Filed under: News | Technology News
Sep 5 2012, 2:14am CDT | by Luigi Lugmayr
Facebook planned a secondary offering to pay for the $2 billion tax bill. Facebook has lost $50 billion in market value since the iPO. According to a new filing, Facebook is canceling the secondary...
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Source: AllFacebook.com - the unofficial Facebook blog
Schroepfer exercised 18,750 restricted stock units that were set to expire Aug. 25, 2019, and, following the withholding of 9,784 class-A shares by Facebook to satisfy income tax withholding and remittanc ...
Full article at: AllFacebook.com - the unofficial Facebook blog
More like this 8 hours ago, 1:56pm CDT
Facebook planned a secondary offering to pay for the $2 billion tax bill. Facebook has lost $50 billion in market value since the iPO. According to a new filing, Facebook is canceling the secondary offering. Facebook will now pay the taxes with cash and credit lines. Mark Zuckerberg also said to not sell any shares over the next 12 months.
Facebook employees can also sell their vested shares a bit earlier according to the Facebook filing. Instead of November 14 they already can sell on October 29. Not sure if that will help anybody.
After the Facebook IPO I thought I would buy Facebook shares once they fall under $20. They are now at $18, but I am still not buying. Facebook appears to be far away to make significant money that would even rectify the current market value. I would not be surprised to see FB fall under $10 by year end.
Luigi Lugmayr
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.
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