Zillow (Z) will offer 3.5 million more shares of stock less than two months from its initial public offering.
The online real estate site will offer 3.175 million shares and an additional 325,000 shares by certain existing shareholders.
Zillow said it may use a portion of the proceeds to acquire or invest in new companies or technology. It has no present agreements however, the company said in its filing Wednesday.
Zillow reported $1.3 million in profits during the second quarter, a 19% reduction from the year before. Most of the decline came from increased marketing expenses, but the firm did report $19.6 million in revenue, more than double the amount taken in during the same period one year before.
Citigroup (C) will lead the underwriting on the deal. Pricing will be determined when the offering closes, according to Zillow.
