PayPal, Inc. announced that the underwriters of its recent public offering have exercised their over-allotment option for an additional 900,000 common shares, priced at $19.00 per share. All of the shares were sold by selling stockholders.
Salomon Smith Barney served as bookrunning manager for the recent public offering; Bear, Stearns & Co. Inc., Merrill Lynch & Co., William Blair & Company, SunTrust Robinson Humphrey, SoundView Technology Group and D.A. Davidson & Co., acted as co-managers of the secondary offering.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy common shares.
PayPal enables any business or consumer with email to send and receive online payments securely, conveniently and cost-effectively. PayPal’s account-based network builds on the existing financial infrastructure of bank accounts and credit cards to create a global payment system.Details