Reuters: Technology News: Zynga shareholders to sell 43 million shares

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Zynga shareholders to sell 43 million shares Mar 23rd 2012, 12:15 Tweet Share this Email Print Related News Zynga buys OMGPOP games company for $200 million: source Wed, Mar 21 2012 Facebook underwriters to get 1.1 percent fee: source Tue, Mar 20 2012 Wall Street retreats after rally, but Apple up again Wed, Mar 14 2012 Zynga files for $400 million secondary offering Wed, Mar 14 2012 Disney CEO Iger adds chairman role Tue, Mar 13 2012 Analysis & Opinion Buying equity in people SecondMarket's unnecessary Facebook Fund Related Topics Tech » Small Business » Media » The corporate logo for Zynga is seen on a screen outside the Nasdaq Market Site in New York, December 16, 2011. Credit: Reuters/Brendan McDermid Fri Mar 23, 2012 8:15am EDT (Reuters) - Zynga Inc shareholders will sell Class A shares worth about $591 million, with founder and CEO Mark Pincus alone set to reap about $227 million based on Thursday's closing price. Shareholders will sell a total of 43 million shares in the online game maker, including 16.5 million from Pincus, the company said in a regulatory filing on Friday. Private equity firms Kleiner Perkins Caufield & Byers and Union Square Ventures are among the selling stockholders. Zynga waived a lock-up arrangement to facilitate the offering. Investors are typically expected to wait about six months after an initial public offering to sell their shares. Pincus will have 35.9 percent of the voting shares after the sale, down from 36.5 percent now. Zynga has three classes of stock. Class A shares carry one vote each, Class B seven votes and Class C 70 votes. Zynga which is trying to minimize its dependence on Facebook, announced its biggest-ever acquisition on Wednesday, buying OMGPOP, maker of the popular game "Draw Something. The company said it paid $180 million for OMGPOP. Morgan Stanley and Goldman Sachs are the lead underwriters for the offering. Zynga shares, which have risen 33 percent since the company went public in December, closed at $13.76 on Thursday. (Reporting by Himank Sharma in Bangalore; Editing by Sreejiraj Eluvangal) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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