LinkedIn investors and executives will be seeking to sell more than 6.7 million shares valued at around $500 million, only 5 months after its blockbuster IPO in May this year. This is according to a regulatory filing with the U.S. Securities and Exchange Commission.

According to the filings, Bain Capital, LinkedIn’s top investor, will be looking to unload its entire stake in the company. Bain holds about 4%, or 3.7 million shares, of stock at LinkedIn. Sources have it that Bain Capital facilitated a $53-million investing round in 2008 that left LinkedIn valued at $1 billion. Since then, Bain has been a top investor in the professional networking company.

The sale will go down this coming week after LinkedIn’s IPO 180-day “lockup” expires on Sunday. The “lockup” agreement is meant to preclude company’s insiders from rushing to sell their stakes. In the markets, it is common for executives and investors to sell their stakes immediately after a lockup.

LinkedIn’s was the biggest initial public offering for an internet company since Google’s IPO in 2004. This past month, the company announced that it would offer an extra $100 million in stock to feed growth. The sale will involve around 1.3 million shares, the company said on Tuesday. The date of the sale has not been set.

LinkedIn’s move to sell additional shares will cause doubling of the number of shares in the market. Previously, the company has benefitted from the limited number of shares. by limiting the number of shares offered through an IPO makes shares scarce, which tends to escalate the value of stocks.

LinkedIn shares garnered as high as $109.97 in July before falling to the lower $70 range a month later. On Tuesday, the shares slumped by 4.6 percent to close at $74.86.

Chief Executive Officer Jeff Weiner and Chief Financial Officer Steve Sordello are each offloading 10 percent of their stakes. Sources within the company said that the two agreed to a 90-day waiting period before selling more shares.

LinkedIn co-founder and current Chairman, Reid Hoffman agreed to the condition. However, he is not selling any shares. Currently, his stake in the California-based company is valued at more than $1 billion.

LinkedIn posted its first loss as a public company in the third quarter even as revenues doubled. To expand its offerings to its more than 135 million members the world over, the company immensely increased spending. It specializes in networking professionals from all the four corners of the globe.