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Technology Stocks : PayPal Inc. - PYPL
PYPL 67.250.0%Oct 19 5:20 PM EDTNews

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To: Urlman who wrote (49)6/28/2002 9:16:10 AM
From: AugustWest   of 96
 
(COMTEX) B: PayPal Announces Pricing of Secondary Offering of Common Stock

MOUNTAIN VIEW, Calif., Jun 27, 2002 (BUSINESS WIRE) -- 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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-0-


KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BANKING
COMPUTERS/ELECTRONICS
E-COMMERCE
INTERNET
SOURCE:
PayPal,
Inc.

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