This company has been on a tear as of late.
- LinkedIn (LNKD) is selling 5.38M shares at $223, and giving underwriters a 30-day option to buy another 807K shares. (PR)
- LNKD -2.1% AH to $234.01, after falling 2.9% in regular trading in response to the initial offering announcement. Speculation continues to swirl that the funds will be used to go after German professional networking site Xing.
- For reference, LinkedIn traded at $114.82 going into 2013.
With the news of a secondary offering on the stock, it was down about -7 on that day, but if you look at the lead underwriter’s you can see that they are willing to defend this stock down to $233 per share, which is a pretty sounding deal. Friday’s are completely a task on which direction they will start and end.