NEW YORK ( TheStreet) - Social gaming company Zynga ( ZNGA) announced the closing of its secondary offering on Tuesday, selling more than 49 million shares at $12 each. Zynga, the maker of games such as Farmville and Mafia Wars, sold 49,414,526 shares of its Class A common stock at $12 a share.
Zynga announced the closing of its secondary offering on Tuesday.
The company will not be receiving any proceeds from the sale. Morgan Stanley and Goldman Sachs were the leading book-runners for the offering. Bank of America Merrill Lynch, Barclays Capital, J.P. Morgan, and Allen & Co. were also involved. Zynga recently announced it would be expanding its offerings, buying Draw Something maker OMGPOP for a reported $200 million. Shares of Zynga fell sharply on Tuesday, down 4.58% to close at $12.29. Interested in more on Zynga? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. -- Written by Chris Ciaccia in New York >To follow the writer on Twitter, go to http://twitter.com/commodity_bull. >To submit a news tip, send an email to: firstname.lastname@example.org