MOUNTAIN VIEW — Google Inc.'s shares rose slightly Thursday to remain above the $295 price set in the Internet search engine leader's first sale of stock since its closely watched initial public offering last year.
The follow-up offering of 14.16 million shares, completed late Wednesday, raised $4.18 billion. After paying its investment bankers, Google will pocket $4.11 billion, leaving the Mountain View-based company with $7.06 billion in cash.
The buyers of the offering, who got a discount on Google's market price, already have a small paper profit. Google's shares rose 53 cents Thursday to close at $302.62 on the Nasdaq Stock Market.
Google's investment bankers, a group led by Morgan Stanley & Co. and Credit Suisse First Boston LLC, still have the option to buy another 600,000 shares at the current discount.
The follow-up offering generated intense interest, spurred by Google's ongoing success since its IPO was priced at $85 per share 13 months ago. The 7-year-old company has earned nearly $1 billion since going public and most industry analysts expect the good times to continue as the online advertising network that generates virtually all of its profits continues to grow.
Google hasn't said how it will use all the cash sitting in its bank accounts, leaving the technology industry guessing wildly about where the influential company's next move might lead.
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