Summary
Netflix, Inc. filed a Form 8-K on November 21, 2011, to report the execution of an underwriting agreement for the sale of its common stock. The company entered into this agreement with Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC, acting as representatives for the underwriters. This offering, registered under a Form S-3 registration statement, involved the issuance and sale of 2,857,143 shares of common stock.
Key Highlights
- 1Netflix entered into an underwriting agreement on November 21, 2011.
- 2The agreement is with Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC as lead underwriters.
- 3The company is issuing and selling 2,857,143 shares of common stock.
- 4The offering is registered under a Form S-3 registration statement.
- 5The estimated net proceeds from the offering are approximately $199.7 million, after deducting offering expenses.
- 6The underwriting agreement is filed as an exhibit to the 8-K.
- 7The Chief Financial Officer, David Wells, signed the report.
Frequently Asked Questions
The primary purpose of this 8-K filing is to announce that Netflix has entered into a material definitive agreement, specifically an underwriting agreement for the sale of its common stock.
Netflix estimates that the net proceeds from this offering will be approximately $199.7 million, after accounting for estimated offering expenses.
The lead underwriters for this offering are Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC, acting as representatives of the several underwriters.
Netflix is offering and selling 2,857,143 shares of its common stock.