ABC News is reporting that Google Inc. said it has filed with the Securities and Exchange Commission to sell 14.2 million more shares of class A common stock on Thursday, 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.
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.
Source: ABC News
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