LinkedIn is getting back to business after Labor Day with the announcement of a new follow-on offering to boost its bottom line.
The professional social network is preparing to offload approximately $1 billion in shares of its Class A common stock.
The lead bookrunners are J.P. Morgan Securities and Morgan Stanley. Goldman, Sachs & Co. along with Bank of America-Merrill Lynch are acting as joint bookrunning managers with Allen & Company LLC enlisted as co-manager.
LinkedIn is also promising to add another $150 million to the pot if the underwriters decide to purchase some of the Class A shares.
Headquartered in Mountain View, Calif., LinkedIn has published a broad overview in what it eventually wants to do with its savings, including expanding product development and field sales -- notably on an international level.
There are also hints of other projects on the horizon as LinkedIn acknowledged in Tuesday's announcement that it could use some of the returns on future acquisitions.
The company has been expanding into the digital publishing space much more furiously over the last several months, helped especially by the purchases of smaller, more niche businesses such as SlideShare and Pulse.