GOOG Prices Secondary – Is This a Pound of Flesh, Or Normal…?

GOOG had a bad day today, it closed down 8.68 points at 303. But after hours, Google announced it had priced its secondary offering at $295 (release below), another eight buck discount to its current price. Can any Wall St. mavens out there educate us as to why? Is this a trailing three month average, perhaps? Or a hedge to make sure the banks can do what they usually do, which is distribute underpriced shares to preferred clients, who make out on the “pop”? Google choose not to do an auction this time around, and auction pioneer WR Hambrecht is not a listed manager on the deal, as it was on the IPO.

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Google Inc. Prices Public Offering Of Class A Common Stock

MOUNTAIN VIEW, Calif. – September 14, 2005 – Google Inc. (NASDAQ:

GOOG) announced today the public offering of 14,159,265 shares of Class

A common stock, all of which are being sold by Google, at a price of

$295.00 per share. 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.

The managing underwriters of the public offering are Morgan Stanley &

Co. Incorporated and Credit Suisse First Boston LLC, acting as joint

book-running managers, and Allen & Company LLC, Citigroup, JPMorgan,

Lehman Brothers, UBS Investment Bank, Thomas Weisel Partners LLC, and

Blaylock & Company, Inc., acting as co-managers.

A copy of the prospectus relating to this offering may be obtained

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.