VeriSign Inc., a global provider of internet infrastructure and domain name registry services, has announced a secondary offering of 4,300,000 shares of its common stock. The offering is being made by affiliates of Berkshire Hathaway Inc., which has been a stockholder of VeriSign since 2012. The company itself will not sell any shares nor receive any proceeds from this offering. The purpose of the offering is to reduce Berkshire Hathaway's beneficial ownership of VeriSign below the ten percent threshold, which triggers additional regulatory obligations. J.P. Morgan Securities LLC is acting as the sole underwriter, and the selling stockholders may grant the underwriter a 30-day option to purchase an additional 515,032 shares. Following the offering, any remaining shares owned by Berkshire Hathaway will be subject to a 365-day lock-up agreement.
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