Nah, just a secondary offering:
UPDATE: Astute reader notes that the offering amount is Pi without the three….
‘
Google Inc. Files Registration Statement with the SEC for a Proposed
Public Offering
MOUNTAIN VIEW, Calif. – August 18, 2005 – Google Inc. (Nasdaq:
GOOG) announced today that it has filed a registration statement with
the Securities and Exchange Commission for a proposed public offering
by the company of 14,159,265 shares of Class A common stock.
The managing underwriters of the proposed offering are Morgan Stanley &
Co. Incorporated and Credit Suisse First Boston LLC, acting as joint
book-running managers, and Allen & Company LLC, acting as co-manager.
The underwriters have an option to purchase up to 600,000 additional
shares of Class A common stock from Google solely to cover
over-allotments, if any.
A copy of the prospectus relating to these securities may be obtained,
when available, from: Morgan Stanley & Co. Incorporated, Prospectus
Department, 1585 Broadway, New York, NY 10036 or Credit Suisse First
Boston LLC, Prospectus Department, One Madison Avenue, New York, NY
10010.
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes
effective. This release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state.
This is a curious move. They have about $3b in cash on their balance sheet already and they will generate another $500-700m by the end of the year. If they wanted to make an acquisition they could always use their stock. And their style so far has been to do very small deals anyway. Why come to the public markets? Any ideas from anyone?
I suspect they believe their stock price is high. But the words Skype and buying dark fiber come to mind.
Well said, they have plenty of cash for things that we would expect from them and their stock is great currency for acquisitions so it may be time to think bigger about Google’s ambitions. Cash when they already have loads of value in their stock hints at internal projects that need big $ to build out. If they go the wi-fi route I hope they bring it to Steamboat Springs where I live.
I’ve always wanted to see Google buy InfoSpace and build multi-branded search-focused Web sites powered solely by Google results (except MetaCrawler, which would license other results). The WebCrawler brand is still powerful and under-utilized currently.
The power of the brands is where’s it at.
Ciao,
Doug
One question about this post: Another big bubble is blowing up itself? or only enterprises with intercreativity policy will grow in the future in Internet?. I invite you read “Ten years of intercreativity: from Netscape to Wikipedia” in http://www.digitalismo.com, a spanish weblog made from University of Vic.
Funny that they’re now raising (pi-3) million shares. In the S-1 form they filed with the SEC back in early 2004, they said they wanted to raise 2.718,281,828 dollars, or the number e.
see (http://en.wikipedia.org/wiki/Google#Financing_and_IPO)
John
Did you notice Wikipedia’s request for funds?
“Wikimedia needs your help in its US$200,000 fund drive. See our fundraising page for details”
I got impression that Google is supporting them… Is there some story behind this?
Brad…I must agree with your comments concerning this article.
Brad…I must agree with your comments concerning this article.