TechWeb

Google Intends To Raise Another $2 Billion From Wall Street

Mar 29, 2006 (01:03 PM EST)

Read the Original Article at http://www.informationweek.com/news/showArticle.jhtml?articleID=184416955


Google Inc. said in a filing with the Securities and Exchange Commission that it plans to sell an additional 5.3 million shares, which would raise $2.1 billion based on Wednesday's closing price.

The Internet search engine said in the Wednesday filing that it intends to use the money for "general corporate purposes, including capital and capital expenditures."

"In addition, we may use proceeds of this offering for acquisitions of complementary businesses, technologies or other assets that we believe will complement our business," the company said. "We have no current agreements or commitments with respect to any material acquisitions."

The sale would be the third time Google has gone to the equity markets for more cash. One year after its initial public offering, Google last year filed for a secondary stock offering to raise $4 billion.

Google stock closed Wednesday at $394.98 a share.

Goldman, Sachs & Co. is the underwriter in the latest offering.