Friday, July 29, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Worldwide Smartphone Volumes Relatively Flat in Q2 2016
Oracle to Buy NetSuite for $9.3 Billion
Samsung and Nestle Collaborate on the Internet of Things and Nutrition
Home Appliance and Home Entertainment Units Help LG's Quarterly Profits
Facebook Reports Sharp Ad Sales Growth
Samsung Second Quarter Results Boosted By Component Sales
Microsoft Adds Artificial Intelligence Elements To New Smart Camera App
Xiaomi Announces Redmi Pro OLED Smartphone And Mi Notebook Air Laptop
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 Sharp Ad Sales Growth
Facebook's Aquila Maiden Flight Is A Reality
Facebook's Messenger Hits 1 billion Users
Messenger Starts Testing Encryption With Secret Conversations
IRS Probes Facebook
Facebook Tries To Explain The Algorithm Behind News
Facebook To Add Media Content, Celebrity News For Live Srervice: WSJ
Facebook App Arrives on Windows 10
Facebook Messenger Makes It Easier to Start Conversations
Facebook Forces Users Install The Moments app
Facebook Now Supports 360-degree Photos
Facebook: We Don't Listen To Your Calls To Offer Targetted Ads

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .