The largest piece of the sale will be 16.5 million shares to be sold by the company’s CEO Mark Pincus, with two venture capital firms selling a total of 11 million shares. Institutional Venture Partners will sell 5.8 million shares and Union Square Ventures will sell 5.2 million shares. Google Inc. (NASDAQ: GOOG) and venture capital firm Silver Lake Partners will each sell 3.96 million shares.
Following the offering the company will have 164.35 million shares of class A common stock outstanding, 536.7 million class B shares outstanding, and 20.5 million class C shares outstanding. Pincus owns all the class C shares, each of which carries the voting power of 70 class A shares. Pincus now controls about 36.5% of the voting rights in Znyga, and that total will fall to about 35.9% following the sale.
The full SEC filing is available here.
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