Facebook issuing 70 million more shares, giving 18 million shares to Silicon Valley Community Foundation

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Facebook is in the midst of dealing with a lawsuit over the way that the IPO was handled in 2012. Now Facebook is offering an additional 70 million shares on the stock market worth around $3.9 billion at the price of $55 per share. Most of the shares are common Class A shares from Mark Zuckerberg’s holdings.

Another 27.05 million belong to Facebook and is going to be offered to index funds in conjunction with the company joining the S&P 500. Facebook CEO Mark Zuckerberg will be using the balance of the proceeds to pay the taxes on his exercise of 60 million Class B shares.

Facebook is setting 18 million shares worth around $1 billion as a gift to the Silicon Valley Community Foundation. This is the same charity that Facebook donated 18 million shares to almost a year ago. That gift was worth $500 million.
[Source: Forbes]

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