LogMeIn Files Secondary Stock Offering
LogMeIn Inc. (Nasdaq: LOGM), a Woburn, Mass.-based provider of user remote connectivity and support services, has filed to sell three million shares of common stock. The value would be nearly $60 million, based on Wednesday's closing share price of $19.90 per share.
LogMeIn itself will sell 100,000 shares, with the remainder being offered by existing shareholders. Company backers include Prism VentureWorks (17.55%), Polaris Venture Partners (13.24%), 3TS Capital Partners (8.98%), Integral Capital Partners (5.05%) and Intel Capital.
The company raised $106.7 million via its IPO in late June, pricing at $16 per share.