Google said it plans to sell more than 14 million additional Class A shares in a secondary offering that could raise 4 billion dollars based on the it current stock price of 285.09 dollars.

Google has given underwriters the right to purchase up to an additional 600,000 shares to cover over-allotments.

Morgan Stanley, Credit Suisse First Boston and Allen and Co. are leading the underwriting.

Google said it would use the proceeds for general corporate purposes, including possibly acquisitions, though no agreements or commitments have been made for any material acquisitions.

Google lists about 2.95 billion dollars in cash on its balance sheet as of June 30.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved