VeriSign announces offering of 4.3M shares of common stock for holders

VeriSign (VRSN) announced the launch of an underwritten secondary offering by affiliates of Berkshire Hathaway of 4.3M shares of the company’s common stock. The selling stockholders will receive all of the proceeds from the offering. The Company is not selling any shares of Common Stock in the Offering and will not receive any proceeds from the Offering. The offering is sized in order to reduce Berkshire Hathaway’s beneficial ownership of the company below the 10% threshold that triggers additional regulatory obligations. Affiliates of Berkshire Hathaway have been stockholders of the company since 2012, and Berkshire Hathaway has voluntarily agreed with J.P. Morgan Securities, the underwriter, that the remaining shares of common stock beneficially owned by Berkshire Hathaway and its affiliates following the offering will be subject to a 365-day lock-up agreement.