Jul. 29 at 12:08 AM
$VRSN announces launch of an underwritten secondary offering by affiliates of
$BRK.A of 4,300,000 shares of the Company’s common stock
The selling stockholders will receive all of the proceeds from the Offering. The Company is not selling any shares of Common Stock in the Offering & will not receive any proceeds from the Offering. The Offering is sized in order to reduce Berkshire Hathaway’s beneficial ownership of the Company below the 10% threshold that triggers additional regulatory obligations
Affiliates of
$BRK.B have been stockholders of the Company since 2012 & Berkshire has voluntarily agreed w/
$JPM that the remaining shares of Common Stock beneficially owned by Berkshire Hathaway & its affiliates following the Offering will be subject to a 365-day lock-up agreement
The Underwriter is acting as the sole underwriter of the Offering. The selling stockholders also expect to grant the Underwriter a 30-day option to purchase up to an additional 515,032 shares of Common stock
