There was a lot of speculation that Facebook would be valued at about $100B — but the high end of the range of stock prices it identified in an SEC filing today suggest that the company’s worth a maximum of $96B. While the amounts could change, Facebook says it plans to sell 337.4M shares — equal to $10.6B based on the mid-point of the range, $31.50. About $5.7B would go to the company, which says it might use some cash “for acquisitions of complementary businesses, technologies, or other assets.” Another $5B would go to current investors selling shares including Accel Partners and Digitial Sky Technologies. Company founder Mark Zuckerberg also is selling 30.2M shares, After the IPO, he’ll control 57.3% of the votes from the two-tiers of stock. Once the SEC approves Facebook’s prospectus, executives can go on a road show to interest institutional investors in buying stakes in the social networking giant. Shortly after, the company would be traded on NASDAQ under the ticker symbol “FB.” Facebook says that net earnings in the first three months of this year fell 12% to $205M on revenues of $1.1B, up 44.7%.
Facebook Expects Stock To Sell For $28 To $35 A Share, Less Than Expected
What's Hot on Deadline
Latest Film News
- Universal Changes Release Date On ‘Pitch Perfect 3’ Again
- Weinstein Company Blasts Open Road & ‘Little Prince’ Producers Over $35M ‘Playmobil…
- ‘Rogue One’: Re-Shoots But No Test Screening; Release Date Not Impacted
- Viacom Watchers Wonder: Who’d Step In If Sumner Redstone Cleans House?
- Cate Blanchett’s Broadway Debut With Chekhovian ‘The Present’ Sets House & Cast
- WGA West Pencils In $4 Million Surplus For Fiscal 2016