All,
It is interesting to read the S1 filed by eBay on Thursday (3/25/99).
The entire document can be read at:
sec.gov
eBay states that part of their objective is:
"developing international markets by actively marketing and promoting our website in selected countries."
They also talk about international expansion:
"We are expanding internationally and recently launched separate home pages dedicated to Canada and the United Kingdom."
Here is a snip of the filing that talks about how they (eBay) plan to use the money that they raise from the sale of this additional 6.5M shares of stock.
USE OF PROCEEDS
The net proceeds to the Company from the sale of the 4,250,000 shares of Common Stock offered by the Company hereby, at an assumed public offering price of $146.375, are estimated to be approximately $599.3 million after deducting the estimated underwriting discount and estimated offering expenses. The Company expects to use the net proceeds from this offering for general corporate purposes, including working capital. The Company may also use a portion of the net proceeds, currently intended for general corporate purposes, to acquire or invest in businesses, technologies, products or services that are complementary to the Company's business. The Company has no present plans or commitments and is not currently engaged in any negotiations with respect to such transactions that are material. Pending such uses, the Company intends to invest the net proceeds from this offering in short-term, interest-bearing, investment grade securities. The Company will have significant discretion as to the use of the net proceeds from this offering. See "Risk Factors--Management will have broad discretion over allocation of proceeds from this offering." The Company will not receive any proceeds from the sale of the Common Stock by the selling stockholders. See "Principal and Selling Stockholders."
There is also alot of other good information in the filing. Check it out.
Barry |
