GOOG Prices Secondary - Is This a Pound of Flesh, Or Normal

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GOOG had a bad day today, it closed down 8.68 points at 303. But after hours, Google announced it had priced its secondary offering at $295 (release below), another eight buck discount to its current price. Can any Wall St. mavens out there educate us as to why? Is this a trailing three month average, perhaps? Or a hedge to make sure the banks can do what they usually do, which is distribute underpriced shares to preferred clients, who make out on the "pop"? Google choose not to do an auction this time around, and auction pioneer WR Hambrecht is not a listed manager on the deal, as it was on the IPO....

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