WebProNews

Continuing the roller coaster-style of ride since they filed notice, Google has reduced the size and the cost of their Initial Public Offering. The search engine giant filed another amendment with the SEC that detailed the changes Google would be making.

The noticeable changes that Google made in their amended filing are the reduction of the price per share. Initially, Google was going to offer their shares at a prices between $108 and $135 a share. They are now expected to be in the $85-95 price range.

Google also reduced the amount of shares that would be available from existing shareholders. According to CBSMarketWatch, Google is cutting the available shares from 25.7 million to 19.6 million. Of this stock, Google still plans to sell 14.1 million, has detailed in the initial filing. However, the amount of shares available from pre-IPO shareholders has dropped from 11.6 million to 5.5 million.

The amount of money that the IPO was/is expected to bring in has obviously dropped has well. Google was expecting to raise $2.7 to 3.5 billion with its offering, which has been updated to reflect the amendments. Currently, Google is expecting to raise $1.9 billion, now that the changes are in place.

The reason for the changes in price and amount has caused a good deal of speculation. The bull's-eye shot concerning these changes comes from Andy Beal of SearchEngineLowdown fame, who says, "Looks like existing shareholders are not as willing to sell at the new lower range of $85-$95 per share."

Read Google's full SEC Amendment here.

Chris Richardson is a search engine writer and editor for WebProNews. Visit WebProNews for the latest search news.