The total filing is for up to 388,027,654 shares after the overallotment option with a price of $28.00 to $35.00 per share. Facebook is offering 180,000,000 shares of its Class A common stock and selling holders are offering 157,415,352 shares of Class A common stock.
The holders of Class B common stock will hold approximately 96.3% of the voting power of the entire outstanding capital stock following this offering and founder Mark Zuckerberg will hold or have the ability to control approximately 57.3% of the voting power of the outstanding capital stock following this offering.
The company projects that net proceeds from the sale of the Class A common stock will be approximately $5.6 billion if at the mid-point of the range at $31.50 per share.
Without the collection of an overallotment, the total of Class A and Class B shares outstanding after the initial public offering will be 2,138,085,037 shares. Unfortunately, that number of shares outstanding excludes many more shares under stock option plans, Zuckerberg options, Instagram shares, and future issuance shares.
JON C. OGG
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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