Thursday, April 26, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
AMD's Revenue increased 40 Percent year-over-year
Qualcomm's Quarterly Profit Falls 51.5 Percent
Facebook Reports Quarterly Profit Fueled by Mobile Ads, No Impact From Analytica Scandal
Philips Momentum 43" HDR Monitor Achieves 1,000 nits of Brightness
China's Pushes into Semiconductor Market
Amazon Alexa and New Echo Dot Speaker Target Kids
Hotel Room Keys Can be Hacked, F-Secure Says
Nokia Launches Edge Cloud Data Center Solution for the 5G Era
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Faceboo...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, December 19, 2013
Facebook To Sell 70M Sares


Facebook today announced that it is commencing an underwritten registered public offering of 70,000,000 shares of its Class A common stock. A total of 27,004,761 shares are being offered by Facebook, and a total of 42,995,239 shares are being offered by certain selling stockholders, including 41,350,000 shares offered by Mark Zuckerberg.

Standard & Poor?s has announced that, effective as of the close of trading on December 20, 2013, it plans to include Facebook's Class A common stock in the S&P 500 Index, which is comprised of 500 common stocks that S&P selects. Shares of Facebook's Class A common stock will be offered primarily to index funds whose portfolios are primarily based on stocks included in the S&P 500 Index.

Facebook intends to use the net proceeds of the offering for working capital and other general corporate purposes. The company will not receive any proceeds from the sale of shares by the selling stockholders. Facebook expects that the majority of the net proceeds Mr. Zuckerberg will receive upon the sale of shares in the offering will be used to satisfy taxes that he will incur in connection with his exercise, in full, of an outstanding stock option to purchase 60,000,000 shares of Class B common stock.

Each Class B share gives the shareholder 10 votes, while each Class A share comes with one vote. The deal will give Zuckerberg control over nearly 63 percent of the voting power of the company's outstanding stock, according to a Securities and Exchange Commission filing.

J.P. Morgan, BofA Merrill Lynch, Morgan Stanley and Barclays are serving as joint bookrunners for the offering. BNP Paribas, Citigroup, RBC Capital Markets, Credit Suisse, HSBC, Standard Chartered and Piper Jaffray are serving as co-managers for the offering.

An effective registration statement relating to the securities was filed with the Securities and Exchange Commission on December 19, 2013.




Previous
Next
Verizon to Publish Transparency Report        All News        Steam Machine Teardown
Spain Privacy Watchdog Fines Google     General Computing News      Government Removal Requests To Google Continue to Rise

Get RSS feed Easy Print E-Mail this Message

Related News
Facebook Reports Quarterly Profit Fueled by Mobile Ads, No Impact From Analytica Scandal
Facebook Outlines Internal Enforcement Guidelines For the First time
Facebook Says Users Are Not Products, the Social Network Is
Facebook Seeking to Hire Chip Designers
Facebook Outlines Privacy Measures Towards GDPR
Facebook Provides More Details About Data Collecting Beyond Users
Zuckerberg Avoided Clarifications related to Data Collection Practices
Zuckerberg's Testimony Is Over, But Uncertainty Remains
Zuckerberg Takes Responsibility for Facebook's Problems
Facebook Suspends Canadian firm AggregateIQ
Facebook Messenger Gets More Visual With Support for 360 Degree Photos and HD Quality Video
Internal Memo Shows Facebook's 'Growth At Any Cost' Culture

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .