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Facebook Will Offer Up 50 Million More Shares Than Expected

Illustration for article titled Facebook Will Offer Up 50 Million More Shares Than Expected

Facebook has announced that it will be selling an extra 50.6 million shares, at a price likely to fall between $34 and $38 per share, reports TechCrunch. That should snag them at least another $13.1 billion—and probably push their final valuation north of the expected $100 billion.

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The extra release of 50,612,302 shares will be offered to underwriters to cover over-allotments. In total, that will mean that Facebook is now selling 388 million shares.

It' still not worth buying one, though. [TechCrunch]

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Image by west.m under Creative Commons license

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DISCUSSION

StoutFiles

I would rather burn my money then use it to buy Facebook stock.