VIEW, Calif. Aug 18, 2005 — Google Inc. on Thursday said it has filed with the Securities and Exchange Commission to sell 14.2 million shares of class A common stock, an offering worth more than $4 billion at Wednesday's closing stock price.

Shares of Google, which have more than tripled since going public a year ago, closed Wednesday at $285.10 on the Nasdaq Stock Market, giving the offering an estimated value of $4.04 billion.

In pre-market trading, Google shares slipped $9.10, or 3.2 percent, to $276. The stock made its trading debut at $85 on Aug. 19 last year, and climbed as high as $317.80 in mid-July.

Google, operator of the leading Internet search engine, said it intends to use the net proceeds from the offering for general corporate purposes, including working capital, capital expenditures and possible acquisitions of other businesses or technologies.

The company, however, said it has no current agreements or commitments to any material acquisitions. Pending acquisitions, Google plans to invest the proceeds in highly liquid, investment-grade securities, according to the SEC document.

Following the stock sale, Google will have about 191.1 million class A shares outstanding. Including about 101.7 million class B shares of which 79 percent are held by co-founders Larry Page and Sergey Brin, and Chairman and Chief Executive Eric Schmidt Google's outstanding stock will total about 292.8 million shares.

Morgan Stanley & Co. and Credit Suisse First Boston are managing the proposed offering, along with underwriter Allen & Co. The underwriters have the option to purchase up to 600,000 additional class A shares to cover over-allotments.

Last year, Google earned $399.12 million, or $1.46 per share, and had revenue of $3.19 billion. As of June 30, the company held $2.95 billion in cash.

Hmm.....I like Google. They have some absolutely brilliant people working for them. And I would love to see them topple Microsoft as a word economic superpower. From the looks of things they might just be well on their way.
 

jamesp

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junglizm said:
I own a few shares of Google. :)
Really? Thats pretty cool, though I heard that their stock dropped a few points.....
 

Jung

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Inside Goolge is one of the feeds I read regularly, so I followed it around the time they were getting reading for their IPO. I wasn't able to grab any IPO, but I got a few shares shortly after.

Actually, Google is sky high right now. GG Google. :thumbsup: