Zynga Inc. has priced 42.9 million shares of Class A common stock at $12 per share in a secondary offering. All of the shares will be sold by existing stockholders. Selling stockholders include Institutional Venture Partners, Union Square Ventures, and Reid Hoffman, according to a regulatory filing. Morgan Stanley and Goldman Sachs are the joint bookrunning managers and representatives of the underwriters for the offering.
Zynga Inc. (Nasdaq:ZNGA – News) today announced the pricing of 42,969,153 shares of its Class A common stock at $12.00 per share in a secondary offering. All of the shares will be sold by existing stockholders. In addition, the underwriters have a 30-day option to purchase up to an additional 6,445,373 shares of Class A common stock from certain of the selling stockholders. As part of the offering, all selling stockholders, as well as all officers and directors, have agreed to lock-up agreements that extend the transfer restrictions on their shares until at least 90 days following the offering.
The principal purposes of the offering are to facilitate an orderly distribution of shares and to increase the company’s public float. Zynga will not receive any proceeds from the sale of shares in this offering.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. are the joint bookrunning managers and representatives of the underwriters for the offering. BofA Merrill Lynch, Barclays Capital Inc. and J.P. Morgan Securities LLC also are joint bookrunning managers, and Allen & Company LLC is a senior co-manager for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 28, 2012. This offering is being made only by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus may be obtained from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at email@example.com, or from the offices of Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by e-mail at firstname.lastname@example.org.
This press 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.