Zynga (ZNGA -4.6%) announces it sold 49.4M shares in its secondary offering (insider sales) at...

|About: Zynga (ZNGA)|By:, SA News Editor

Zynga (ZNGA -4.6%) announces it sold 49.4M shares in its secondary offering (insider sales) at $12/share. That's 6.4M shares more than what Zynga officially priced last week, the result of underwriters exercising options to purchase additional shares. All those extra shares may have contributed to today's selloff in Zynga, which closed at $12.29.