LinkedIn Announces $1 Bln Stock Offering

(RTTNews) - LinkedIn Corp. (LNKD) said Tuesday that it is commencing an underwritten registered public offering of $1.0 billion of shares of its Class A common stock.

The company will grant the underwriters an option to purchase up to an additional $150 million of its shares of Class A common stock.

LinkedIn said the principal purposes of the offering are to increase its financial flexibility and to further strengthen its balance sheet.

The company said it plans to use the net proceeds of the offering mainly 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.