Google Reduces Price And Size Of IPO

Continuing the roller coaster-style of ride since they filed notice, Google has reduced the size and the cost of their Initial Public Offering. The search engine giant filed another amendment with the SEC that detailed the changes Google would be making.

offer their shares at a prices between $108 and $135 a share. They are now expected to be in the $85-95 price range. Google also reduced the amount of shares that would be available from existing shareholders. According to CBSMarketWatch, Google is cutting the available shares from 25.7 million to 19.6 million. Of this stock, Google still plans to sell 14.1 million, has detailed in the initial filing. However, the amount of shares available from pre-IPO shareholders has dropped from 11.6 million to 5.5 million. The amount of money that the IPO was/is expected to bring in has obviously dropped has well. Google was expecting to raise $2.7 to 3.5 billion with its offering, which has been updated to reflect the amendments. Currently, Google is expecting to raise $1.9 billion, now that the changes are in place. The reason for the changes in price and amount has caused a good deal of speculation. The bull's-eye shot concerning these changes comes from Andy Beal of Murdok. Visit Murdok for the

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