Zynga Inc Announces Closing of Secondary Offering

Zynga Inc announced the completion of an underwritten public offering of an aggregate of 49,414,526 shares of its Class A common stock, including 6,445,373 shares of Class A common stock sold pursuant to the full exercise by the underwriters of their option to purchase additional shares. All of the shares were sold by selling stockholders at a price to the public of $12.00 per share. As part of the offering, all selling stockholders, as well as all officers and directors, agreed to lock-up agreements that extend the transfer restrictions on their shares until at least 90 days following the offering. The principal purposes of the offering were to facilitate an orderly distribution of shares and to increase the company's public float. Zynga did not receive any proceeds from the sale of shares in the offering. Morgan Stanley & Co. LLC and Goldman, Sachs & Co. acted as the joint bookrunning managers and representatives of the underwriters for the offering. BofA Merrill Lynch, Barclays Capital Inc. and J.P. Morgan Securities LLC also acted as joint bookrunning managers, and Allen & Company LLC acted as a senior co-manager for the offering.