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Mark Zuckerberg Plans to Sell 70 Million Facebook Shares of Worth $3.9 Billion

Facebook shares fell as much as 2.7% after the company announced to sell 70 million shares of its Class A common stock as part of a whopping $3.9 billion offering. This public offering include 27M shares by Facebook, 41.35M shares by CEO Mark Zuckerberg and 1.6 million from board member Marc Andreessen.

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Mark Zuckerberg Plans to Sell 70 Million Facebook Shares of Worth $3.9 Billion
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Mark Zuckerberg Plans to Sell 70 Million Facebook Shares of Worth $3.9 Billion

Facebook wants to clear its taxes. And this is the reason that the giant social networking site today announced an underwritten registered public offering of 70 million shares of its Class A common stock. In these 70 million shares, a total of 27 million shares are being offered by Facebook itself, and a total of 43 shares are being offered by certain selling stockholders, including 41.35 million shares worth about $2.3 billion offered by CEO Mark Zuckerberg

The remaining 1.6 million shares are actually offered by a board member Marc Andreessen. This will be total offering of worth about $3.9 billion. This offering amount is based on the Facebook’s closing price yesterday. Before this announcement, Facebook shares were already dropped down by 4% at $53.54. Bloomberg reports that Facebook shares fell as much as 2.7 percent after the announcement.

This public offering of Menlo Park, California-based Facebook shares is being announced just a day before Facebook joins the S&P 500 Index. Standard & Poor's, a division of McGraw-Hill Financial Inc. (S&P), has already announced 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, effective as of the close of trading on December 20, 2013. 

Todd Lowenstein, a portfolio manager with Highmark Capital, said, “It’s never a positive sign when insiders are dumping massive quantities of stock. The company (Facebook) is now being added to the S&P 500 Index so there will be large demand for the shares from index buying and index hugging money managers. So it seems this will be absorbed without much disruption.”

Facebook is expecting that CEO Mark Zuckerberg will use the majority of the net proceeds of the sale of shares in the offering to satisfy taxes.

The joint book runners of the offering are J.P. Morgan, BofA Merrill Lynch, Morgan Stanley and Barclays. And BNP Paribas, Citigroup, RBC Capital Markets, Credit Suisse, HSBC, Standard Chartered and Piper Jaffray are serving as co-managers for the offering.

 

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How Technology Has Changed Crime Fiction Forever

Source: Politics - The Huffington Post

As a novelist who often writes about spies and assorted ne'er do wells, you might say that I sometimes get paid to find ways to make people disappear. Not murder victims. I let my less reputable characters handle that dirty job, and the less said about it the better. I'm referring to the arts of concealment, of evasion, of hiding in plain sight - tactics which I often have to employ to protect my heroes from the various forces that ...
Source: Politics - The Huffington Post   Full article at: Politics - The Huffington Post 4 days ago, 7:20am CDT
 


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Update: 10

Around 150 rally in support of Ferguson Police Officer Darren Wilson

Source: St. Louis Business Journal

Late Sunday afternoon, a group of around 150 rallied in front of KSDK's offices in downtown St. Louis to show support for Darren Wilson, the Ferguson police officer accused by police of shooting and killing Michael Brown on Aug. 9. Some at the rally said it was being held there because they were protesting the station's airing of video showing Wilson's home, the St. Louis Post-Dispatch reported. The rally was organized in the " Support Darre ...
Source: St. Louis Business Journal   Full article at: St. Louis Business Journal 4 days ago, 7:11am CDT
 

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Update: 9

In Silicon Valley, deals must meet toothbrush test

Source: CNBC

Companies like Google, Facebook and Cisco Systems are employing unorthodox new criteria to size up their de ...
Source: CNBC   Full article at: CNBC 4 days ago, 6:37am CDT
 

Update: 7

Why The #ALSIceBucketChallenge Is More Than Just An Online Trend!

Source: Houston's Hot Hits

When things pop up online, there will always be negative reactions and people who feel the need to criticize.  That is exactly what has happened with the Ice Bucket Challenge, with people saying it is just people dumping buckets of water over their head. First, I am going to start with the facts, then I am going to throw in my opinion. These come directly from the New York Times! Facts: People have shared more than 1.2 million videos on Facebook between June 1 and Aug. 13 and mentioned th ...
Source: Houston's Hot Hits   Full article at: Houston's Hot Hits 4 days ago, 6:33am CDT
 

Update: 6

The Uncomfortable Ask: Board Members and Fundraising

Source: eJewish Philanthropy

Part III of III By Avrum Lapin Show Me the Money… We all remember that memorable line from the movie Jerry Maguire starring Tom Cruise. While the context was clearly different, the essence was the same. Credibility is established by putting “skin in the game.” In today’s philanthropic marketplace, the nonprofit Board is the place where the credibility is built. If the Board does not give, many will hesitate to participate, yet others simply will re ...
Source: eJewish Philanthropy   Full article at: eJewish Philanthropy 5 days ago, 5:30am CDT
 

Update: 5

Trouble identifying satire? Get all your news from Facebook? You're in luck, dummy

Source: The Register Hardware

There's a special tag. (That means label) Facebook is experimenting with a "satire" tag on the free content ad network to highlight to help users with reading comprehension troubles distinguish news from parody pie ...
Source: The Register Hardware   Full article at: The Register Hardware 5 days ago, 5:24am CDT
 

Update: 4

Morrisville gets a new Mediterranean restaurant

Source: Triangle Business Journal

Cafe Anar, a Mediterranean and central Asian restaurant, has opened at 108A Factory Shops Road in Morrisville. The cuisine ranges from Greek to Middle Eastern to Mediterranean, according to the restaurant's Facebook page. The site is the location of the forme ...
Source: Triangle Business Journal   Full article at: Triangle Business Journal 5 days ago, 5:20am CDT
 

Update: 3

Places Around 4.0 – The Ultimate Tool for finding Places of Interest

Source: MacMegasite

Colombo, Sri Lanka – Neoappz, a mobile application development company, today is pleased to announce the release and immediate availability of Places Around 4.0 for iPhone and iPod touch. Places Around is a user-friendly application which allows anyone to easily find places in their surroundings. It works world wide and provides accurate and concise information. It is ideal for travel. Places Around features a Category Search which provides one tap access to over 40 common c ...
Source: MacMegasite   Full article at: MacMegasite 5 days ago, 4:40am CDT
 

Update: 2

Wanted: Ideas for the new Science Centre in the expanded Jurong Lake Gardens

Source: Asia One

SINGAPORE - Education Minister Heng Swee Keat, who will head a committee to "re-imagine and develop" the new Science Centre, is encouraging members of the public to come up with ideas. Get the full story from The Straits Times. Education minister Heng Swee Keat posted on Facebook today that the Science Centre is a good place where generations of Singaporeans have been able to "imagine, experience, discover and dream".He wrote that he hoped "to have a diverse group ...
Source: Asia One   Full article at: Asia One 5 days ago, 4:18am CDT
 

Update: 1

Notch Over Oculus VR Buyout, Carmack Offers To Port Minecraft

Source: IGN

Renowned programmer John Carmack has offered to port Minecraft to the Oculus Rift virtual reality headset following Mojang's Markus “Notch” Persson’s revelation that he was over Facebook's buyout of Oculus VR. “Say the word, ship the source, and I'll make sure it runs well on you-know-what… ,” Carmack wrote in response to Persson’s tweet that he’s “officially over being upset about Facebook buying Oculus.” ...
Source: IGN   Full article at: IGN 5 days ago, 2:34am CDT
 

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.

 

 

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