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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.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.

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