LogMeIn Stockholders To Cash In
Woburn, MA-based remote control software company LogMeIn (NASDAQ: LOGM), which went public in July, said today that early investors plan to sell 2.9 million of their shares in a secondary public offering. At this afternoon’s share price of around $19.35, that would bring the stockholders some $56.1 million. Venture backers Prism VentureWorks and Polaris Venture Partners are among LogMeIn’s largest shareholders. LogMeIn said it will also sell 100,000 company-owned shares in the offering.