As we suggested last week, social gaming firm Zynga has authorized the issuance of new shares of preferred stock, according to a filing on April 22 with the State of Delaware, where the company is incorporated.
According to reports, Zynga has authorized the issuance of another $25 million in preferred Class B2 shares and an additional 10 million Series Z preferred shares. There is yet to be official word from Zynga about the recent filing.
Reports were recently released, saying that Zynga had formed an alliance with Japan's Softbank investment firm to expand into the global market, particularly targeting Asia for expansion.
Zynga recently raised $180 million from Russian investor DST in December, and CEO Mark Pincus has been appearing all over the press world, including BusinessWeek, Details and many other publications. In fact, there's an humorous photo of the Zynga board of directors in the recent Fortune article (pictured above).
As the largest game publisher on Facebook, Zynga's actions always get players talking. These new shares could mean a variety of things, and are definitely the first steps of a new business plan coming into place. Whether or not we'll be seeing a set of original games soon is still yet to be discovered, as we suspect the expected $25 million raised from new shares could be put to good use for social gamers.