Home Wealth  Money LinkedIn Sells More Shares, Angie's List Prices IPO

LinkedIn Sells More Shares, Angie's List Prices IPO

Posted: Nov. 18th, 2011  |  By Forbes

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Social media site LinkedIn said late yesterday it has priced a follow-on offering at $71 per share.

The company, which made its public debut in May, will offer 8.75 million common shares plus an additional 1.3 million to cover over-allotments.

The company itself is selling just 1.3 million shares in the offering, and the remaining shares will be sold by existing stockholders.

LinkedIn said the purpose of the offering are to raise capital for the company, facilitate an orderly distribution of shares and increase the company's public float.

All selling stockholders, as well as all officers and directors, have agreed to lock-up agreements for a period of 90 days following the offering.

Angie's List will begin trading today on the Nasdaq after pricing its initial public offering late yesterday, at $13 per share.

The pricing was at the high end of the consumer review website's range.

Daily deal site Groupon () launched its IPO earlier in the month, and traded up more than 30% in its first day on the market.

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