secondary-offering
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Zynga executives unloading 20 million shares in secondary offering
Zynga is prepping for its upcoming secondary stock offering, which will put 43 million shares of the company up for sale -- 20.2 million of which are "Class B" shares that currently belong to the high ranking Zynga executives.In descending order of shares being sold, cofounder Mark Pincus is unloading the most at 16.5 million shares, roughly 15 percent of his ownership of the company. Directors Reid Hoffman and Owen Van Natta come in second and third, selling 687,626 shares and 505,627 shares respectively. CFO David Wehner is selling more than 50 percent of his ownership in the company by offering 386,865 shares, followed closely by COO John Schappert whose 322,350 buyable shares make up nearly 45 percent of his total stake.It's easy to read into things like this and infer all kinds of assumptions, both positive and negative, about what it means for the company. So instead of doing that, let's all forget the stock market even exists and watch cat videos.
Palm selling some stock to help with Pre, pay off Bono before he breaks kneecaps
Pre fever's in the air, yes, but beneath the elation and excitement of Palm's mega-launch, there's a cold, hard reality: bills are piling up. To that end, the company is looking to queue up a "secondary offering" of its stock to the tune of 18.5 million shares, which -- thanks to a nice bump in value since the Pre's announcement -- should rake in over $100 million in capital. Some $49 million of that would be used to repay part owner Elevation Partners, while the rest would be funneled directly into Pre launch activities and future product development. Palm wants to wait until market conditions are just right for the offering to take place, but it'd like to have the stock sale wrapped up by the 31st; look for a hands-on from us shortly thereafter.
