Zynga Closes Secondary Offering

NEW YORK (TheStreet) - Social gaming company Zynga(ZNGA) announced the closing of its secondary offering on Tuesday, selling more than 49 million shares at $12 each.

Zynga, the maker of games such as Farmville and Mafia Wars, sold 49,414,526 shares of its Class A common stock at $12 a share.

Zynga announced the closing of its secondary offering on Tuesday.

The company will not be receiving any proceeds from the sale. Morgan Stanley and Goldman Sachs were the leading book-runners for the offering. Bank of America Merrill Lynch, Barclays Capital, J.P. Morgan, and Allen & Co. were also involved.

Zynga recently announced it would be expanding its offerings, buying Draw Something maker OMGPOP for a reported $200 million.

Shares of Zynga fell sharply on Tuesday, down 4.58% to close at $12.29.

Interested in more on Zynga? See TheStreet Ratings' report card for this stock.

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--Written by Chris Ciaccia in New York

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