Professional networking site LinkedIn is planning to offer more shares to protect its stock price from plummeting in the coming weeks.
According to a filing this week with the Securities and Exchange Commission, LinkedIn and its top shareholders plan to sell 8 million more shares in a secondary offering. The filing said that about 1.3 million of those shares will be sold by LinkedIn, while the remaining LinkedIn 6.7 million shares will be sold by stockholders. The offering is expected to help the company generate $100 million and its shareholders a sizable sum of their own.
But LinkedIn'… Read more