Banking on Google
April 5th, 2006 by jhampton
Google announced today via a press release that they are issueing 5.3M more shares of Class A stock.
Google Inc. (NASDAQ: GOOG) announced today that it
intends to issue 5,300,000 shares of its Class A common stock. This
offering will partially meet the anticipated needs of index funds to
purchase Google Class A common stock when Google is added to the
S&P 500 Index at the close of trading on March 31, 2006.
intends to issue 5,300,000 shares of its Class A common stock. This
offering will partially meet the anticipated needs of index funds to
purchase Google Class A common stock when Google is added to the
S&P 500 Index at the close of trading on March 31, 2006.
Proceeds from the offering will be used for general corporate purposes,
including working capital and capital expenditures, and possible
acquisitions of complementary businesses, technologies or other assets.
Goldman, Sachs & Co. will act as the sole underwriter for the
offering.
Google’s stock has so far brought in record returns for shareholders. Always one of the top 3 Alexa ranked sites, Google looks to reign as search engine king for years to come. Of course, Yahoo! and Microsoft probably have other plans…
Relevant Tags: class a stock, google shares, stock market, stock market movers, stock newsPosted on Wednesday, April 5th, 2006 at 8:31 pm In Stock Market Investing