Yelp announces $250M stock offering, shares -6.1% AH

|About: Yelp (YELP)|By:, SA News Editor

The offering, announced shortly after YELP posted mixed Q3 results and provided above-consensus Q4 revenue guidance, is accompanied by a $37.5M overallotment option. At current levels, it stands to increase Yelp's share count by 6%. (PR)

Yelp only says it will use the proceeds for "additional working capital and general corporate purposes, including sales and marketing activities, general and administrative matters and capital expenditures." The company ended Q3 with $101.2M in cash on its balance sheet, and no debt.