PayPal announces stock selling by selling shareholder
Justin Sullivan


PayPal (NASDAQ:PYPL) in a filing said that selling stockholders of PayPal along with any additional selling stockholders may offer and resell up to 526,912 shares, par value $0.0001/share.
Shareholders, Russell Frank Cummer and Riku Sugie, registering the shares for a possible sale have acquired those shares when PayPal acquired Paidy.

The company will not receive any proceeds from the sale.
In other filing, it announced that it plans to offer common & preferred stock, depositary shares, debt securities, warrants, purchase contracts and units from time to time if to intends to raise capital.
Shares have garnered 11.6% gains in premarket trade; yesterday the company saw a beat in Q2 earnings and raised annual guidance.