other_material
confidence high
sentiment neutral
materiality 0.65
Berkshire Hathaway affiliates sell 4.3M shares of VeriSign at $285 each; company receives no proceeds
VERISIGN INC/CA
- Selling stockholders (Berkshire affiliates) offer 4,300,000 shares of VRSN common at $285.00 per share to public.
- Company receives no proceeds; all proceeds go to selling stockholders.
- Offering designed to reduce Berkshire's beneficial ownership below 10% trigger for additional regulatory obligations.
- Underwriter (J.P. Morgan) granted 30-day option to purchase up to 515,032 additional shares.
- Remaining Berkshire-owned shares subject to 365-day lock-up agreement with underwriter.
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