Facebook Offering Extra 50.6 Million Shares
Facebook has filed an amendment to their S-1. The company is going to sell 50.6 million additional shares at a public offering price of between $34 and $38 per share. Facebook plans to trade on the NASDAQ under the ticker symbol “FB.”
Here is what the amendment to the S-1 said:
We and the selling stockholders have granted the underwriters the right to purchase up to an additional 50,612,302 shares of Class A common stock to cover over-allotments.
We anticipate that the initial public offering price will be between $34.00 and $38.00 per share.
Facebook would raise $14.7 billion in the IPO based on these prices and number of shares and it would bring their market valuation to above $100 billion.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry