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In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
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Newsflash: Google IPO "Effective" from 4:00PM Eastern Time Today [UPDATE 4:20 PM EDT - Now OK'd by SEC]
Search giant slashes size of its IPO to less than $2 billion

Google Inc just filed a revision, from yesterday to today, to the date to have its IPO registration statement declared "effective" by the SEC - at which point the price of its newly issued shares would be fixed and trading could therefore begin.

Here's its statement in full:

"Google IPO - Notice of revised date to have the registration statement declared effective

August 18, 2004

Please be advised that the prospectus for the offering of Google's Class A common stock will be amended to change the estimated offering price range and the number of shares to be sold in the offering. The offering price is now expected to be between $85 and $95 per share. As originally planned, Google expects to sell 14,142,135 shares of Class A common stock in the offering. However, in view of this new price range, the selling shareholders are reducing the shares they expect to sell to approximately 5.5 million shares, yielding a total offering of approximately 19.6 million shares. In addition, the selling shareholders have granted the underwriters the right to purchase approximately 2.9 million additional shares of Class A common stock at the initial public offering price to cover over-allotments.

Google and the underwriters requested that the Securities and Exchange Commission declare the registration statement effective on Wednesday, August 18, 2004 at 4:00 p.m. (Eastern Daylight Time). Holders of bidder IDs will be sent a notice of effectiveness once the registration statement has been declared effective. Google and the underwriters expect to close the auction when the registration statement is declared effective.

Google plans to file an amendment to the registration statement Wednesday morning. Holders of bidder IDs will be sent a notice of amendment to the registration statement when it is filed, at which time you will be able to obtain a copy of the updated prospectus from https://www.ipo.google.com/data/prospectus.html. If you have submitted a bid, you should access that prospectus and carefully reconsider your bid(s). Please note that placing a bid does not guarantee that you will be allocated shares in the offering, if it is completed.

A registration statement relating to Google's Class A common stock has been filed with the Securities and Exchange Commission but has not yet become effective. Google's Class A common stock may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of Google's Class A common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. No offer to buy shares of Google's Class A common stock can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time until the notice of acceptance is sent after the effective date."

About Jeremy Geelan
Jeremy Geelan is President & COO of Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences both in North America and overseas. He is executive producer and presenter of Cloud Expo's "Power Panels" on SYS-CON.TV.

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Bloomberg is saying stock-index futures tumbled already because of this - "This shows investors'' reserve when it comes to technology shares," said Pascal Desseigne, fund manager at Michaux Gestion in Lyon, which manages $616.1 million. "Investors won''t pay a high price." Desseigne said he won''t buy Google shares.

The report adds:

Google said it will sell stock to the public between $85 to $95 a share, down from the previous range of $108 to $135, amid the biggest drop in Internet stocks in almost two years.

What a Googlebummer!!


Your Feedback
Googlebummer wrote: Bloomberg is saying stock-index futures tumbled already because of this - "This shows investors'' reserve when it comes to technology shares," said Pascal Desseigne, fund manager at Michaux Gestion in Lyon, which manages $616.1 million. "Investors won''t pay a high price." Desseigne said he won''t buy Google shares. The report adds: Google said it will sell stock to the public between $85 to $95 a share, down from the previous range of $108 to $135, amid the biggest drop in Internet stocks in almost two years. What a Googlebummer!!
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