In addition, the underwriters will have a 30-day option to purchase from Silver Bay up to an additional 1, 987, 500 shares of common stock, at the initial public offering price.
The underwriters of the offering will have a 30-day option to purchase up to an additional 3, 191, 250 shares of common stock from the Company at the initial public offering price.
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The underwriters will be granted an option to purchase up to 2, 475, 000 additional shares of common stock from CyrusOne at the initial public offering price, less underwriting discounts and commissions.
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The shares are up about 6.7% from the initial public offering price, as the company became the latest home builder to tap Wall Street's growing confidence in the U.S. housing recovery.
The five contractors, who do public relations, Web design and advertising, get part of their fees in cash to cover costs, then get shares based on an estimated initial public offering price.
The company also said in addition to the public offering, CEO Elon Musk will buy 1.5 million shares at the public offering price, while an affiliate of Daimler AG will buy an additional 644, 475 shares at the same price.
Additionally, many employees hope for the reward of a successful public offering or publicly traded share price.
Unfortunately, one-fifth of shares that began public trading in the 1990s have declined more than 90% from their offering price, what big institutional investors and Wall Street insiders paid before the company went public.
Investment banks routinely support the price of a stock after a public offering, which is acceptable under SEC rules.
Although his company has minuscule revenue and no earnings to date, the share price has quintupled since his initial public offering in October 2002.
It is expected to go on sale to the public in late 2013 for a lower price, offering standalone web services and working in tandem with existing apps on an Android phone.
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These concerns have hurt the firm's share price ever since its high profile initial public offering (IPO) last year.
More pressing is what Citron is going to do about his losses and flagging stock price, down 62% since its initial public offering last spring.
SolarCity postponed its closely watched initial public offering on Tuesday, the day the Silicon Valley solar installer was to price the IPO set to go to market on Wednesday, according to Reuters.
The CBOE, the last major U.S. exchange to go public, thumbed its nose at concerns over its rich price compared with the offering prices of its peers.
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