Thursday, March 29, 2012

Zynga Prices Secondary Offering

San Francisco-based social games maker Zynga said last night that it has priced its secondary offering, at $12.00 per share. The firm is selling 42,969,153 shares of its Class A stock, all of it from existing stockholders. Zynga has said it will use the offering to facilitate "orderly distribution of shares" and also to increase its public float. The offering will provide significant liquidity to its investors; Zynga is not receiving any proceeds from the offering.