LinkedIn 2011 Annual Report Download - page 42

underwriters. We raised approximately $248.4 million in net proceeds after deducting underwriting discounts and
commissions of approximately $17.9 million and other offering expenses of approximately $3.8 million. No
payments were made by us to directors, officers or persons owning ten percent or more of our common stock or to
their associates, or to our affiliates, other than payments in the ordinary course of business to officers for salaries, or
as a result of sales of shares of common stock by selling stockholders in the offering.
On November 22, 2011, we closed our follow-on offering, in which we sold 2,583,755 shares of Class A
common stock at a price to the public of $71.00 per share. The aggregate offering price for shares sold in the
offering was approximately $183.4 million. The offer and sale of all of the shares in the follow-on offering were
registered under the Securities Act pursuant to a registration statement on Form S-1 (File No. 333-177710),
which was declared effective by the SEC on November 16, 2011. The offering commenced as of November 16,
2011 and did not terminate before all of the securities registered in the registration statement were sold. Morgan
Stanley & Co. Incorporated, Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC,
Allen & Company LLC and UBS Securities LLC acted as the underwriters. We raised approximately $177.3
million in net proceeds after deducting underwriting discounts and commissions of approximately $5.3 million
and other offering expenses of approximately $0.8 million. No payments were made by us to directors, officers
or persons owning ten percent or more of our common stock or to their associates, or to our affiliates, other than
payments in the ordinary course of business to officers for salaries, or as a result of sales of shares of common
stock by selling stockholders in the offering.
The proceeds from the IPO and our follow-on offering have been used for working capital, sales and
marketing activities, including further expansion of our product development and field sales organizations and
general corporate purposes. We have broad discretion over the uses of the net proceeds and may use a portion for
the acquisition of, or investment in, technologies, solutions or businesses that complement our business although
we have no present commitments or agreements to enter into any material acquisitions or investments. There
have been no material differences between the actual use of proceeds and intended use of proceeds as originally
described in the IPO or follow-on offering. Based on our current cash and cash equivalents balance together with
cash generated from operations, we do not expect that we will have to utilize any of the net proceeds to fund our
operations during the next 12 months. Pending these uses, we intend to invest the net proceeds in short-term,
investment-grade interest-bearing securities such as money market funds, certificates of deposit, commercial
paper and guaranteed obligations of the U.S. government.
b) Issuer Purchases of Equity Securities
The following table provides information with respect to repurchases of unvested shares of our Class B
common stock made pursuant the 2003 Plan during the three months ended December 31, 2011. No shares of our
Class A common stock were repurchased during the period.
Period
Total
Number of
Shares
Purchased (1)
Average
Price Paid
per Share
Total
Number of
Shares
Purchased as
Part of
Publicly
Announced
Plans or
Programs
Maximum
Number of
Shares that
May Yet Be
Purchased
Under the
Plans or
Programs
October 1 – October 31, 2011 .............. — $— — —
November 1 – November 30, 2011 . . . . . . . . . . 234 8.27 — —
December 1 – December 31, 2011 .......... 2,607 7.91 — —
2,841 $7.94 —
(1) Under the 2003 Plan, participants may exercise options prior to vesting, subject to a right of a repurchase by
us. All shares in the above table were shares repurchased as a result of us exercising this right and not
pursuant to a publicly announced plan or program.
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