Confirmed: Zynga proposes secondary offering
Zynga confirmed a planned secondary offering today with a Securities and Exchange Commission filing for certain Zynga stockholders to offer shares of Class A common stock. The developer doesn’t receive any proceeds from the sale of the shares.
The CityVille creator uses a three tiered stock system, with Class A having the lowest voting power of the three. The other two stock types hold 98.2 percent of shareholder voting power. According to the filing, the purpose of the secondary offering is to increase the company’s public float.
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