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Facebook cancels Secondary Offering

Facebook is facing reality and cancels secondary offering to try to stabilize stock value.

Sep 5 2012, 2:14am CDT | by

3 Updates
Facebook cancels Secondary Offering
 
 

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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Update: 3

Mike Schroepfer, David Ebersman Exercise Facebook Restricted Stock Units

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

Update: 2


Quote:
"I would like to see Ed come home and face this"


Source: BBC News

Full Story

Facebook cancels Secondary Offering

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.

 

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
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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