Google Files to Offer $4 Bln in Stock

By Geoff Duncan August 18, 2005

In a filing today with the U.S. Securities and Exchange Commission, Internet search giant Google revealed it intends to offer 14.76 million new shares of Class A common stock, a move which—at Wednesday’s closing prices—would be worth $4.21 billion. Google’s filing says the company plans to use the money for "general corporate purposes, including working capital and capital expenditures, and possible acquisitions of complementary businesses, technologies or other assets."

Industry analysts expect Google is building a war chest to raise the bar in its escalating competition with Microsoft and Yahoo, and the company presumably anticipates making new acquisitions. Google itself says it currently has no commitments for any significant acquisitions, but declined to comment specifically on its future plans.

The proposed offering includes 14.16 million shares, plus an additional 600,000 shares available as optional purchases to underwriters Morgan Stanley, Credit Suisse First Boston, and Allen & Co. to manage overallotments.

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