(Updates to add share price movement in the headline and the fifth parapgraph.)

VeriSign (VRSN) said late Monday it has priced a secondary offering of 4.3 million common shares at $285 each.

The underwriter is also expected to be granted a 30-day option to purchase up to an additional 515,032 shares.

The shares are being sold by Berkshire Hathaway (BRK.A, BRK.B) affiliates, who will receive all the proceeds from the offering. The company said it is not selling any shares and will not receive any proceeds from the offering.

The transaction, set to close Wednesday, is intended to reduce Berkshire Hathaway's ownership below the 10% threshold that triggers additional regulatory requirements.

VeriSign shares were down 5.2% in premarket activity Tuesday.