Thursday, January 19, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
U.S. ITC Begins Patent Probe of GPU, DDR Memory Controllers
U.S. To Investigate Whether Fujifilm Violated Sony Magnetic Tape Patents
Mozilla Unveils New Logo, Brand Identity
Samsung Bribery Case May Trigger U.S. Legal Authorities Too
Updated Google App For Android Will Save Results If Your Connection Is Bad
Chip Gear-Maker ASML Offers Positive Sales Forecast
Samsung's Exynos Processors Selected For Audi's In-Vehicle Infotainment
FTC Charges Qualcomm With Monopolizing Semiconductor Device Used in Cell Phones
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 Journalism Project Aims At A Healthy News Ecosystem
Facebook Buys Eye-tracking Startup Eye Tribe
Facebook Says Government Requests Rise 27 Percent
EC Alleges Facebook Provided Misleading Information About WhatsApp Takeover
Facebook Introduces Group Video Chat in Messenger
Facebook to Offer Tools To tackle Fake News
Facebook Messenger Launches New Native Camera
Facebook, Twitter And Google Are Partnering To Help Curb Spread of Online Terrorist Content
Facebook To Offer $20 million To Improve Silicon Valley Communities
Facebook To Use Artificial Intelligence to Flag Offensive Videos
Facebook Brings Games To Messenger
Facebook Said To Propose Censorship Tool to Re-enter China

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .