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SEP 04, 2013 - Investors Business Daily

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LinkedIn Stock Falls On $1 Billion Secondary Offering

LinkedIn (LNKD) stock was down Wednesday as the company launched a secondary offering expected to raise about $1 billion. LinkedIn offered 4.17 million shares of Class A stock, according to its filing with the SEC late Tuesday. The company estimated proceeds at about $1 billion based on the stock's closing price of $240.04 on Aug. 30. The offering will increase the amount of shares outstanding by about 4%. LinkedIn stock was down 2% in afternoon

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