Google Secondary Offerring To Raise $4.18 Billion

That’s according to a source I spoke to tonight…more on this later.

Updated: It has officially announced the pricing: it has priced the follow-up stock offering of 14.16 million shares at $295 late Wednesday, offering investors a slight discount from its recent market value. The follow-up sale will raise $4.18 billion and could generate even more money if Google’s investment bankers exercise an option to sell an additional 600,000 shares.

After the offering, Google expects to have nearly $7.1 billion in cash, providing ample financial muscle for potential acquisitions or thwarting potential competitive threats from its larger rivals, Yahoo and Microsoft Corp.

Reuters: Lead underwriters CSFB and Morgan Stanley declined to comment on any timing of pricing the offering. Allen & Co is also a lead underwriter, with 17 other co-managers involved in the deal.

Related:

Google Celebrates IPO Anniversary By Trying To Raise Another $4 Billion

More On Google Fundraising Drive

Comments have been disabled for this post