Red Hat files to sell $368M in stock for employee plan

Raleigh-based Red Hat has filed to sell $368.4 million of common stock to be issued under its employee stock plan, according to a Securities and Exchange Commission Form S-8 filed on Sept. 9.

The company is offering 5 million shares as part of its 2016 Employee Stock Purchase Plan. Red Hat currently has 8,800 full-time employees.

Founded in 1993, Red Hat is an American multinational software company that provides open-source software products to the enterprise community.

Red Hat’s revenue for fiscal year 2015 was $1.79 billion, up 17 percent from $1.5 billion in the previous year. In the three months ended June 22, the company reported earnings of 50 cents per share, matching analysts’ estimates.

Red Hat (NYSE: RHT) shares closed Sept. 9 at $72.24, down 36 cents.

Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism