PayPal Announces Pricing of Secondary Offering of Common Stock
MOUNTAIN VIEW, Calif.--June 27, 2002--PayPal, Inc. (Nasdaq:PYPL) announced today that it priced a secondary public offering of 6,000,000 shares of its common stock at $19.00 per share. All of the shares in the offering are being offered by selling stockholders.
Certain of the selling stockholders also granted the underwriters an option to purchase an additional 900,000 shares of common stock to cover over-allotments, if any.
Salomon Smith Barney served as bookrunning manager for the offering; Bear, Stearns & Co. Inc., Merrill Lynch & Co., William Blair & Company, SunTrust Robinson Humphrey, SoundView Technology Group and D.A. Davidson & Co., acted as co-managers of the offering.
The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Salomon Smith Barney, Brooklyn Army Terminal, 140 58th Street, 5th Floor, Brooklyn, NY 11220.
About PayPal
PayPal enables any business or consumer with email to send and receive online payments securely, conveniently and cost-effectively. PayPal`s account-based network builds on the existing financial infrastructure of bank accounts and credit cards to create a global payment system.
CONTACT:
PayPal, Inc.
Sravanthi Agrawal, 888/337-3533
sagrawal@paypal.com
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